By: John Stepek 18/07/2019 This article is taken from our FREE daily investment email Money Morning. Every day, MoneyWeek's executive editor John Stepek and guest contributors explain how current economic and political developments are affecting the markets and your wealth, and give you pointers on how you can profit.Sign up free here. London house prices are falling at the fastest rate since the tail-end of the financial crisis. The latest house price reading from the Office for National Statistics found that prices in the UK’s capital slid by 4.4% year-on-year in May. That’s the biggest fall since 2009. The big question is: will this spread across the UK? Why London has been hit hardest by the housing downturn The Office for National Statistics house price index is quite new. But it’s also quite comprehensive and it does come out a lot later than the other surveys, so the data is as close to “finished” as you’ll get. So while a … [Read more...] about London house prices are tumbling: will it spread across the UK?
Best spread betting broker uk
Spread betting firm Plus500 has been branded a business “in reverse” following a collapse in revenue this year. Shares plunged almost a third after the Israeli company's first quarter revenues fell 82pc to $53.9m (£41.3m) compared with the same period last year. The dramatic fall to 495p wiped £225m off the value of the online trading platform, leaving shareholders such as Odey Asset Managment, which has a stake of almost 10pc, nursing heavy losses. Plus500 blamed "subdued" markets for the slide in sales. "Given the level of global political and economic news, financial markets were surprisingly subdued in the period, which reduced the number of trading opportunities for customers,” said chief... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one … [Read more...] about Spread-betting firm Plus500 ‘stuck in reverse’ after revenue collapse
Shares in spread betting company Plus500 plunged after it announced that its first quarter revenues fell by two-thirds on the previous quarter. Plus500 reported revenues of $53.9m (£41.3m) for the first three months of the year, down from $154.8m in the final quarter of 2018 and $297.3m in the corresponding period last year. The company blamed "subdued financial markets" for the slide in sales in the most recent quarter. It has also been hit by stricter regulations. "Given the level of global political and economic news, financial markets were surprisingly subdued in the period, which reduced the number of trading opportunities for customers,” said chief executive Asaf Elimelech. Shares in the... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register … [Read more...] about Investors punish spread-betting firm Plus500 after revenue collapse
You can’t really fault the new rules aimed at protecting gambling addicts from blowing their family finances on suicidal spread betting. As anyone who’s ever traded will tell you, the chances of losing your money massively outrun the prospects of winning. Furthermore, with the availability of credit to finance your bets — known as leverage — you stand to lose far more than just your stake. So Brussels came up with a series of protective measures known as the ESMA rules, named after the European Securities and Markets Authority. They reduced the leverage retail investors could take on spread-betting contracts for difference (CfDs), forced companies to close out bets when losses got too big and restricted the amount of bonus bets firms could offer in their marketing. Furthermore, they also have to state publicly what percentage of their punters are actually in profit. Given that the national competent authorities last year calculated that 74-89% of punters lose … [Read more...] about Plus500 pays price as its luck runs out on spread betting
The crackdown on risky contracts for difference (CFDs) shut out IG customers in its first half, sending the spread betting operator’s profits and shares sliding. IG’s operating profit slumped 18pc year-on-year to £113m at the interim stage following the European Securities and Markets Authority’s shake-up of the sector. Revenue also continued to deteriorate in its second quarter, dropping 8pc. The watchdog is clamping down on CFDs, which allow inexperienced investors to rack up huge losses by betting on a price movement without owning the underlying asset. It has slashed leverage limits for retail investors stung by the products. The company slid to the bottom of the FTSE 250 index after a 19pc... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week … [Read more...] about Market report: Spread-betting clampdown hurts IG