Greek unemployment still rising September 12, 2013 Greek unemployment has risen to 27.9 per cent during June, compared with 27.6 per cent in May. Youth unemployment remains high: Greek youth unemployment rate more terrifying than ever: 58.8% — Olly Barratt (@ollybarratt) September 12, 2013
Carney concedes that markets expect unemployment to drop faster than Bank of England projections September 12, 2013 Bank of England govenor Mark Carney has conceded that markets are pricing in a rate hike before the Bank of England's projections show unemployment falling to the central bank's seven per cent threshold. Carney said that until unemployment falls to seven per cent that rate hikes will not be considered. However, forward guidance documentation already [...]
European industrial production sees unexpected fall for July September 12, 2013 Figures from Eurostat show an unexpected dip in industrial production for the eurozone. Whilst June saw an up of 0.6 per cent, July has come in down -1.5 per cent – analysts consensus had predicted a fall of just 0.1 per cent. A surprisingly large decline in industrial production in July for #eurozone, -1.5%. Back [...]
Bank of America bullish on Britain – Sees UK stocks up 30 per cent by end of 2015 September 12, 2013 A note published today shows Bank of America Merrill Lynch is bullish on the UK's prospects. Their comments below. John Bilton, European investment strategist: After 5y of slow growth the UK recovery is picking up paceThe UK economy shrank 7% peak to trough in 2008/9; and in the last 4y grew at just 1% per [...]
Hot weather sees Argos sell more fans in two weeks than the whole of 2012 September 12, 2013 Home Retail Group, the owners of Argos and Homebase, has seen like-for-like sales grow at both retailers in the 13 weeks to 31 August (release). Argos has seen like-for-like sales up 2.7 per cent in the second quarter as net sales space rose 0.3 per cent. Some benefit from the recent UK heatwave, as Argos [...]
Unexpected drop in Italian industrial output September 12, 2013 Industrial output in Italy has fallen by -1.1 per cent in July, down from 0.2 per cent in May. Analysts expected a 0.3 per cent drop. The figures, released by the National Institute of Statistics, show a year-on-year decrease of -4.3 per cent (down from -2.1 per cent) but analysts expected only -2.5 per cent. [...]
UK win over EU short-selling ban could open door to tackle swathes of legislation September 12, 2013 UK opposition to the European Union's "wide" powers to ban short-selling may be successful, as the rules could be unlawful, according to an EU court aide. Advocate general Niilo Jaaskinen: The emergency powers granted by that article to the European Securities and Markets Authority to intervene in the financial markets of member states so as [...]
Next plans growth as it does well in first half of 2013 September 12, 2013 High street retailer Next has published encouraging figures for the first half of 2013, with sales up 2.2 per cent at £1,677m. (Release) Next plans continued growth by developing product ranges and Next online, and acquiring new retail space. Profit before tax stood at £271.8m, up 8.2 per cent from the same period in 2012. [...]
Ocado sees sales swell ahead of Morrisons partnership September 12, 2013 It's been a really good 12 weeks for Ocado with confirmation that they'll be partnering up with Morrisons from early 2014. The e-grocer has seen gross sales up 18.8 per cent on the same 12 weeks to mid-August last year, reaching £189.2m (release). Orders are also looking more healthy. Per week numbers have risen 15.3 [...]
Engineering merger off as Amec gives up Kentz chase September 12, 2013 After a bid on 19 August, engineer Amec has given up on a purchase of smaller peer Kentz, concluding that "it does not intend to make an offer" (release). Amec's first proposal valued Kentz at £660m, an offer that shareholders found unappealing. Kentz have also commented on the withdrawal of Amec's offer (release): As previously [...]