Markets live: FTSE 100 and US stocks soar as vaccine optimism builds July 15, 2020 The FTSE 100 doubled its gains on Wednesday as investor optimism about a coronavirus vaccine grew stronger, also fuelling US and European stocks. London’s blue-chip index climbed as high as 6,241 as it opened trading this morning, following positive trial results of a Moderna vaccine. By 1.30pm the FTSE 100 was up 2.07 per cent [...]
‘Incomplete’ V-shaped economic recovery likely, says Bank policymaker July 15, 2020 The UK economy is likely to go through an “interrupted or incomplete” V-shaped recovery as unemployment and social distancing weigh on growth, a Bank of England rate-setter has said. BoE monetary policy committee (MPC) member Silvana Tenreyro said the UK economy’s recovery will depend on coronavirus cases being brought under control domestically and around the [...]
UK inflation beats expectations but stays well below Bank target July 15, 2020 UK inflation increased for the first time this year in June as non-essential shops reopened from coronavirus lockdown, official figures have shown, although it was still well below the Bank of England’s target. UK inflation as measured by the consumer price index came in at 0.6 per cent in June, the Office for National Statistics [...]
Has the dream of a ‘V-shaped’ economic recovery died? July 14, 2020 Much has been made of whether or not the UK is going to see a ‘V-shaped’ economic recovery from coronavirus. That is, a sharp fall in output followed by an almost equally quick rebound. Those hoping for such a sharp bounce-back appeared to have been dealt a harsh blow today when official figures showed the [...]
FTSE 100 drops amid rising coronavirus cases and slow growth July 14, 2020 The FTSE 100 fell and US stocks were mixed as rising coronavirus cases around the world and the start of earnings season gave investors the jitters. London’s main stock index was 0.3 per cent lower in afternoon trading at 6,158 points. The FTSE 250 index of slightly smaller companies had fallen 1.4 per cent. Read [...]
UK economy grows by much less than expected after April crash July 14, 2020 The UK economy grew at a much slower rate than expected in May after April’s historic crash, official figures have shown, in a sign that the recovery could be weaker than anticipated. UK GDP expanded by 1.8 per cent in May, the Office for National Statistics (ONS) said, after shrinking by an enormous 20.3 per [...]
OBR: Public borrowing set to top £370bn amid worst crash in 300 years July 14, 2020 Government borrowing could skyrocket to a peacetime high of over £370bn this year as the UK economy suffers its worst economic crash in 300 years, the UK’s budget watchdog has said. The Office for Budget Responsibility (OBR) presented three scenarios, each of which said the UK economy would shrink more than 10 per cent in 2020. [...]
Bank of England’s Andrew Bailey says he’s ‘very worried about jobs’ July 13, 2020 Bank of England governor Andrew Bailey has said the UK economy is showing signs of recovery from the coronavirus crash but he remains worried about unemployment. “We are seeing the economy come back now somewhat, because obviously the restrictions are beginning to be lifted,” he told schoolchildren today at an event organised by Speakers for [...]
The FTSE 100 is lagging behind soaring global markets – but why? July 13, 2020 Stock markets around the world have soared in recent months even as economies crashed, aided by central banks pumping trillions of dollars into the system. But although all stock markets are rising, some are rising faster than others. Britain’s FTSE 100 is lagging behind almost all other major stock indices. It has risen just over [...]
G4S shares surge as it revises up earnings forecast July 13, 2020 Shares in security firm G4S have jumped nine per cent after it said a strong June has “significantly” boosted first-half earnings. In a short update, the international company said its “underlying earnings for the first six months of 2020 will be significantly above market consensus”. G4S put this down to “a resilient trading performance during [...]
