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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Severfield Plc | SFR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.80 | 1.00% | 81.20 | 16:35:10 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 81.80 | 81.00 | 82.00 | 81.20 | 80.40 |
| Industry Sector |
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| INDUSTRIAL ENGINEERING |
| Top Posts |
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Posted at 14/7/2024 21:08 by waldron Pound Sterling Forecast: 1.2050 Vs Euro By End 2024 Say Credit AgricoleBy Tim Clayton EXCHANGERATES.ORG.UK Published: Jul 14, 2024 at 19:30 Updated: Jul 14, 2024 at 19:30 GBP to EUR Pound Sterling Forecast: 1.2050 vs Euro Credit Agricole maintains a positive outlook on the Pound with support from stronger fundamentals including the relative interest rate outlook and more stable political conditions. The Pound to Euro (GBP/EUR) exchange rate is trading at 1.19, just below 4-week highs and close to 23-month highs. The bank does note that positive elements have been priced in to some extent and the Pound is slightly overbought on a short-term view. In this context, it considers it will be difficult to secure further near-term gains, but expects GBP/EUR will secure further medium-term gains with an end-2024 forecast of 1.2050. Credit Agricole notes that investor confidence towards the UK appears to have improved with increased capital inflows into UK markets. Politically, the bank notes that there has been a sharp contrast between UK political developments and the political gridlock in France following the parliamentary elections. It expects this contrast will underpin the Pound. On economic grounds, Credit Agricole notes the improved UK data flow and more hawkish than expected rhetoric from Bank of England MPC members which has boosted UK yield support. It expects forthcoming data will continue to be watched closely for further evidence on the outlook and interest rate outlook. |
Posted at 08/7/2024 11:34 by maywillow Banking & FintechEuro slumps against Swiss franc after French elections Euro freewheels after surprise French legislative elections The euro slumped on Monday morning against the franc, and to a lesser extent the dollar, in the wake of an electoral upset in France. This content was published on July 8, 2024 - 11:45 2 minutes Marine Le Pen and Jordan Bardella’s Rassemblement National lost the second round of legislative elections to the Nouveau Front Populaire. The far-right was also beaten by President Emmanuel Macron’s Ensemble party. At 08:46, the euro had lost 0.22% against the franc at 0.9687 EUR/CHF and 0.11% against the dollar at 1.0828 EUR/USD. “The risk premium on the euro seems to have faded to some extent already, and we don’t expect any sudden bouts of weakness against the dollar given the absence of a clear majority,” says Claudia Panseri, head of investment in France for UBS’s Global Wealth Management unit. If the left were to succeed in imposing its views, the single currency could sink below $1.05. A government made up of moderates should keep the EUR/USD pair around 1.08, she added. The franc has benefited from a flight of capital to greater security, even though the euro has already made up much of its initial losses against the dollar, notes Ipek Ozkardeskaya, from Swissquote. “In the space of a weekend, France has gone from an advantage for the far-right to a victory for the far-left,” continues the Gland-based online bank’s analyst, for whom the coalition led by Jean-Luc Mélenchon’s Insoumis has done too much to allay investors’ fears about the stability and predictability of French politics. Translated from French by DeepL/mga SWISSINFO |
Posted at 16/6/2024 17:26 by grupo guitarlumber By Tim ClaytonPublished: Jun 16, 2024 at 09:30 Political Concerns Continue to Undermine the Euro, GBP/EUR Hits Fresh 22-Month Highs GBP Live Today Pound to Euro Rate Hits 1.19 European currencies failed to hold gains on Thursday and posted fresh losses on Friday, especially with fragile risk conditions as European equities under-performed relative to Wall Street. The Euro remained firmly on the defensive amid political concerns with a particular focus on the French bond market. The Pound to Euro (GBP/EUR) exchange rate advanced to fresh 22-month highs at around 1.19 amid Euro vulnerability. According to Credit Agricole; “While we recognise that some negatives are already in the price of EUR/GBP, we maintain our bearish outlook on the pair, targeting a return to 0.84 in the coming months.” (1.1905 for GBP/EUR). The dollar dipped after the producer prices data on Thursday amid increased hopes for a Fed rate cut in September, but it secured fresh support later in the session with net gains against European currencies. In this environment, the Pound to Dollar (GBP/USD) exchange rate lost ground with a retreat to near 1.2720. Overall confidence surrounding the Euro area dipped again with a particular focus on the French political situation ahead of snap parliamentary elections at the end of June. French bonds (OATs) were sold again, especially in relation to German Bonds (Bunds). MUFG