Bank of England struggles to find sellers for debt plan
The Bank of England has struggled to find enough sellers of debt to meet its target to buy over £1 billion of long-dated government debt.
The ambitious target was set just last week, but has got off to a rocky start. The statement, released today, was unclear as to the state of the plan moving forward.
The Bank has said it will make up the shortfall in the second half of the year. The failure has had a negative effect on bond yields, causing the yeild on 10-year gilts to drop 0.56 percent overnight.
Entertainment One declines ITV offer, shares rise
Entertainment One, the owner of popular kids programme Peppa Pig, has rejected a takeover bid from ITV.
Shares in Entertainment One closed up 10 percent on Tuesday after speculation that ITV may bid again with a higher offer. In contrast, ITV shares fell this morning, before recovering back into positive territory.
Entertainment One’s board unanimously rejected the bid, saying that “it fundamentally undervalues the company and its prospects”.
Asian shares hit one year high
Asian shares soared on Wednesday, in sharp contrast to a slide in the dollar and Treasury yields after poor US data.
The Hang Seng index closed up 0.12 percent at 22,492.43, with the MSCI’s index of Asia-Pacific shares rising to its highest point in a year. However, the Nikkei closed in negative territory, down 0.18 percent, pulled down by a troubled yen.
10/08/2016
