Eyes on the PMI as services and sterling in the spotlight September 4, 2016 Sterling could be set for a bumpy day of trading tomorrow as the closely-watched services purchasing managers’ index (PMI) is set to provide another clue to the health of the post-referendum economy. Analysts expect the industry, which accounts for the vast majority of the UK economy, to bounce back above the crucial no-change 50-mark on the PMI. [...]
Japan’s issued 18 demands for Brexit or businesses could leave for EU September 4, 2016 Japanese businesses have issued an astonishing list of demands it wants from the UK and Europe ahead of Brexit negotiations at the G20 Summit, where Prime Minister Theresa May is starting informal trade talks. The 18 requests covering trade ties between the countries were made in a 15 page report issued by the Japanese government on [...]
Back of the queue? Barack Obama warns of UK-US trade “unravelling” September 4, 2016 US President Barack Obama has praised the special relationship between the UK and the US, but warned that both countries needed to do everything they could to prevent those strong ties from "unravelling" as he indicated other major global trade agreements are a priority. Speaking at the G20 Summit, Obama said the priority was to complete [...]
Theresa May talks up “golden era” for UK-China relations ahead of G20 September 3, 2016 Prime Minister Theresa May has said this is a “golden era" for UK-China relations, amid doubts over the UK government’s commitment to Hinkley Point. Speaking at Heathrow ahead of her first international conference as PM at the G20 summit in China, May also said that Britain will be a “global leader” in free trade after the Brexit [...]
FTSE 100 ends the week tantalisingly close to 7,000, pushed up by pharma – as housebuilders regain losses September 2, 2016 The FTSE 100 ended the day at 6,894.6 points – 2.2 per cent higher, and within spitting distance of that 7,000 mark. The index was pushed up by pharmaceutical and mining stocks, with Hikma Pharmaceuticals leading the pack, jumping 5.2 per cent to 2,185p. That was followed by Unilever, which rose 3.8 per cent to 3,663p – [...]
FTSE-listed housebuilder share prices have tumbled after McCarthy & Stone’s gloomy Brexit outlook September 2, 2016 Just when we thought things were beginning to look up, housebuilder shares uniformly drooped this morning, after retirement home builder McCarthy & Stone presented a gloomy outlook about the impact of Brexit. Persimmon was the biggest faller among the FTSE 100-listed builders, dropping 2.9 per cent to 1,815p in mid-morning trading. That was followed by Berkeley [...]
Oil prices rebound slightly – but still set for biggest weekly fall since January September 2, 2016 Oil prices rebounded slightly this morning – but it wasn't enough to prevent them from heading for their biggest weekly drop since January. Brent crude futures ended yesterday’s session at $45.45 per barrel, but was up at $45.76 in early trading in London. However, this was down more than eight per cent since the beginning of this week, when [...]
The Great Fire of London made the city an insurance hub – here’s what we need to do to maintain that status September 2, 2016 This week we’re marking the anniversary of one of London’s defining events: the Great Fire of London, which ravaged the city at the start of September 1666. It was started by nothing more than a fire from an overheated oven at a baker’s shop near London Bridge. The damage was immense. The Association of British [...]
Bye bye Brexit slump? Pound jumps on surprise rebound in manufacturing and improved confidence among British businesses September 1, 2016 Britain's post-referendum prospects received a shot in the arm yesterday as new figures revealed a rebound in manufacturing, causing the pound to rise sharply against the dollar. Growth in UK manufacturing smashed expectations in August, suggesting that the sector has weathered the Brexit storm. And new polling figures out on Friday will show that business confidence recovered [...]
Oil prices are headed for their largest weekly drop since January September 1, 2016 Oil prices dropped by more than three per cent today as they head for their biggest weekly fall since January, with investors worrying over US crude stockpiles. Brent crude futures ended the session at $45.45 per barrel, down $1.44 or 3.07 per cent. U.S. crude's West Texas Intermediate (WTI) futures closed down $1.54 or 3.45 per [...]