commented; “The OAT/Bund spread is now at 73bps, breaking above the energy-crisis and global pandemic highs to reach the widest spread since the 2017 French presidential elections when the financial market first feared the risk of a Le Pen presidency. It didn’t happen then, nor in 2022 but the markets now rightly fear it could be ‘third time lucky’!” foreign exchange rates ING also noted the impact of political stresses; “We're not French political experts, but it looks like the euro is taking another leg lower in early Europe today on news that the French parties of the Left are getting their act together to form a coalition and only run one candidate per district between them. This rare cooperation of the Left stands to suck support from President Macron's party further.” It added; “With opinion polls taking such a toll on the euro and presumably more polls due this weekend, we expect investors will want to manage their euro exposure carefully.” The bank does not expect near-term relief during the French campaign; “It is going to be a long month for the euro. And next week could see the European Commission place France in an excessive deficit procedure.” The Pound has been dominated by global developments this week, although there was a weaker housing survey and markets will continue to monitor Bank of England expectations. The RICS housing survey weakened to -17% for June from -7% previously and compared with expectations of a further small recovery to -5%. According to the survey; “This appears to be linked to the recent scaling back in expectations around the degree of monetary policy loosening likely to be pushed through by the Bank of England during the second half this year” It added; “With respect to the near-term outlook for prices at the national level, expectations suggest that some further downward pressure could be seen in the coming three-months.” There was still an element of optimism; “Nevertheless, respondents still foresee a modest recovery in residential sales volumes getting back on track over the months ahead.” The latest BoE survey reported a decline in 1-year inflation expectations to 2.8% from 3.0%. UK economic developments next week will be important with the BoE policy decision on Thursday. Ahead of the announcement the latest inflation data will be released on Wednesday. Markets do not expect a rate cut at this month’s policy meeting, but guidance from the BoE will be watched closely. Weaker-than-expected inflation data would also increase speculation that the BoE will cut interest rates at the August meeting and potentially undermine the Pound. Tim Clayton Contributing Analyst |
Posted at 17/4/2024 13:55 by diesel Comfortable results, this company may not set the market on fire but they are solid and making the right strategic decisions and a yield of 7% is almost enough of an attraction. The share buyback is a bit of a surprise and the effect on EPS will also be picked up by inst investors. I agree todays performance might retrace but I stand by my prediction that 60p will be the support level. |
Posted at 04/12/2023 08:29 by ariane Swiss Cantons Basel-City and Zurich pioneer the settlement of digital bonds transactions in SNB's Swiss-Franc wCBDC on SIX Digital ExchangeZURICH, Dec. 4, 2023 /PRNewswire/ -- On 1 December 2023, digital bond issuances by the Cantons of Basel-City and Zurich were successfully settled using real CHF wholesale central bank digital currency (wCBDC) issued by the Swiss National Bank (SNB) on SIX Digital Exchange (SDX). It is the first time the SNB has issued real wCBDC in Swiss francs on a financial market infrastructure based on distributed ledger technology (DLT). This achievement is part of Project Helvetia Phase III, announced by the SNB on 2 November 2023, ushering in pilot wCBDC transactions for financial institutions from 1 December this year until mid-2024. As part of the project, Basler Kantonalbank and Zürcher Kantonalbank, acted as issuer agents of the cantons of Basel-City and Zurich. The digital bonds of Basel-City (ISIN: CH1265890678; DTI: RD9R6Z6FM) and Zurich (ISIN: CH1306117073; DTI: 7JMK1KK1R) were successfully issued on the production platform of SDX and distributed to investors and banks. These bonds can be held in both Central Securities Depositories of SDX and of SIX (SIX SIS). In addition, as dual-listed bonds, they will be listed and tradeable at SDX (exchange) and SIX Swiss Exchange. David Newns, Head of SIX Digital Exchange, adds, "A strong collaboration amongst participants of the Swiss financial center led to the successful start of the Helvetia III pilot. As the most ambitious wCBDC project in the history of capital markets, the settlement of the first securities transactions in wCBDC in a developed economy on regulated blockchain based infrastructure in a production environment represents a major milestone for the entire industry on the road of adoption of a tokenized, DLT based financial markets infrastructure." About SDX SIX Digital Exchange AG (SDX) is the first fully regulated financial market infrastructure (FMI) for the issuance, trading, settlement, and custody of digital assets. SDX is licensed by Switzerland's financial market regulator, FINMA, to operate as a stock exchange (via SDX Trading AG) and central security depository (CSD) on distributed ledger technology (DLT). As part of the SIX Group, SDX is subject to the Group's high quality and security standards covered under Swiss law. Cision View original content: SOURCE SDX (SIX Digital Exchange) |
