UK GDP: How City analysts reacted to the record economic slump February 12, 2021 The City was hit with some sobering figures this morning, as the latest official data showed UK GDP suffered its largest annual fall on record. The economy shrank 9.9 per cent in 2020 as a result of the Covid-19 pandemic, but narrowly avoided a double-dip recession with growth of one per cent in the final [...]
What to expect from the financial markets in 2021? February 12, 2021 | Sponsored Among the many twists and turns of 2020, the behaviour of the financial markets stands out as particularly fascinating and bewildering. The discrepancy observed between the state of the underlying economy and the performance of stocks and other investment assets surprised even the more seasoned observer, as the underlying economy struggled through an unparalleled peace-time [...]
Before the Bell: Firm focus on UK GDP numbers this morning February 12, 2021 It was another uneventful day in the markets yesterday as fresh news stories were thin on the ground. The same old headlines about vaccines being distributed and optimism with respect to President Biden getting his $1.9 trillion stimulus plan approved in the next few weeks continued to be the main focus of traders’ attention. Both [...]
UK GDP suffers largest contraction on record in 2020 February 12, 2021 UK gross domestic product (GDP) contracted 9.9 per cent last year, marking the largest annual fall on record. Data from the Office for National Statistics showed UK GDP grew one per cent in the fourth quarter of the year due to recovery in government consumption and business investment as Covid restrictions eased. That followed 16.1 [...]
EU faces surge in bankruptcies as states start to withdraw pandemic support February 11, 2021 A leaked document from the European Union has revealed that a spike in bankruptcies and bad loans awaits the European Commission during the bloc’s post-pandemic economic recovery, as states begin to withdraw public support schemes. The note, seen by Reuters, said that it has taken nearly €2.3 trillion in national liquidity support to prevent a [...]
Shell says peak oil has passed as firm sets course for net zero by 2050 February 11, 2021 Oil giant Shell today declared that it had already passed peak oil production as it announced more stringent plans to eliminate carbon emissions by 2050. At its strategy day this morning, the Anglo-Dutch firm said that its oil production had reached its zenith in 2019, and would fall 1-2.0 per cent every year. It also [...]
Before the Bell: Quiet start expected for Europe, dealers eye US jobs data February 11, 2021 Stock markets in Europe posted modest losses yesterday as a drop off in confidence towards the end of the session more than wiped out the gains that were registered earlier. For most of the day, equity benchmarks were in positive territory, upbeat sentiment circulated as it was believed the Biden administration will sign off on [...]
Federal Reserve chair calls for national drive to full employment February 10, 2021 Invoking post-World War II efforts to reach full employment and pledging continued loose monetary policy to help the process, Federal Reserve Chair Jerome Powell made a broad call Wednesday for a “society-wide commitment” to get Americans back to work, particularly minorities and those ousted from lower-paying jobs during the pandemic. “Given the number of people who have [...]
Tickr: We don’t want to be a socks and sandals, preachy investment platform February 10, 2021 Everyone has something to say about ESG or “impact” investing these days. It has become the go-to buzzword for corporate firms and investment platforms. But unlike platforms that have added socially responsible features, London-based Tickr launched with a sole purpose of “impact investing”. Founded in 2018, Tickr aims to demystify sustainable investing and only offers [...]
FTSE 100 bounds ahead despite housebuilders taking a tax hit while US stocks soar February 10, 2021 FTSE 100 bounds ahead despite housebuilders taking a tax hit