At the close: FTSE 100 bulldozes over Brexit concerns as oil and metal prices climb June 6, 2016 The FTSE 100 managed to kick off the week with a rise today, finishing up one per cent at 6,273.40 points. A jump in commodity prices managed to offset fears of Brexit that dragged down house builders. A flurry of recent polls have put the leave campaign neck-and-neck with remain as the 23 June vote draws nearer. The news [...]
People can’t resist pinching pennies with restaurant vouchers and money-off shopping codes, but are less keen on switch providers for household bills June 6, 2016 Brits are an oddly selective bunch when it comes to cutting down on expenses, a report out today suggests. The study by EDF Energy discovered that people are more likely to hunt down bargains on things like food shopping or days out than they are to see if they can get a better deal on their [...]
Before the bell: What you need to know before the US market open June 6, 2016 Markets are hoping for clarity from Fed chair Janet Yellen later and a British exit from the European Union is looking more likely as a poll gap narrows. Here's what you need to know before the US market opens at 14:30 London time. US stocks are pointing up in the pre-market. The S&P is up by 0.13 per cent, the [...]
Investors look to production data as FTSE flattens June 6, 2016 Industrial data will be in focus this week as investors look for signs of life in the sector. With rising fears of a second quarter slowdown for the UK economy, poor industrial and manufacturing production figures on Wednesday could stoke broader fears. In March industrial production was wallowing 10 per cent below pre-crisis levels, with the [...]
Public encouraged to take more risk to compensate for smaller pension pots June 5, 2016 “Work longer, save more and look to take more risk” was the gloomy advice from the pensions sector following the reports over the weekend that those entering retirement now can only expect to receive half the income of their counterparts at the turn of the century. The Organisation for Economic Co-operation and Development (OECD) will lay [...]
Proposed government plans on steel pensions could see oldest pensioners losing out on thousands, warns former minister June 4, 2016 Proposals to rule changes for the British Steel Pension Scheme could strike the oldest and most vulnerable pensioners the hardest, a former pensions minister warned today. Steve Webb, who is now director of policy at Royal London, said his firm's calculations suggested that an 80-year-old currently receiving an income from the scheme could be as much as £10,000 [...]
This is how many people think they won’t be able to afford to leave anything to their loved ones June 3, 2016 They say you can't take it with you but a significant number of people are worried that they can't leave it behind either. Less than a third (28 per cent) of those retiring this year think they can afford to leave an inheritance, research released today has found. The study by Prudential discovered that the [...]
At the close: Opec uncertainty holds the FTSE 100 down June 2, 2016 What was a volatile day on the markets ended rather flat. Big European Central Bank (ECB) and Opec meetings in Vienna failed to move the FTSE 100 far in either direction and it ended down 0.1 per cent at 6,185.61 points. The ECB decided, as expected, to keep interest rates on hold. Though it did raise growth and [...]
Royal London wants to add a bit more clarity to income drawdown, and they’ve got just the product to do it June 2, 2016 Royal London has today launched a product which aims to give advisers a bit more insight into the sustainability of their clients' available income for drawdown. The Drawdown Governance Service, which is aimed at advisers whose clients hold an Income Release drawdown plan with Royal London, will provide details such as an income sustainability score and easy-to-read reports [...]
A vote to leave the EU could send the FTSE 100 south by 10 per cent over 12 months, bankers at UBS have warned June 2, 2016 Quitting the EU could knock the FTSE 100 back by 10 per cent over the next 12 months, to levels last recorded in February this year, UBS Wealth Management has warned. The pound would also take a hit, dropping to $1.25 and €1.20. In February the FTSE fell as low as 5536.97, 10 per cent off its current 6,185.79. The fall would [...]