Decline eases in US services sector but economy stays in rut June 3, 2020 The decline in the US services sector eased somewhat in May, survey data has shown, but the dominant part of the economy remained stuck in a downturn. The closely watched purchasing managers’ index (PMI) gauge from the Institute for Supply Management (ISM) came in at 45.4 in May. That compared to the sharp plunge to [...]
FTSE 100: Travel stocks surge as Europe reopens borders June 3, 2020 The FTSE 100 jumped in morning trading with airlines surging as Europe reopened some of its borders after coronavirus lockdowns. London’s index of the 100 biggest UK companies rose 1.5 per cent to 6,310 points, putting it close to a three-month high. The rise was powered by countries across Europe reopening or planning to reopen [...]
UK services sector gauge picks up but economic gloom continues June 3, 2020 A closely watched gauge of the UK services sector picked up in May, although the dominant section of the economy remained severely depressed as coronavirus restrictions were largely held in place. The IHS Markit/Cips services purchasing managers’ index (PMI) came in at 29 in May, up from the record low of 13.4 in April. Today’s [...]
Eurozone’s economic crash eases in May but area remains depressed June 3, 2020 The Eurozone’s private sector showed some tentative signs of recovery but still remained mired in a deep downturn in May, survey data has shown. The IHS Markit composite purchasing managers’ index (PMI), a closely watched guide to the economy’s health, rose to 31.9 in May from a record low of 13.6 in April. May’s reading [...]
Mass US protests over George Floyd killing rage for eighth straight day June 3, 2020 Large-scale protests continued for the eighth straight day in the US yesterday, with peaceful demonstrators defying curfews and some areas seeing the return of violence as the country was rocked by the police killing of black man George Floyd. In Washington DC, more than 1,000 protestors remained outside near the White House past the 7pm [...]
Asian stocks hit three-month high as China’s services sector grows June 3, 2020 Asian stock markets rose for the third straight session as investors cheered countries’ moves to reopen their economies and China’s services sector returned to growth. Japan’s Nikkei 225 climbed 1.2 per cent while Hong Kong’s Hang Seng moved 1.2 per cent higher. China’s CSI 300 index rose 0.5 per cent as Asian stock markets approached [...]
FTSE 100 rises as countries emerge from coronavirus lockdowns June 2, 2020 The FTSE 100 and global stocks have risen for the second day this week as investors cheer the reopening of economies around the world. London’s blue-chip index was up 0.9 per cent in early-afternoon trading at 6,220. It rose 1.4 per cent yesterday after US President Donald Trump stopped short of reigniting his trade war [...]
UK coronavirus loans top £31bn but just half of CBILs approved June 2, 2020 UK businesses have borrowed £31bn from banks through the government’s coronavirus loan scheme, but the approval rate on its flagship CBILs programme is still languishing at around 50 per cent. Figures released today showed that the three main coronavirus loan schemes have helped firms access £31.3bn. The bulk has been through the “bounce-back” loan scheme, [...]
UK mortgage approvals plunge to record low during lockdown June 2, 2020 UK household borrowing dried up at a record rate in April and mortgage approvals plunged to their lowest since 1993 as consumers drew in their horns while the economy was ravaged by coronavirus. Instead of borrowing, households repaid their debts at a record pace. They returned £7.4bn to banks in the largest net repayment since [...]
UK house prices tumble at fastest rate since 2009 amid coronavirus June 2, 2020 UK house prices dropped at the fastest rate since the financial crisis in February 2009 last month, figures have shown, as the coronavirus pandemic brought the property market to a standstill. House prices tumbled by 1.7 per cent in May compared to growth of 0.9 per cent a month earlier, according to the closely watched [...]
