UK GDP second estimate: UK exports jump as GDP growth stays flat August 28, 2015 A sharp upward revision to US second-quarter GDP yesterday sent markets around the world higher. Alas, data out of the UK was a little more muted. Official statistics released today confirmed Britain's economy grew 0.7 per cent in the second quarter of this year. However, economists said that the underlying data shows some rebalancing in the [...]
Say what? Greek GDP revised up to 0.9 per cent August 28, 2015 Well, here's a line we didn't expect to hear this year: growth in Greece has been revised up to 0.9 per cent in the second quarter. That's better growth than the UK achieved… The figure was revised up from an initial reading of 0.8 per cent growth, which was itself seen as pretty optimistic – [...]
Swiss economy grows at 0.2 per cent in second quarter of 2015 as private spending offsets a strong Swiss franc August 28, 2015 The Swiss economy grew 0.2 per cent in the second quarter of 2015 – meaning the country has narrowly missed sliding into recession. Economists had expected a contraction of 0.1 per cent, which would have caused the country to slide into recession. In the first quarter of 2015 the economy shrank 0.2 per cent. But [...]
Oil prices keep rising – just in time for the great bank holiday getaway (but the good news is Morrisons and Sainsbury’s have cut petrol prices) August 28, 2015 After Brent crude made its biggest one-day gain in six and a half years yesterday, rising more than 10 per cent to $47.56 per barrel, it looks like oil prices are continuing to rise today – just in time for the great bank holiday getaway. This morning Brent crude was up more than one per [...]
Asian markets continue to rebound, with Shanghai Composite, Nikkei, Hang Seng, ASX 200 up August 28, 2015 A sea of red screens can be seen around Asia as markets continue to rise, including in China, building on positive performance yesterday and a strong finish by markets in the US. The Shanghai Composite rose as much as two per cent in mid-morning trading, gaining on the 5.4 per cent it rose yesterday. Japan's [...]
Total reaches £585m deal to sell North Sea oil and gas assets August 28, 2015 French oil major Total plans to rid itself of £585m of its North Sea assets to North Sea Midstream Partners. The company is selling all of its interests in the Fuka and Sirge gas pipelines and the St. Fergus gas terminal. The Fuka pipeline, in which Total has a 100 per cent operated interest, [...]
Oil prices jump more than 10 per cent in biggest one-day rally since 2009 August 27, 2015 Oil prices went through their sharpest rise in six and a half years today, as the commodity benefited from recovering equity markets and reduced fears over China's economic slowdown. Read more: Commodities plunge to 16 year low as China fears push oil prices down further US crude finished the day 10.3 per cent higher [...]
FTSE 100 gains £60bn in one day as investors regain confidence August 27, 2015 It's been a rollercoaster of a week for the FTSE 100. Having lost £72bn on Monday, won half of it back on Tuesday and then suffered losses again on Wednesday, the direction the blue-chip index would head in next seemed far from certain. Read more: Emerging Market stocks and currencies rally on doubts of a [...]
Emerging market stocks and currencies rally on doubts of a US rate rise August 27, 2015 Emerging markets made major gains today after doubts were cast over a US interest rate rise next month. Read more: US stocks rise sharply as investors recover from China panic The MSCI emerging markets index is currently 3.3 per cent higher, having climbed steadily since the start of trading. The rouble has also [...]
Bank of England governor Mark Carney’s interest rate rise comments prompted a flurry of house buying in July August 27, 2015 Bank of England governor Mark Carney's suggestion that the rate decision will "likely come into sharper relief around the turn of this year" has prompted a flurry of homebuying, new figures suggest. Demand for houses rose 4.1 per cent in the year to July, and 5.3 per cent in the last month alone, according to [...]