Posted at 06/11/2023 08:05 by adrian j boris Pound-to-Euro Forecast For Coming Week: Upcoming News For GBP/EUR Exchange Rate BuyersPosted by Adam Solomon in GBP to EUR, Week Ahead Forecasts, - 6 Nov 2023 05:00 Pound-to-euro-rate-1 The Pound Euro (GBP/EUR) exchange rate trended in a mixed range last week as the Bank of England (BoE)’s interest rate decision sparked volatility. Meanwhile, the Euro (EUR) benefitted from US Dollar (USD) weakness, although gains were capped amid the release of mixed domestic data. At the time of writing, GBP/EUR is trading at €1.1512, having risen by approximately 0.45% over the course of the week. Pound (GBP) Exchange Rates Rebound Following Interest Rate Hold The Pound (GBP) rebounded toward the end of last week’s trading, having lost a considerable portion of its gains following the Bank of England’s decision to leave interest rates unchanged. GBP/EUR trended sideways on Monday as BoE consumer credit data printed close to forecasts; a low risk appetite limited gains for the currency. As the conflict in Gaza raged on, markets were concerned that geopolitical tensions could disrupt supply dynamics. On Tuesday, risk aversion persisted. GBP slumped initially before shooting up against the Euro as inflation data from the bloc missed forecasts. Pound trading was mixed in other exchange rates; a speech from the BoE’s Victoria Cleland appeared to have little impact. Midweek, money markets were preoccupied with the Federal Reserve’s interest rate decision. Against the Euro, Sterling maintained its tailwinds, despite October’s finalised manufacturing PMI missing expectations. Thursday’s activity dominated UK trading. Ahead of the event, GBP/EUR softened as investors remained uncertain of the BoE’s forward guidance; subsequently, the Pound continued to fall, but pivoted upward as the European session drew to a close. On Friday, Sterling assessments were more upbeat. GBP traders seemed cheered by BoE Governor Andrew Bailey’s comments that: ‘Monetary policy is currently restrictive in the sense that if we maintain this stance for long enough, we will squeeze inflation out of the system and that’s what we will do.’ The Euro traded mixed last week, gaining a slight edge over the Pound as the Bank of England’s interest rate decision stirred volatility. Nevertheless, the publication of below-forecast inflation data on Tuesday pressured the single currency against its peers. At the start of the week, EUR traded broadly higher. Triggering this uptrend may have been a better-than-expected German GDP reading: in Q3 2023, the economy contracted by 0.1% rather than the 0.3% forecast. Moreover, economic sentiment in the bloc weakened by less than predicted, though it still printed at the lowest level since November 2020. On Tuesday, the Euro crashed lower following the release of the Eurozone’s latest GDP and inflation data. The Eurozone economy contracted unexpectedly according to flash data, while inflation in the bloc printed 0.2% below forecasts. Investors were subdued by the prospect of a dovish European Central Bank (ECB), as policymaker Francois Villeroy de Galhau commented: ‘This state of the economy fully justifies the halt to the rate hike sequence decided by the [ECB] Governing Council last Thursday. Our monetary policy must now be guided by confidence and patience.’ In the second half of the week, the single currency recovered as weakness in the US Dollar inspired an uptrend. Given the strong negative correlation between USD and the Euro, ‘GreenbackR GBP/EUR Forecast: Several Key Releases on Horizon This week, a series of pertinent data releases may influence the direction of the Pound Euro exchange rate. At the start of the week, an expected fall in German factory orders could boost GBP/EUR, while contracting industrial production on Tuesday may dent the Euro further. Midweek, Eurozone retail data is due for release. Sales are expected to have fallen by 0.2% in September, potentially depressing the Euro; although such an outcome would mark an improvement from August’s contraction of 1.2%. At the end of the week, UK GDP data is expected to reveal economic expansion of 0.1% in September, though annualised GDP is forecast to have fallen by 0.6%. The data could rekindle discussion around the likelihood of a UK recession, potentially weighing upon Pound exchange rates. Adam Solomon Adam has almost a decade of experience working in one of the UK’s leading currency brokers |
