Fund managers predict 1-in-4 chance of a UK recession March 1, 2016 Fund managers are feeling increasingly gloomy about the outlook for the UK economy, according to a new survey. On average, they forecast a 23 per cent chance of a UK recession during the next eighteen months, according to investment bank and research house Liberum's UK SMID fund managers’ survey. The survey also showed they're pessimistic on all [...]
Office boom fuels rise in profits at workspace provider Regus March 1, 2016 Regus shares climbed higher yesterday after the workspace provider posted a 67 per cent jump in annual profits and hiked its dividend. The company, which has over 2,700 centres across across 977 towns and cities worldwide, reported pre-tax profits of £145.7m in 2015, on sales up 15.9 per cent to £1.9bn. Underlying earnings per share rose by 51 per [...]
Japanese government’s 10-year borrowing costs fall below zero for first time ever March 1, 2016 Investors now have to pay a small fee to lend to the Japanese government. The interest rate on Japanese government bonds – tradable IOUs – has fallen to minus 0.062 per cent today. It means after 10 years the government can pay back less than it borrowed initially. Japan's shorter-term borrowing costs have already fallen below [...]
Leading private bank: Don’t panic about Brexit despite warnings over the economy, the pound, and a leap into uncertainty March 1, 2016 A top private bank has told investors not to panic over the possibility of Britain leaving the European Union, despite warnings from UBS that sterling could fall to parity with the euro if UK voters decide to quit the EU. In a special report, Kleinwort Benson said while a so-called Brexit “presents a lot of uncertainty”, [...]
FTSE 100 demotions and promotions: Paddy Power Betfair and Morrisons eligible to be on the up while Aberdeen Asset Management and Sports Direct eligible for demotion March 1, 2016 Morrisons could be returning to the FTSE 100 after just quarter of languishing in the FTSE 250 – but it may edge out Mike Ashley's Sports Direct in doing so. Morrisons, which yesterday unveiled a major new tie up with Amazon, has seen its share price soar in recent weeks. Shares are up 34 per [...]
Greggs’ share price leaps after 25 per cent rise in profits, but three bakeries set to close as part of £100m restructuring March 1, 2016 Greggs' share price leapt by more than 14 per cent this morning after the bakery chain announced better-than-expected full-year profits and a £100m investment plan to overhaul its manufacturing operations. The FTSE 250 company, which has around 1,700 stores in the UK, plans to cut three bakeries in Twickenham, Edinburgh and Sleaford as part of the five-year plan and use the [...]
Eurozone manufacturing growth drops to year-low – Markit PMI March 1, 2016 An indicator of manufacturing growth in the Eurozone hit a year-low in February, according to figures released this morning. Markit's manufacturing purchasing managers' index (PMI) dipped to a score of 51.2 from January's 52.3. While it is above the 50 no-growth mark, it suggests growth slowed from January. Production, new orders, new export business and hiring all lost momentum. [...]
Eurozone January unemployment falls to lowest level since August 2011 March 1, 2016 Eurozone unemployment fell for the third month in a row in January, slipping to its lowest level since August 2011. Data released today by Eurostat showed the single currency area's unemployment rate fell to 10.3 per cent in January from 10.4 per cent a month earlier. This beat economists' expectations, with the majority expecting it [...]
UK manufacturing growth slumps to lowest pace since 2013 – Markit PMI March 1, 2016 A gauge of the manufacturing sector's growth dropped to a 34-month low this morning. Markit's manufacturing purchasing managers' index – compiled from a survey of businesses – fell to a score of 50.8 for February. It is only slightly above the 50 mark that implies there was no growth on the previous month. Output growth eased sharply while the [...]
Tullett Prebon share price rises as its profits spike on oil price volatility March 1, 2016 Tullett Prebon's shares rose 0.6 per cent to 350.6p this afternoon, after oil proved to be black gold for the broker. The figures: Tullett Prebon's revenue increased 13 per cent to £796.0m in the year ended December 31st, from £703.5m in 2014. Energy sector revenue swelled 102 per cent to 204.3m during this period, helping to offset falls in treasury [...]