UK unemployment data: Five key facts as furlough stems job losses June 16, 2020 New figures released today showed that the UK’s unemployment rate unexpectedly remained flat for the three months to April, confounding expectations of a sharp rise. But economists are warning that a bleak picture lurks behind that headline figure as the impact of coronavirus on the British labour market begins to show. City A.M. has broken [...]
Beijing tightens controls amid ‘extremely severe’ second wave fears June 16, 2020 The Chinese capital of Beijing has put neighbourhoods under lockdown and upped testing in a bid to stop clusters of new coronavirus infection developing into a second wave. Parts of Beijing were fenced off last night, with security checkpoints set up to prevent people from leaving the city as more than 100 new cases were [...]
London Stock Exchange celebrates AIM’s 25th anniversary June 16, 2020 The London Stock Exchange (LSE) will this week celebrate the 25th anniversary of AIM, its sub-market for smaller and growing companies. Since its launch in 1995 over 3,800 companies have been admitted to AIM, raising a combined £118bn in equity capital, according to new research by audit firm Grant Thornton. In 2019, AIM-listed companies contributed [...]
Watch out for too much money — and the return of boom and bust cycles June 15, 2020 Money is growing at record rates in peace time the US, at least by modern standards. The quantity of money in the US (as measured by M3) rose by 7.5 per cent in April 2020. With further strong money growth in May, the annual rate of growth of money has shot up to a shocking [...]
US stocks and FTSE 100 tumble as fears of second wave intensify June 15, 2020 The FTSE 100 faltered in afternoon trading, while US stocks sunk into the red as traders remained wary of a second spike in coronavirus infections. London’s blue-chip index opened down 2.05 per cent to 5,980 points, even as retailers began to open their doors for the first time in three months. US stocks dropped sharply [...]
Johanna Kyrklund: Is retail investor surge cause for caution? June 15, 2020 | City Talk With a combination of resurgent markets, seemingly ebullient retail investors and a bleak economic outlook, it may be prudent to tread carefully. It’s an old investment cliché that when your taxi driver starts giving you share tips, it’s time to sell. As someone who has been on the receiving end of cabbie investment advice during [...]
German economy to contract more sharply in second quarter than first, warns ministry June 15, 2020 The German economy will contract more in the second quarter than in the first, the country’s economic ministry said, warning that the recovery in the second half of 2020 would be sluggish. Europe’s largest economy went into lockdown in March, with many shops closing and factories halting production in a bid to limit the spread [...]
In volatile markets, big ideas are great; practical data is better June 15, 2020 | Sponsored As a trader starting out, at times the advice one reads can feel long on pithy maxims and short on useful advice. The coronavirus has spawned no dearth of “buy low, sell high” blog pieces offering well-intended tips that are ultimately too broad to be of much use. A quick Google search can tell you [...]
Chinese industrial production picks up but consumers remain cautious June 15, 2020 Chinese industrial production rose for a second straight month in May as factories began to recover from the coronavirus hit, but the weaker-than-expected gain suggested that the country’s recovery remained fragile. Data released by China’s National Bureau of Statistics also showed sustained contraction in retail sales and investment, showing the continued pressure Covid-19 is placing [...]
Asian stocks, oil prices fall as second wave fears grow June 15, 2020 Asian stocks stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens. Meanwhile, underwhelming data from China further weighed on investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent with Australian shares off 0.1% and South [...]