Happy New Fear: Chinese fireworks send panic through global stock markets January 5, 2016 Hopes of a New Year rally were shattered yesterday as fears over the health of the Chinese economy wiped trillions from stock markets and sparked concern of more turmoil to come. Investor confidence was further hampered by rising tensions in the Middle East as Saudi Arabia and its allies cut ties with Iran, accusing the country of [...]
Brent and US crude oil prices rise amid escalating political tension between Saudi Arabia and Iran January 4, 2016 Oil prices dipped again after it rose as much as four per cent today, wiping out gains made earlier in the day as rising political tension between two of the biggest powers in the Middle East stoked concern about potential supply disruptions. Brent crude, the global benchmark, fell to $37.06 per barrel, having risen as high [...]
US manufacturing contracts for second consecutive month January 4, 2016 The US manufacturing sector contracted for a second consecutive month in December, according to survey figures released today. The Institute for Supply Managemtent's purchasing managers' index (PMI) dropped to a score of 48.2 per cent from 48.6 per cent the previous month. Figures below 50 imply a decline in business activity on the month. It takes [...]
German inflation falls further below Eurozone target January 4, 2016 Inflation in Germany, the biggest economy in the Eurozone, failed to build on previous increases in December. Prices rose 0.3 per cent year-on-year, down from 0.4 per cent the month before, the figures released by German statistical office Destatis show. Annual energy price declines slowed to 6.5 per cent in December from 7.5 per cent. However, food prices [...]
Number of property investment companies becoming insolvent doubles since 2011, as banks seek out debt repayments as property prices improve January 4, 2016 The number of property investment companies going through the insolvency process has more than doubled since 2011. Research from commercial law firm EMW discovered that there were 346 insolvencies in the second quarter of 2015, but only 154 in the same period of 2011. “Ironically, the rise in insolvencies is down to the improved property [...]
Investors should stick with China despite turbulence on the CSI300, Shenzhen composite index and Shanghai composite index January 4, 2016 Markets have started 2016 firmly in the red, suffering knock on effects of a seven per cent fall in the Chinese stock market. But this early capitulation has more to do with bans of share sales and short selling than the weaker manufacturing data. Perhaps the bigger question of late is "should investors avoid emerging [...]
Eurozone manufacturing grows at fastest pace for over a year January 4, 2016 Manufacturing in the Eurozone is growing at its fastest pace since April 2014, with Italy posting its highest growth rate in nearly five years. Markit's manufacturing purchasing managers' index (PMI) – compiled from a survey of businesses – rose to a score 53.2 in December from 52.8 in November. It also slightly above an earlier "flash" estimate of 53.1. Figures above [...]
Strong mortgage market takes total UK lending growth to seven-year high January 4, 2016 Mortgage lending is climbing at its fastest pace since 2009 with total UK lending now growing at its fastest rate for seven years. Total mortgage lending in the UK climbed by £3.9bn in November, up 2.5 per cent on November 2014, according to figures released by the Bank of England this morning. “Lenders’ appetite for new [...]
UK manufacturing growth falls to three-month low January 4, 2016 The UK's manufacturing sector suffered a slow end to the year, according to business survey figures published this morning. Markit's purchasing managers' index dropped to a score of 51.9 in December from 52.5 the month before. Scores above 50 imply the sector grew over the month, with December's lower figure implying slower growth. It was also the [...]
UK house prices: There are now 10 buyers for each property on the market – with first-time buyers hit hardest January 4, 2016 Thinking of putting your house on the market this year? Now's the time to do it, after new figures suggested there are now 10 prospective buyers for each property on the market. The National Association of Estate Agents' (NAEA) November Housing Market Report showed the number of house-hunters grew 20 per cent in during the [...]