The British pound and U.K. government bond yields shot higher Thursday in reaction to the surprise resignation of Sajid Javid as chancellor, as markets anticipate more spending from the Boris Johnson-led government.
Equity markets plunge after China upped the number of coronavirus cases and deaths, this outbreak is far more impactful than investors realize.
More coronavirus cases reported in China has roiled global stock markets. Gold is higher, travel shares are falling. Cisco Systems and NetApp shares are moving on earnings news.
Rishi Sunak was named the U.K.'s Chancellor of the Exchequer, just minutes after the surprise resignation of Sajid Javid. Sunak, the chief secretary to the Treasury, has a background in finance including at hedge fund The Children's Investment Fund as well as at Goldman Sachs. The pound was trading at $1.3021 up from $1.2960 on Wednesday.
British media outlets have reported that Sajid Javid , the chancellor, has resigned. He reportedly quit after being told by Prime Minister Boris Johnson to fire all of his advisers. Javid resigned without ever delivering a budget. The British pound wa...
China confirmed more than 15,000 new coronavirus infections using a new computerized testing procedure, sending global stocks lower in cautions Thursday trading.
FT subscribers can click here to receive Market Forces every day by email. There was some tapping of the brakes across equity markets and risk assets on Thursday as the latest development from China reminded investors that the terrain is sinuous rathe...
By Geoffrey Smith
By Peter Nurse