Posted at 02/11/2023 12:17 by grupo guitarlumber SNB moves CBDC into production on SIX Digital Exchange36 minutes ago FINEXTRA The Swiss National Bank is to issue its first real wholesale digital currency for tests with six commercial banks operating on the distributed ledger platform of SIX Digital Exchange. The pilot, called Helvetia Phase III, marks the first time the central bank has moved from test environments into production, making wholesale CBDC available for the settlement of real bond transactions. The banks involved will carry out the transactions on the DLT platform as intermediaries for issuers and investors. The tokenised bonds will be settled against wholesale CBDC on a delivery versus-payment basis. The pilot with real Swiss franc wholesale CBDC is scheduled to run from December 2023 to June 2024 with participating banks Banque Cantonale Vaudoise, Basler Kantonalbank, Commerzbank, Hypothekarbank Lenzburg, UBS and Zürcher Kantonalbank. In March 2023, the SNB announced that it would examine three models for settling the cash leg of tokenised asset transactions. One model involves the issuance of wholesale CBDC for settling tokenised assets; another involves the linking of settlement systems for tokenised assets with the existing SIC payment system; and a third involves the use of private, bankruptcy-protected token money that is backed by central bank money. The upcoming pilot project adopts the first model, for which the SNB will be able to build on the findings of earlier Project Helvetia phases. SNB chairman Thomas Jordan says: “With this pilot project, we are now, for the first time, making it possible to securely and efficiently settle transactions with tokenised assets on a regulated and productive DLT platform using real wholesale CBDC. We are proud of our internationally pioneering role in this area as we carry out this innovative project together with SIX and the participating banks.” |
Posted at 20/10/2023 15:56 by la forge INVESTOMAMIA,COSwiss Franc emerges as safe haven king amid Israel-Hamas conflict Investors seek refuge in the Swiss franc, as traditional havens lose appeal amidst geopolitical tensions and disappointing corporate earnings. Berto Tordecilla October 20, 2023 Amid the escalating Israel-Hamas conflict and a wave of disappointing financial reports from corporate giants, investors have been seeking safety in the Swiss franc. The Swiss currency has recently soared to its highest level against the euro since 2015, standing tall as its customary rivals lose their appeal. Global stock markets have taken a hit, with a 1.6% decline in global shares this week and a 2% loss on Wall Street over two sessions. This has driven investors towards safe haven assets, raising questions about where to find shelter in these turbulent times. As risk aversion grows and conventional safe havens like bonds face pressure due to high U.S. rate expectations, only the Swiss franc and gold appear to remain as viable options, Ielpo stated. On Friday, the euro fell to 0.9419 Swiss francs, marking its lowest level since the Swiss National Bank abandoned the peg to the euro in January 2015, reflecting a 2.4% depreciation against the Swiss currency this month. The dollar has also weakened about 1% against the franc this week, putting it on track for its most substantial weekly drop since July. In contrast, the U.S. dollar has been soaring to its highest level against the Japanese yen in nearly a year, while 10-year Treasury yields have touched 5%, diverting funds away from the low-yielding yen. Traders are also perceiving a higher risk of currency intervention by Japanese authorities, resulting in greater volatility than any Swiss action. The Swiss franc has rallied over 3% against the yen this month, making it a preferred choice for investors looking for safe alternatives. Since the Hamas attacks on Israel in early October, the Swiss franc, often referred to as the Swissie, has risen approximately 2% against the U.S. dollar. In contrast, the dollar index, measuring its value against a basket of currencies, has remained relatively stable. Substantial currency fluctuations may attract the attention of the Swiss National Bank (SNB), given the increasing frequency of daily swings. For example, the euro experienced its most significant daily drop since November 2022 on October 13, falling 0.89% against the franc. The Swiss National Bank declined to comment on Friday about the currency’s value or the possibility of interventions. Since late 2022, the SNB has been buying francs to support its value, thereby reducing the inflationary impact of rising costs related to commodity imports. Some analysts believe that the SNB, known for its unpredictability since it roiled currency markets in 2015, might consider abandoning currency support if exporters start to voice concerns more loudly. |
