Severfield Share Discussion Threads

[florenceorbis] 24/9/2019 17:29

Pound Swiss Franc (GBP/CHF) Exchange Rate Edges Highers as UK Supreme Court Rules Commons Prorogation Unlawful
September 24, 2019 - Written by John Cameron

STORY LINK Pound Swiss Franc (GBP/CHF) Exchange Rate Edges Highers as UK Supreme Court Rules Commons Prorogation Unlawful

GBP/CHF Exchange Rate Rises, Conservative Government under Pressure to Avoid No-Deal Brexit

The Pound Swiss Franc (GBP/CHF) exchange rate rose by around 1.233Chf following the UK Supreme Court’s ruling of Prime Minister Boris Johnson’s suspension of the House of Commons as unlawful, or ‘justifiable’.

As a result, the Pound rose against the Swiss currency as this now poses more pressure on the Conservative Government to avoid a no-deal Brexit.

John Bercow, the House of Commons Speaker, has meanwhile called for Parliament to reconvene as early as tomorrow, allowing opposition MPs to challenge Boris Johnson’s hard-Brexit stance ahead of the October 31 Brexit deadline.

Mr Johnson, however, has remained unmoved on the UK’s leaving the EU next month, saying:

‘I must say I strongly disagree with the [court’s] judgment, and we in the UK will not be deterred from getting on and delivering on the will of the people to come out of the EU on 31 October, because that is what we were mandated to do.’

In UK economic news, today saw the publication of August’s public sector net borrowing which rose to a weaker-than-expected £5.766 billion, although this left the GBP/CHF exchange rate unmoved as political developments have remained in focus.

CHF/GBP Exchange Rate Sinks despite Resilient Swiss National Bank

The Swiss Franc (CHF) has failed to gain on the Pound today despite Switzerland’s National Bank (SNB) holding back its monetary policy despite global central banks taking a more dovish turn last week.

Jane Foley, Head of Currency Research at Rabobank, recommended caution, however:

‘The SNB have had their fingers burnt before. The biggest thing that would allow the Swiss franc to weaken would be an increase in the growth rate and risk appetite in the [E]urozone.’

However, with the Eurozone struggling with Brexit and a flagging German economy, and the US-China trade uncertainty, we could see the safe-haven Swiss Franc quickly claw back some of its losses against Sterling.

GBP/CHF Outlook: Sterling Could Rise if No-Deal Brexit is Challenged

Swiss Franc investors will be looking ahead to tomorrow’s release of September’s Swiss ZEW survey of business expectations. Any signs of improvement could see the CHF/GBP exchange rate begin to edge higher.

Sterling traders, meanwhile, will be looking to tomorrow’s publication of August’s BBA mortgage approvals figure.

The GBP/CHF exchange rate could hold onto some of today’s gains if the Conservative Government is challenged on its hard-Brexit stance in the newly reopened Parliament tomorrow.

[la forge] 23/9/2019 19:17

Stage Set for Swiss Franc Rally as SNB Saves Policy Ammunition
By Anooja Debnath
22 septembre 2019 à 07:00 UTC+2 Updated on 23 septembre 2019 à 11:05 UTC+2

Central bank likely being ‘realisticR17; about currency: Rabobank
German manufacturing slump adds to demand for haven currency

Currency traders may have a green light to push the franc higher after the Swiss National Bank refrained from joining global central banks in easing policy and as Europe’s economy worsens.

The franc has rallied since Swiss policy makers last week projected lower inflation and growth yet did not follow the European Central Bank and Federal Reserve in cutting interest rates. The SNB may be keeping its powder dry to deal with further currency gains, given rates are already at record lows.
You've reached your free

[the grumpy old men] 21/9/2019 11:24

Pound Could Slump to Parity on a Hard Brexit, BNY Mellon Says
By Ruth Carson
20 septembre 2019 à 06:27 UTC+2

Dhar recommends long positions in FTSE 100 as Brexit hedge

Cable may rise 5% from 1.25 level if U.K. secures a deal

Brexit and `Atrocious' Current Account Deficit to Weigh on Pound: Weinberg

LISTEN TO ARTICLE
1:36
.

Sterling could tumble to parity with both the dollar and the euro if the U.K. crashes out of the European Union without a deal, according to Shamik Dhar, chief economist at BNY Mellon Investment Management.

“It’s pretty clear under ‘no deal’ you’ll get a very big fall in sterling -- I’d say 10% to 15% from here,” said Dhar, a former senior manager in monetary analysis at the Bank of England. “We’ll test parity against the euro, probably the dollar as well in that circumstance, and we’ll be entering a world where the central bank will be cutting rates.”

