Offshore banking business may benefit from market fears

Offshore banking businesses and other ’safe’ investments could see increased interest from wealth management professionals amid persistent fears over market growth.

Strong demand for the yen contrasted with falling euro performance, indicating concern regarding eurozone economic woes and inconsistent global growth, reports the Financial Times.

Investors considering offshore banking may also fear weak trading in Asian markets, which combined with the heavy weighting of financial and mining stocks to depress the FTSE 100 today (June 29th), reveals the publication.

The end of a programme by the European Central Bank to support liquidity funding for financial groups has also impacted negatively on perceived strength in European markets, as wealth management professionals await signs of a sustainable recovery.

Industrial commodities trading suffered due to fears of softening demand from ’Asian tigers’ such as China.

Oil has dropped 1.6 per cent to just over $76 (£51) per barrel, while precious metal trading has held steady, with gold rallying slightly to $1,239.63 (£823.12) an ounce. ADNFCR-2318-ID-19863152-ADNFCR