Week ahead: City braces for soft economy data and US inflation figures August 7, 2022 Top of City traders’ minds this week will be whether fresh GDP figures reveal the UK is already in the early stages of the drawn out recession the Bank of England forecast last week. Despite the economic doom, London’s FTSE 100 was broadly stable, edging 0.16 per cent lower to close the week at 7,439.74 [...]
Equity exodus continues as UK investors pull £416m from funds August 5, 2022 Nervous UK investors are pulling cash from equity funds in droves as soaring inflation continues to batter global stock markets.
Evraz profits plunge 99.5 per cent as sanctions hit August 4, 2022 Russian steel giant Evraz saw its profits fall by 99.5 per cent in the first half of the year after sanctions were slapped on the firm in May and demand for its products dried up.
London markets turn around early losses on strong company earnings August 3, 2022 London markets turned around early morning losses today, driven by a bumper crop of results lifting market sentiment. The FTSE 100 and 250 were initially weighed down by a poor session on Wall Street on Tuesday triggered by fears over escalating tensions between the US and China after house speaker Nancy Pelosi’s trip to Taiwan. [...]
Sheepish consumers deal blow to UK services economy August 3, 2022 Consumers cutting spending in response to a historic inflation surge has weighed on growth in the UK’s services economy, reveals a closely watched survey published today. Brits are being squeezed by soaring living costs eroding their incomes, prompting them to cut unnecessary spending to protect their finances. As a result, growth in the services industry [...]
London’s FTSE 100 tips into red despite BP and Shell’s best efforts August 2, 2022 Historic profits at oil giant BP nearly pushed London’s FTSE 100 into positive territory today. The capital’s premier index edged 0.06 per cent lower to 7,409.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped over one per cent to below 20,000 points. Oil [...]
Man Group shares dive as choppy markets spark fall in assets under management August 2, 2022 Shares in fund management giant Man Group plunged nearly six per cent this morning after it reported a dip in its assets under management and warned that market turbulence may lead to volatile flows in the months ahead.
Insolvencies surge to highest rates since financial crash as voluntary bankruptcies hit record levels August 2, 2022 The UK government’s Insolvency Service today said it recorded a higher number of insolvencies over the past three months than at any other point in more than a decade, after the numbers of companies declaring voluntary bankruptcies hit their highest levels since records began. The past three months saw a total of 5,629 English and [...]
London markets lose early gains despite UK banks’ best efforts August 1, 2022 A bumper crop of results from Britain’s largest lender and Asia-focused HSBC initially boosted London markets today, before an afternoon collapse. The capital’s premier FTSE 100 index dropped 0.13 per cent to 7,413.42 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.22 per [...]
Glencore lowers copper production guidance due to problems at Congo mine July 29, 2022 Commodities trader Glencore today said it is set to produce less copper this year than previously forecast due to technical issues at its Katanga mine in the Congo. The Anglo-Swiss multinational lowered its copper production guidance figures by 4.5 per cent, from 1,110 kt to 1,060 kt due to the ongoing geotechnical constraints related to [...]