Graeme Wearden until 2.

Monday 5 June Markets were also unsettled by volatility in sterling, reacting to the latest opinion polls, as well as the terror attack in London. And the diplomatic crisis in the Gulf, which sparked a rise then fall in the oil price, added to the uncertainty. Jasper Lawler, senior market analyst at London Capital Group, said:.

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Markets softened at the beginning of what could be a game-changer of a week in politics and monetary policy. The managing director of the International Monetary Fund, Christine Lagarde, is willing to participate in a Greek bailout and give European creditors more time to settle an ongoing dispute over debt relief, she told Handelsblatt in an exclusive interview.

The tiny Gulf state of Qatar has been literally and figuratively isolated by the escalating row with its Arab neighbours, with land, sea and air routes closed off in an unprecedented crisis in the Arabian peninsula that threatens longstanding trade deals.

The closure of the only land route into Qatar as well as the airspaces of Saudi Arabia , the United Arab Emirates and Bahrain in effect established a blockade on Doha, which relies almost entirely on imports to feed its population. The pound is continuing its recent volatility, something which is likely to continue this week in the run up to the UK election as various polls emerge but with little in the way of consistency.

Sterling is currently up 0. Connor Campbell, financial analyst at Spreadex, said:. Sterling gradually widened its growth, taking 0.

Cable still has a bit to go before it has clawed back all of the losses it suffered this time last week, while the pound has barely escaped its 7 week lows against the euro Despite a weakening in [the UK] services PMI for May to YouGov appear to be doubling down on their recent survey by suggesting that the Conservatives will fall short of a majority by 21 seats, while the latest ICM poll shows a lead of 11 points. Markets appear to be taking the view that the YouGov poll is an outlier and unreliable which when you look at the margin for error on it, and the balance of probabilities right now, seems a sensible conclusion.

The ISM non-manufacturing PMI fell from Meanwhile US factory orders fell for the first time in five months, down 0. The March figure was revised up from the previous 0. The surveys show that the US economy is enjoying steady if unspectacular growth, said Chris Williamson, chief business economist at IHS Markit: Although service sector business activity picked up in May, the PMI surveys for manufacturing and services collectively indicate only a modest pace of economic growth so far in the second quarter.

However, the key message from the PMI is that the economy is enjoying steady, albeit unspectacular, growth, and that the pace of expansion has been slowly lifting higher in recent months. The final Markit services PMI reading for May came in at It was still the highest level since February. It was a similar picture for the composite index - services and manufacturing together - which rose from Ahead of the latest service sector surveys from Markit and ISM , US markets have indeed slipped back at the open.

After hitting another record high on Friday, the Dow Jones Industrial Average is currently down 17 points of 0. Futures point to a slight dip to start the week https: Meanwhile the oil price has lost its early gains, which were made on the back of the Qatar news. Strength in the dollar - which makes oil less affordable for international buyers - seems to be outweighing the prospect of supply shortages following the Gulf dispute.

In any case, Qatar is not a major producer of oil, rather it specialises in liquefied natural gas LNG. Clement Thibault, senior market analyst at Investing.

According to the latest data, five of the top 10 oil producers in the world are Gulf countries Saudi Arabia, Iraq, Iran, UAE, Kuwait. However, Qatar is a minor player among the OPEC big boys. Its strength is aligned with LNG.

By land, Qatar is completely blocked by Saudi Arabia. By sea, its exporting tankers have to pass through the Strait of Hormuz, situated between Iran and the UAE, putting it in a precarious situation any way it turns.

Asian customers such as Japan, India, and South Korea would be the most affected by a disruption in NG service, since they are the major importers of Qatari gas The Middle East is after all an energy powerhouse, but also rather notorious for a lack of political stability. Any geo political incident coming out of this region could have worldwide energy implications.

After a rough session of heavy losses, the Qatar stock market has closed down 7. The Qatar Stock Exchange has closed down 7. All 44 stocks were in the red. After a fairly quiet morning in London, the FTSE has dropped by 22 points to 0. Mining stocks such as Antofagasta The figure fell from The FTSE ended up bearing the brunt of the bad news, falling 0.

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I got out of surgery yesterday and am on the mend. Sunday Express business editor Geoff Ho injured after confronting London Bridge attacker https: So upset to find out this morning that Geoff Ho FinanceHog was caught up in last nights attacks. Praying for speedy recovery LondonBridge. Wishing a full and speedy recovery to Geoff Ho aka FinanceHog - a top business hack, always a pleasure to deal with https: Reuters is reporting that some Egyptian banks have suspended links with their counterparts in Qatar:.

SOME EGYPTIAN BANKS HALT DEALINGS WITH QATARI BANKS AFTER CAIRO CUTS TIES WITH QATAR - BANKERS.

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The Guardian - Back to home. Four neighbours cut ties over terrorism links UK services sector slows as general election hits demand Key events Show 5. Why Qatar crisis matters 9. Jasper Lawler, senior market analyst at London Capital Group, said: Facebook Twitter Google plus.

The full story is here: Qatar blockade could hit state airline, al-Jazeera and World Cup. Connor Campbell, financial analyst at Spreadex, said: End of spring items and beginning of summer. Gapping of some items. Beef is increasing in price, especially grilling meat cuts. Scarce construction labor seems to be the driver. MarketWatch MarketWatch Futures point to a slight dip to start the week https: Connor Campbell of SpreadEx says: Al-Hammoury NourHammoury SOME EGYPTIAN BANKS HALT DEALINGS WITH QATARI BANKS AFTER CAIRO CUTS TIES WITH QATAR - BANKERS June 5, Nour E.

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Sterling Economics Currencies Services sector Qatar. US signs deal to supply F jets to Qatar after Trump terror claims. Human cost of the Qatar crisis: Move by Gulf nations to order Qataris out of their countries amid ongoing row has had huge impact, say campaigners. Boris Johnson urges Qatar to crack down on extremists. UK foreign secretary also calls on Gulf states to ease blockade in his first intervention in two-week-long clash.

Order by newest oldest recommendations. Show 25 25 50 All. Threads collapsed expanded unthreaded. Loading comments… Trouble loading? Signed in as Show comment Hide comment. Your comments are currently being pre-moderated why? Please keep comments respectful and abide by the community guidelines. Qataris ponder 'the situation' as blockade against emirate bites.

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Talk of the implications of the crisis, and the alleged hacking and fake news that may have fuelled it, is unavoidable in Doha. We worry about Trump, but rush to embrace the Qataris Catherine Bennett. Trump escalates row by accusing Qatar of sponsoring terror. Qatar crisis grows as Arab nations draw up terror sanctions list. Gulf states give up hope on Qatar. The Guardian back to top.