Do bear markets herald a recession? June 23, 2022 | City Talk We look back over more than 100 years of data to ask what this week’s severe market moves might signal for the economy. After hitting an all-time high at the start of the year, the S&P 500 has plunged into bear territory this week. As a rule of thumb, the so-called bear market is when [...]
UK economy spiralling toward ‘troubling’ recession and even higher inflation June 23, 2022 The UK economy is hurtling towards a “troubling” slump that will see it tip into recession and suffer from rampant inflation, reveals a closely watched survey published today. Consumers are responding to the worst cost of living crunch in a generation by cooling spending, while businesses are grappling with flatlining demand, according to S&P Global’s [...]
Stylish Stocks: Calvin and Tommy lead the way among best-performing fashion brands June 23, 2022 Even though people often associate the financial world with black suits, statistics, and little in the way of style, trading does have its fashionable side. Specifically, fashion stocks. From high-end brands such as Christian Dior and Ralph Lauren to high-street labels like Gap and Zara, retail shares are firmly on investors’ radar recently. Only yesterday, [...]
Inflation bump sends chill through London’s FTSE 100 June 22, 2022 London’s top indexes slumped today as investors fretted over the damage further inflation surges could deal the UK economy. The capital’s premier FTSE 100 index slid 0.88 per cent to 7,089.22 points, while the domestically-focused, mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.31 per cent to [...]
US Fed chief Powell warns higher rates may tip economy into recession June 22, 2022 The chief of the US Federal Reserve has warned it may hike interest rates to a level that tips the economy into a recession. “It’s certainly a possibility” that a rapid tightening of monetary policy will force the US economy into reverse, Fed chair Jerome Powell said today in response to a grilling by American [...]
UK factories hit by fastest cost rise since 1980s June 22, 2022 The price of materials used by UK factories are rising at the fastest pace on record in a sign that consumers could soon be spiked by a further inflation surge, fresh figures published today reveal. Input prices soared just over 22 per cent over the year to May, the fastest acceleration since the Office for [...]
Brexit has damaged UK’s competitiveness, reduced productivity and lowered Brits’ real wages, LSE says June 22, 2022 A new bombshell study said this morning that Brexit has damaged Britain’s competitiveness, reducing productivity and lowering workers’ real wages in the years ahead. The report said Britain has experienced a decline of 8 per cent in trade openness – trade as a share of economic output – since 2019, losing market share across three [...]
UK inflation highest in G7, dialling up pressure on Bank of England to raise rates again June 22, 2022 The likelihood of the Bank of England hiking interest rates for the sixth time in a row is ramping up after new figures revealed the UK has the highest inflation in the G7. Prices climbed 9.1 per cent annually in May, up from April’s already four decade high rate of nine per cent, according to [...]
Government mulled use of national security laws to force Arm London listing June 22, 2022 Ministers mulled the use of national security laws to push Japanese investment giant Softbank into floating chip manufacturer Arm into a London listing, according to reports.
1 Minute Market Rundown – 22nd June 2022 June 22, 2022 | City Talk Powell in Focus Later TodayUK Inflation Prints as Expected But Still Very HighJPY Hits 24 Year Lows Risk did rally yesterday as suspected with the S&P posting a 2% gain over the day. Correspondingly, the USD sold off against both the EUR and GBP. Something to note is that the USD did not back off [...]