What next for the FTSE 100? December 19, 2016 | City Talk The FTSE 100 largely brushed aside concerns over Brexit and the US election in 2016 to hit its highest ever level of 7,129.83. However, the index has struggled to maintain its momentum and push on from that record high reached in October. Here we take a look at why the index remains near record highs [...]
Eurozone wage growth rebounds as manufacturing and industry post strong gains – but Italian wages shrink December 19, 2016 Wage growth across Europe rebounded in the third quarter, in a sign the Eurozone economy may finally be responding to the European Central Bank’s (ECB) ultra-low interest rates. The cost of labour in the Eurozone rose by 1.5 per cent, while workers’ pay in the broader EU was driven higher – by 1.9 per cent [...]
German business confidence is at its highest level since February 2014 December 19, 2016 Germany business confidence rose in December to hit its highest level in almost three years, data has revealed today. The Ifo economic institute, based in Munich, said its its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.0 this month, from 110.4 in November – beating Reuters' forecast of 110.7. [...]
Video analytics firm Big Sofa announces Aim flotation after raising over £6m December 19, 2016 Video analytics firm Big Sofa begins trading today on London’s junior market, with an eye on US expansion. Big Sofa has raised around £6.1m by way of a placing of, and subscription for, new ordinary shares at 17 pence per share, valuing the business at £10m. It hopes the fundraising will boost expansion in the [...]
Oil prices: Brent crude and West Texas Intermediate crude lift on Libya production halt and expectation of tighter market December 19, 2016 Production halts at two of Libya's major oil fields and anticipation of tighter crude supply next year lifted oil prices this morning. Libya's National Oil Company yesterday stopped the relaunch of production at its two biggest oil fields after a militia threatened to block the crude from reaching the market. The fields, known as El Feel and [...]
The manufacturing industry had some of the biggest job losses across the UK economy last year December 19, 2016 The UK manufacturing industry recorded some of the biggest job losses last year, impacted by international competition and technological advances. According to accountancy group UHY Hacker Young, the industry had some of the biggest job losses of all sectors across the UK economy. Out of 69 sectors measured for job creation, manufacturing made up three of [...]
Why rising longevity threatens to kill off the traditional City of London pay pyramid December 19, 2016 Many professional service and financial firms operate a pay pyramid – those at the top earn large multiples of those lower down the organisation. Average partner salaries in the Big Four accounting firms, for instance, are around £750,000 but around £40,000 for those starting out. Similar structures are found in law and finance. While undoubtedly [...]
China tops poll of UK investor expectations of highest stock returns in 2017 December 18, 2016 China will deliver the highest equity returns in 2017, despite prominent warnings that a slowdown in the world’s second largest economy presents one of the biggest risks to the global financial system, according to a poll of 9,000 UK investors. Over a quarter of UK investors believe that China will outperform every other major region, [...]
Another miss for London’s IPO market? Parkdean Resorts sold to Canadian private equity house December 18, 2016 A Canadian private equity house this weekend announced the acquisition of a UK caravan holiday parks operator, in a deal that could be seen as another loss for London’s flotation market. Toronto-based Onex Corporation has agreed a £1.35bn deal for Parkdean Resorts, which is currently owned by Epiris, formerly known as Electra, and Alchemy. The [...]
The UK is becoming less attractive for foreign investment after Brexit December 18, 2016 The country's position as the most attractive place in Europe for foreign investors is at risk in the long term without quick action from the government to secure confidence. The EY Attractiveness Survey, which measures investor sentiment among the world's top business leaders, found short-term confidence in the UK as a place to invest is holding [...]