Surging mortgage rates ‘biting harder’ on fragile housing market October 19, 2026 Rising mortgage rates are starting to “bite harder” on the UK’s fragile housing market by forcing sellers to push down asking prices. The average two-year fixed mortgage rate has risen to 5.55 per cent, up from 5.29 per cent last month and 4.25 per cent since before the war in Iran, according to homes portal [...]
As it happened: FTSE 100 surges as London swerves Asian tech sell-off; surprise GDP growth October 15, 2026 Welcome back to City AM‘s FTSE 100 live blog. Stocks are set to slip on Thursday morning despite a strong close yesterday for the UK’s blue-chip index. The ONS will reveal the rate of GDP growth for August this morning, which economists expect to reveal that the economy has shrunk. Stick with us throughout the [...]
Banks of England chief economist ‘sceptical’ of markets’ interest rate expectations October 14, 2026 The Bank of England is unlikely to vote for the four interest-rate hikes forecast by financial markets, according to its chief economist, who added the central bank should have raised rates in the early stages of the Iran war. Huw Pill, who has the most hawkish track record on the Monetary Policy Committee, played down [...]
As it happened: Stocks jump in housebuilder boost; oil edges up October 14, 2026 Welcome back to City AM‘s FTSE 100 live blog. Stocks made a shaky start on Wednesday morning following a late collapse on Tuesday afternoon, but eventually recovered to modest gains in the late morning. Housebuilders Barratt Redrow and Bellway led the way, lifting other property names like British Land and Workspace. Oil prices are rising [...]
BP braces for hit of up to $4.5bn in pivot from green energy October 13, 2026 BP is bracing for a hit of up to $4.5bn after a hefty write-down in its energy transition unit, as the firm pivots away from aggressive green targets. The FTSE 100 energy giant told markets on Tuesday its third quarter update – set for the end of the month – would include a post-tax impairment [...]
As it happened: FTSE 100 loses early gains as oil prices stay high October 13, 2026 Welcome back to City AM‘s FTSE 100 live blog. The UK’s blue-chip index made strong gains on Monday morning, jumping more than 0.9 per cent soon after the market open. This follows Tuesday’s strong showing, when the index gained nearly one per cent. In a busy morning the corporate results, Premier Inn owner Whitbread hit [...]
UK economy to suffer second-highest inflation in G7 October 13, 2026 The UK economy will suffer the second highest inflation of any G7 country over the next two years, the International Monetary Fund has warned, putting Chancellor John Healey’s efforts to ease the cost of living at risk. In its latest report published today, the global finance body has said that inflation will remain above the [...]
As it happened: FTSE 100 gains; oil rises despite Trump’s Russian diesel deal October 12, 2026 Welcome back to City AM‘s FTSE 100 live blog. The UK’s blue-chip index is set to make gains on Monday morning, picking up where Friday’s rally left off. Oil prices fell in early trading, as Brent crude – the international benchmark for oil – dipped below $104 per barrel following President Trump’s plans to import [...]
Fiscal drag to the rescue – but Healey still faces £35bn inflation headache October 12, 2026 Soaring inflation could force the Chancellor to commit to more government spending and tax hikes, posing a worse Budget headache than a narrowing fiscal headroom, a top think tank has warned. John Healey might have to top up department budgets by as much as £35bn by the end of the decade to stop the real-terms [...]
Upper Crust owner SSP warns on profit as Iran war hits tourism October 9, 2026 SSP, the owner of travel food outlets like Upper Crust, has warned it will take a hit to its profit after the Iran war caused a “significant contraction” in global tourism. The catering group, which also owns Millie’s Cookies and Caffè Ritazza, said the sharp drop in travel caused by the Middle East conflict has [...]