[waldron] 19/9/2019 08:52

EURCHF:CUR
EUR-CHF X-RATE
1.0974CHF
-0.0026-0.24%

[waldron] 18/9/2019 07:28

EURCHF:CUR
EUR-CHF X-RATE
1.0997CHF
+0.0001+0.01%

[cc2014] 17/9/2019 12:22

Yeah - Deffo walking this up trying to find sellers who aren't appearing.

[cc2014] 16/9/2019 12:11

Further to post #4369, the bid is easily holding at 67 and it looks to me like the buyers continue to try and get whatever volume they can at this price.

My guess is it will stay here for another few days depending on the polical picuture before the buyers will be again foreced to move up the share price to get some volume.

Fingers crossed.

[cc2014] 12/9/2019 22:57

Well the buyers spent all morning and some of the afternoon waiting for the sellers to come to them which didn't happen. Eventually they moved the price up and we still didn't see any sell volume of any size appear.

It would be good to see the share price beginning with a 7 again soon

[roddiemac2] 12/9/2019 22:30

CC2014,

Thanks for your summary .

[waldron] 11/9/2019 08:08

Franc Still ‘Not That Strong’ to Spur SNB Action, StanChart Says
By Anooja Debnath
10 septembre 2019 à 17:59 UTC+2



Even after rallying to a two-year high, the Swiss franc may be far from levels that would prompt the central bank to act to curb exchange-rate strength, according to Standard Chartered Plc.



BLOOMBERG

[cc2014] 09/9/2019 11:11

I attended the recent AGM and was happy with what I learnt. To summarise:

UK volume and margins are currently stable but political uncertainty means directors can't predict the future any more than we can. Brexit with a deal will release held back orders but Brexit without a deal will likely lead to margin pressure.

Europe is going to plan.

India looks very optimistic. Transition from concrete to steel continues and SFR will see significant growth.


I continue to struggle with the low share price. India by 2022 is predicted to have the largest population in the world and SFR's market share is currently tiny.


Seperately I note anyone wanting to buy is now having to pay around 65 and the bid is creeping up very slowly as if the algo's are looking for volume and trying to buy as cheap as possible. I assume the AGM update was enough to stop whoever was selling or maybe they just wanted out before the update for whatever reasong.

[grupo guitarlumber] 06/9/2019 11:54

Signatories of the letter include the German states of Baden Württemberg, which initiated it, and Bavaria; three neighbouring regions of France (Auvergne-Rhône-Alpes, Bourgogne-France-Comté and Grand Est); two in Austria (Tyrol and Vorarlberg) and two in Italy (Val d'Aosta and Bolzano-Alto Adige).

[grupo guitarlumber] 06/9/2019 11:51

Swiss-EU relations
Neighbouring regions urge EU understanding for Switzerland
This content was published on September 4, 2019 8:49 PM Sep 4, 2019 - 20:49
Swiss and EU flags

The European Union and Switzerland have been negotiating a framework deal on bilateral relations since 2014.
(Keystone)

Nine regions or provinces in countries bordering Switzerland have called on the European Union to show understanding and allow the Swiss more time to agree a framework deal.

In a joint letter to EU Commission President Jean-Claude Juncker on September 2, they expressed concern that recent developments were a cause for concern, particularly the Swiss-EU stock exchange spat which could create a “downward spiral”, according to media reports on Wednesday. The letter, of which the Swiss news agency Keystone-ATS obtained a copy, was also sent to Juncker’s successor Ursula von der Leyen.

+ Read more about the Swiss-EU stock exchange spat

The regional leaders deem the framework deal negotiated between the European Union and Switzerland to be just and fair but fear the consequences for neighbouring regions if it were to be rejected in a Swiss popular vote. They say that Switzerland’s political system of direct democracy means it needs the time to bring all social groups on board.

Signatories of the letter include the German states of Baden Württemberg, which initiated it, and Bavaria; three neighbouring regions of France (Auvergne-Rhône-Alpes, Bourgogne-France-Comté and Grand Est); two in Austria (Tyrol and Vorarlberg) and two in Italy (Val d'Aosta and Bolzano-Alto Adige).

Since 2014, Bern and Brussels have been trying to formalise long-term ties in an institutional framework agreement. Relations are presently covered by around 120 separate bilateral accords negotiated since a 1992 referendum in the Alpine state rejected joining the European Economic Area.   The proposed overarching agreement covers five of the larger bilateral deals: free movement of people, mutual recognition of industrial standards, agricultural products, air transport, and land transport. 239;

But with Swiss parliamentary elections due in October, the deal has become entangled in domestic politics, with opposition from both the left and right.

Keystone-SDA/jc

[waldron] 05/9/2019 23:49

EURCHF:CUR
EUR-CHF X-RATE
1.0880CHF