Sterling soars to highest level this year after output smashes expectations May 12, 2015 The pound soared after this morning after UK output beat expectations in March, according to data released today by the Office for National Statistics. Total production and manufacturing rose in March, increasing 0.5 per cent and 0.4 per cent respectively. Industrial production smashed analysts expectations, as many had said it would remain flat month-on-month. This [...]
Why Opec thinks oil prices will stay below $100 for a decade May 12, 2015 The Organization of the Petroleum Exporting Countries (Opec) thinks oil will stay below $100 for a decade, and it's worried a low oil price environment won't be enough to snuff out the emerging US shale gas industry. A report seen by the Wall Street Journal has said that Opec thinks a best-case scenario will see oil prices [...]
General Election 2015: Conservative victory is about to give the pound its biggest boost in six years May 11, 2015 The pound is continuing to benefit from the Conservatives' victory in the General Election last week, and is about to achieve its biggest two-day increase against the euro in six years. After it became apparent that Cameron had won a majority on Friday, sterling went up by 1.9 per cent in value, as optimism over [...]
Greece beats deadline for €750m loan repayment to IMF May 11, 2015 Some expected Greece to default on it's latest debt repayment, but it has proved them wrong. Today, following extensive discussions with creditor nations on the struggling economy's future in the Eurozone, a transfer of €750m (£544m) was made from Greece to the IMF, beating tomorrow's deadline for the payment. It is not clear how [...]
FTSE keeps rising as Bank of England holds interest rate at 0.5 per cent May 11, 2015 The FTSE 100 was the only European market to rise today, as investors continued to show their optimism at the outcome of the election and the Bank of England's decision to hold interest rates. By lunchtime, the FTSE was trading above 7,000 points for the second day in a row, 2.47 per cent up on [...]
Outlook for UK wage growth still bleak despite rising job prospects May 10, 2015 Job prospects are improving but UK wage growth is likely to remain weak this year as companies continue to find no shortage of employees to recruit at current pay levels, the professional body for HR managers warned today. The Chartered Institute of Personnel and Development (CIPD), said falling inflation together with low job turnover and [...]
China’s central bank cuts interest rates to 5.1 per cent amid slowing economy May 10, 2015 China's central bank has cut interest rates to 5.1 per cent, as the country's economy continues to slow down. It's the third cut in six months, and the hope is that is will boost development in the country. The change will come into effect on Monday. In 2014, growth rate was 7.4 per [...]
General Election 2015: Shares, bonds and the pound all end higher after shock Tory win May 8, 2015 Shares, bonds and the pound all rallied today after the Tories swept to a shock win in the General Election, sparing investors from the inevitable uncertainty which would have come with a round of coalition negotiations. The FTSE 100 closed up by 2.2 per cent at 7,035 points this afternoon as the Tory party prepared [...]
UK house prices: Growth slows for the first time in 2015 May 8, 2015 UK house price growth has fallen on a three-month basis for the first time in 2015, according to Halifax. The figures For the three months to April 2015, house prices in the UK grew 2.2 per cent, lower than the last three months, when it was 2.6 per cent. On a monthly basis prices rose [...]
General Election 2015: Shares close down and and sterling falls as Britain heads to the polls May 7, 2015 Nervous investors sent shares in London lower today, while the pound also suffered, as Britons began to head to the polls in what's been repeatedly dubbed the most uncertain election in living memory. The bluechip FTSE 100 index closed 0.67 per cent down, at 6,886 points – although at one point in mid-morning trading it dipped [...]