Posted at 16/10/2023 20:50 by ariane Swiss franc nearing all-time high against euro due to Middle East crisisThe franc has risen in recent days to its highest value against the euro in a year and is approaching an all-time high. A very uncertain international situation in the Middle East is pushing investors towards safer positions. This content was published on October 16, 2023 - 10:33 On Friday evening, the exchange rate against the euro fell as low as 0.9457. One has to go back to September 2022 to find a lower euro value (0.9409), a rate that represents the absolute minimum in the history of exchange rates between the two currencies. This morning the euro changed hands between 0.9486 and 0.9502. According to market players, there is a rush to so-called safe haven assets, such as the Swiss franc. It is not yet clear how long this phase will last: such episodes are usually short-lived, says an analyst at Commerzbank. "But as long as there is a danger of a ground offensive by the Israeli army in Gaza and as long as it is not clear how the Arab states will react, it is probably too early to give up on the new risk stance”. Historical comparison The euro (in actual monetary circulation since 2002) hit its all-time high against the franc in 2007 at CHF 1.7146. These were the days of the so-called “super-euro&rd A reputation, however, that was only built up after a long time. The Swiss franc is in fact over 170 years old: it was created in 1850 and was then geared to the French system. The first coins were minted in Paris: the Federal Mint in Bern only came into operation in 1853. And at the time there were probably not many who bet that the currency of a neutral state would one day become more valuable than that of neighbouring great powers. |
Posted at 18/8/2023 05:53 by adrian j boris Pound To Euro Outlook: GBP/EUR Exchange Rate Rises On Sterling OptimismPosted by Adam Solomon in GBP to EUR, - 18 Aug 2023 05:05 The Pound Euro (GBP/EUR) exchange rate firmed through Thursday’s European session, excepting a brief dip in the morning as the Eurozone’s trade balance impressed. Supporting the Pound (GBP) was investor optimism regarding the potential for a hawkish stance from the Bank of England (BoE). At the time of writing, the Pound Euro exchange rate is trading at €1.1729, having risen by over 0.3% on a daily basis. Pound (GBP) Exchange Rates Supported by Investor Optimism The Pound continued to trend up against the Euro and several other peers on Thursday, spurred on by bullish rate hike expectations combined with partially stabilising inflationary pressures. Tuesday’s jobs report initially inspired GBP tailwinds, as it demonstrated employer resilience: in response to pressure from employees struggling with the cost of living, businesses could afford to hike wages. Subsequently, Wednesday’s core inflation release revealed that the price of essential items was still climbing, although the rate of headline inflation year-on-year remained unchanged. Analysts at ING bank observed yesterday: ‘While a 25 bps September hike should be a done deal, we still think a November move is an open question, given indications of abating price pressures in other parts of the economy.’ The stabilisation of headline inflation for the year-to-July went some way to quell growing recession fears amid bullish expectations from Sterling investors. Several economists are concerned, however, that this week’s strong UK data distracts from a bleaker overall picture, as George Dibb, head of the Institute for Public Policy Research’s Centre for Economic Justice, says: ‘There is a very real risk that a recession may soon overtake price rises as the main economic concern.’ Nevertheless, the general mood amongst Pound traders on Thursday was upbeat. Expectations of an imminent interest rate hike appear to buoy – rather than unsettle – investors, while news of falling fuel prices and easing grocery inflation is roundly welcomed. The Euro (EUR) succumbed to losses on Thursday, hitting a one-month low against the Pound amid headwinds relating to economic growth. Wednesday’s GDP release indicated that the Eurozone economy grew only marginally in the last quarter, putting a dampener on single currency sentiment. Uninspiring economic data also compounds another obstacle to Euro tailwinds: disagreement between the European Central Bank (ECB)’s rate-setters. Uncertainty over the central bank’s policy tightening agenda prevents EUR traders from placing bullish bets. Opinions within the ECB appear to remain concurrent with last week’s Economic Bulletin, which cautioned that due to high inflation and tighter financing conditions, reduced spending across the bloc left the outlook for economic growth highly uncertain. The Latvian central bank chief, Martins Kazaks, gave a noncommittal speech yesterday, in which he remarked that any additional interest rate hikes would necessarily be very small. Kazaks added that he would need to see the ECB’s quarterly projections before deciding on a course of action. Further depressing the Euro on Thursday was its strong negative correlation with the US Dollar (USD). Resurgent strength in the ‘Greenback&rsq GBP/EUR Forecast: UK Retail Data to Determine Movement? The Pound Euro exchange rate is likely to be influenced today by the UK’s latest retail report. If sales contracted as forecast in July, GBP may weaken - depressing GBP/EUR. On an annualised basis, the contraction in sales growth is expected to have deepened from –1% in June to –2.1% last month. On the other hand, Euro headwinds could cap gains for the single currency, leaving the Pound Euro exchange rate to trend sideways. So long as the ECB remains divided and growth prospects fair to inspire, EUR is likely to struggle against its peers. Adam Solomon |
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