Week ahead: UK economy to enter recession in all but name as JP Morgan kicks off earnings season January 8, 2023 The UK economy is set to enter a recession in all but name after official figures out later this week will likely reveal output slumped again in November. Fresh gross domestic product (GDP) numbers, set to be released on Friday, will top London investors’ minds in a week that sees Wall Street banking giants kick [...]
FTSE 100: Anglo American and Glencore power London premier index to 2019 high January 6, 2023 The FTSE 100 has extended its strong start to the year by closing at its highest level since the summer of 2019 today, powered by mining giants in London trading. The capital’s premier index clinched the landmark after a late afternoon surge, finishing up 0.87 per cent at 7,699.49 points. Miners led the FTSE 100 [...]
US Data in Focus as we begin 2023 January 6, 2023 | City Talk Back again for another year of trading and our focus immediately shifts to the world’s largest economy in the midst of the impending global recession that we are looking at heading into the rest of 2023. As manufacturing has showed a continuing slowdown this week we turn our attention to the first non-farm payrolls release [...]
Pound sterling: 2023 could be another torrid year as it tumbles to November low against US dollar January 6, 2023 The pound has tumbled to its lowest level against the US dollar since November, pushed down by investors on both sides of the Atlantic betting the Federal Reserve will keep raising interest rates aggressively this year. The currency dropped a shade over 0.2 per cent to $1.19 this morning, leaving it trading at pre-Christmas levels. [...]
FTSE 100 Close: Standard Chartered pops after shock takeover rumours emerge January 5, 2023 London’s FTSE 100 extended its hot start to 2023 today, helped along the way by Asia-focused Standard Chartered surging after news emerged rival lender First Abu Dhabi Bank has been mulling snapping up the firm. Its shares shot up around a fifth during early exchanges in the City today, before paring back to eventually close [...]
London Metal Exchange chair quits in wake of nickel trading fiasco January 5, 2023 The chair of the London Metal Exchange announced she would quit her role today after a turbulent tenure mired by a nickel trading scandal that saw the bourse shuttered and billions of dollars of trades cancelled.
Amazon Prime, Spotify set to be worst hit by Brits cancelling subscriptions January 4, 2023 British households are cancelling online subscriptions as the cost of living soars, with Amazon Prime and Spotify among the most-searched subscriptions to be cancelled, according to a new study. According to a new study by VPN Online, Brits are increasingly cancelling their streaming subscriptions to save money amid sky-high inflation. In 2022, the average Brit [...]
FTSE 100 jumps as China zero Covid u-turn sends investors pouring into Burberry January 4, 2023 The prospect of a rebound in Chinese tourism after Beijing dismantles its tough zero-Covid policy has sent luxury fashion firm Burberry to near top of the FTSE 100 today. The more than five per cent share price kick helped drag London’s FTSE 100 index up 0.41 per cent to 7,585.20 points. The gain extends yesterday’s [...]
What lies ahead for M&A in 2023 in EMEA? January 4, 2023 | City Talk This past year has been a bit different from the prior year for M&A. After a record year in 2021, EMEA M&A saw a downshift in momentum in 2022. Both deal volumes and values in EMEA fell in the first three quarters of 2022 compared to the same time last year: there were 8,279 deals [...]
FTSE 100 shakes off January blues to pop on first trading day of 2023 January 3, 2023 The FTSE-100 shrugged off fears of industrial unrest and a slowdown across Asian markets this morning as it jumped beyond 1.5 per cent at market open.