1 Minute Market Rundown – 19th May 2022 May 19, 2022 | City Talk Trade the ExtremesUSD on the Front Foot AgainCrypto Slides We won’t lie…yesterday caught us rather off guard. Risk, for lack of a better word, capitulated. US shares plunged 4%, their biggest daily drop in almost 2 years. Earnings reports from US consumer titans (Walmart, Costco, Target) disappointed and fuelled concerns that high inflation is squeezing [...]
Fintech and the accountancy profession May 19, 2022 The union of finance and technology as fintech has become pervasive, transforming how financial services are delivered and consumed. It’s a thriving sector with many diverse parts such as online-only or neobanks, peer-to-peer lending, payment gateways / application programming interfaces (APIs), investment banking back-end infrastructure, insurtech, wealthtech and regtech. And that’s before considering some frontier [...]
40-year high inflation hits FTSE 100 and drags down pound May 18, 2022 City traders were today jolted by fresh figures revealing UK inflation is running at its highest level since the 1980s. The capital’s premier FTSE 100 index closed 1.07 per cent lower at 7,438.09 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.58 per [...]
The TMT M&A game change: Are dealmakers ready to play? May 18, 2022 | City Talk A few months into 2022, and mergers and acquisitions (M&A) activity in the technology, media, and telecommunications (TMT) sector is already setting the tone for an interesting year ahead, with some organizations making bold moves into the new and next. This is after a banner 2021 where the sector topped the tables in both value [...]
British factories’ costs climb at record pace in sign of even higher consumer prices to come May 18, 2022 Prices for materials used by British factories are rising at the quickest pace on record in a sign firms may be pushed to keep passing on costs to consumers, official figures published today revealed. The cost of buying components such as fuels used for the day to day running of manufacturing firms jumped 18.6 per [...]
Bank of England to launch brisk rate hike cycle to tame 40-year high inflation May 18, 2022 The Bank of England will have to launch a cycle of steeper and quicker rate hikes to tame the steepest rise in living costs in four decades, according to City economists. The case for front-loading rate rises is strengthening after new figures published this morning by the Office for National Statistics (ONS) revealed inflation climbed [...]
Brexit: Government finds UK unity more important than potential trade war with EU, says minister May 18, 2022 The Northern Ireland Minister said this morning that the unity of the country outweighs the potential impact of a trade war with the EU. Conor Burns said he expects to reach a compromise with the EU, though legislation would be brought before Parliament regardless. On the threat of a trade war with the EU, he [...]
1 Minute Market Rundown – 18th May 2022 May 18, 2022 | City Talk Trade the ExtremesUSD Gives Up Some of its GainsCrypto Consolidates There is not too much to add from yesterday’s piece sadly. The main talking point was Powell reiterating the FED’s stance on inflation. Powell said the FED won’t hesitate to tighten policy beyond neutral to curb inflation. Stock’s stalled their recent rise and the USD [...]
UK inflation hits 9 per cent: 40-year high as country wrestles cost of living crisis May 18, 2022 UK inflation has hit 9 per cent, a 40-year high, as the country wrestles with a cost-of-living crisis. Top economists have pegged inflationary headwinds to hit double figures by the end of the year, as food, energy and other household services and goods spiral in cost. Food products and metals have seen the largest leaps [...]
Investors look through inflation headwinds to focus on strong earnings May 17, 2022 Investors dismissed concerns over inflationary pressures firming in the UK economy and focused on a string of positive company earnings, lifting London’s indexes today. The capital’s premier FTSE 100 index climbed 0.72 per cent to 7,518.35 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]