Top Story

Metro Bank shares edge higher as raiders circle

The FTSE has opened marginally down this morning, led south by miner Fresnillo and Reckitt Benckiser. Rolls Royce shares are also in the red this morning. Metro Bank was in focus as its shares dropped on news that Fitch had downgraded the bank. Ratings are critical for the profitability of bank and this was not good news for Metro.

Metro Bank shares took a hit last week following its failed £200 million bond offer. Shares sank to 175 on the news and have recovered slightly since the start of this week. A number of activist investors, among them US fund Elliott Advisers, are known to be looking at Metro Bank as a possible turnaround or break up proposition.

Australia cuts rates

The Royal Bank of Australia cut rates to 0.75% which did not surprise analysts but has them worried about how low Australia can now go. RBA Governor Lowe said in his speech that the Australian economy was at a turning point and that further easing was possible. Australia has been seeing some positives, like rising house prices and wage growth, but it seems the RBA was not feeling in positive mood.

Slew of economic data ahead

There is plenty of economic data out today with UK manufacturing data followed by the Eurozone CPI. The US reports its Purchasing Managers Index this afternoon, which will also be closely watched by investors trying to gauge the health of the major economies. Concerns remain about the health of the global economy and whether China and the US are going to start to slow down in tandem.

Please note this product may not be available to trade in all regions.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

The markets are moving. Stop missing out.

OPEN AN ACCOUNT