FTSE round up: Index drops on oil and mining share sell-off following fears of oversupply November 23, 2018 The FTSE 100 closed 0.14 per cent down this week after falling to 6,950.82, driven by a sell off in oil and mining shares. The biggest faller was silver and gold miner Fresnillo which saw a 6.98 per cent decrease to 746.4p as the company continued to feel the effects of being downgraded by Morgan Stanley [...]
Eurozone growth slows to four-year low due to sluggish manufacturing sector November 23, 2018 Eurozone business activity growth slumped to the lowest rate in four years, according to the latest statistics. The slowdown hit the manufacturing sector hardest, where output only rose marginally, due to subdued car sales, weakened global demand, rising political and economic uncertainty and trade wars. Service sector growth fared slightly better however growth still declined [...]
Cryptocurrency slump continues as regulation threat bites November 23, 2018 Cryptocurrencies continue to decline today amid a toughening regulatory environment. The world’s largest cryptocurrency bitcoin has fallen by 3.51 per cent to $4,314.68, according to data from Coindesk, while Ethereum has dropped 6.47 per cent to $123.34. Bitcoin is trading almost 80 per cent down on this time last year, after falling below $5000 to [...]
Embattled budget airline Flybe’s shares take off as it confirms Virgin Atlantic talks November 23, 2018 Struggling low cost airline Flybe’s shares soared 23 per cent this morning as it confirmed reports that Virgin Atlantic is in talks to buy it. Billionaire Sir Richard Branson’s airline began talks to buy the company after the Exeter-based airline put itself up for sale earlier this month, Sky News reported last night. Shares later [...]
University pension scheme to carry out financial review after record walk-outs this year November 22, 2018 The Universities Superannuation Scheme (USS) pension plan has announced it will yet again review its funds after thousands of members protested having been told their benefits were too expensive. Last time the USS carried out a review, less than a year ago, it found a £7.5bn gap in its finances sparking the longest strike among [...]
FTSE 100 retailers boosted by Brexit breakthrough, but stronger sterling hurts blue chip index November 22, 2018 Retailers and housebuilders were leading the way in the FTSE 100 this afternoon following the news that the UK and EU have agreed a draft text on their future relationship after Brexit. Online delivery service Just Eat saw its share price increase by nearly four per cent, while online gambling firm GVC Holdings, Berkeley Homes, Burberry [...]
Brexit: UK economic outlook hinges on May selling deal November 22, 2018 | City Talk The deal is largely as we expected – but this is only the end of the beginning. UK’s negotiating power has been overestimated by many; the EU has dictated the terms of Brexit from the beginning. We believe that the risk of a no-deal Brexit will focus minds and lead to cross-party support for May’s [...]
Money in your pocket: UK salaries set to increase in 2019 November 22, 2018 Workers in the UK are expected to receive a 0.8 per cent real-term salary increase in 2019, double the increase received in 2018. The average UK private sector worker will receive an extra £20 per month or £237.35 per year before tax. This follows a better-than-expected salary increase for UK workers in 2018 of 0.4 [...]
DEBATE: As shares continue to tumble, could this be the beginning of the end for Apple? November 22, 2018 As shares continue to tumble, could this be the beginning of the end for Apple? Fiona Cincotta, senior market analyst at City Index, says YES. The easy money momentum trade on Apple looks to be well and truly over. As Apple heads into bear market territory and innovations are lacking, the future is looking less rosy for [...]
OECD: Global growth slows due to US-China trade war and political uncertainty November 21, 2018 Trade conflicts and political uncertainty have sparked a global growth slowdown, according to the Organisation for Economic Cooperation and Development's latest economic outlook. The OECD lowered its forecasts for 2019, saying global GDP would grow 3.5 per cent, down from its previous forecast of 3.7 per cent, and that growth in 2020 would remain at 3.5 [...]