Global News: Giving Wall Street banks one of its biggest victory under the Trump administration, two US banking regulators on Tuesday approved the final version of the Volcker Rule, which banned banks from trading on their own account, even as proposed changes have been criticized for fear of new systemic risks. Concerns over impending Brexit, the political crisis in Italy and prospect of more central bank easing boosted demand for government bond, sending Treasury yields lower on Tuesday. Weighed by declines in financial companies, equity slipped on Tuesday after three sessions of strong gains.
European News: Italian Prime Minister Giuseppe Conte announced his resignation on Tuesday, opening way for a search for a new coalition government. The PM accused League party chief and his interior minister, Matteo Salvini, of seeking to cash in on his rising popularity for personal and political gain at the cost of the 14-month-old government and national interests. The European Union on Tuesday refused a demand by Prime Minister Boris Johnson to axe the Irish backstop plan and renegotiate the Brexit divorce deal. The EU said that Johnson had not provided any realistic alternative. The monthly order book balance of the Confederation of British Industry (CBI) rose to -13 from -34 in July, indicating that the downturn in British manufacturing eased off a little in August. Kalkine Media has all the updates about latest news on stock markets.
London Stock Exchange (LSE)
Top Performers: MAB (MITCHELLS & BUTLERS PLC), ALFA (ALFA FINANCIAL SOFTWARE HOLDINGS PL) and LOOK (LOOKERS PLC) are top performers of the day and up by 8.02%, 6.87% and 5.50% respectively.
Top Laggards: KCT (KIN AND CARTA PLC), FCH (FUNDING CIRCLE HOLDINGS PLC) and NOG (NOSTRUM OIL & GAS PLC) are the top three laggards of the day and down by 14.53%, 7.47% and 6.67% respectively.
Top Three Risers: SBRY (SAINSBURY(J) PLC), PRU (PRUDENTIAL PLC) and OCDO (OCADO GROUP PLC) are the top three gainers in today’s session and up by 2.95%, 0.93% and 0.87% respectively.
Top Three Fallers: Read the complete article here: Latest Brexit News