UK PMI: Construction sector shows signs of life after election February 4, 2020 Output in the UK’s construction sector in January fell at its slowest pace since May of last year, survey data has shown, in a sign of green shoots for Britain’s builders amid lower political uncertainty. The IHS Markit/Cips gauge of construction output rose to 48.4 in January from 44.4 in December. The reading was still [...]
Asian stocks recover ground even as coronavirus spreads February 4, 2020 Asian stocks bounced overnight despite Hong Kong reporting its first death from coronavirus. The virus – which originated in Wuhan, China – had claimed 425 lives as of yesterday, from 20,400 cases. China’s Shanghai stock index climbed 1.3 per cent overnight after plunging 7.9 per cent yesterday, a fall which wiped around $400bn (£309bn) off [...]
Boris Johnson says Brexit deal must be ‘predictable’ for the City February 3, 2020 Prime Minister Boris Johnson has sought to reassure the City about a post-Brexit trade deal with the European Union, saying it should provide a “predictable, transparent and business-friendly” environment for financial services firms. In a written statement to parliament, the PM also said there should be “obligations on market access and fair competition”. The statement [...]
US manufacturing sector rebounds amid lower trade tensions February 3, 2020 The US manufacturing sector rebounded in January after shrinking for five straight months, survey data showed today, in a sign that the country’s factories are set for a better year than they had in 2019. The Institute for Supply Management’s (ISM) factory gauge rose to 50.9 last month, its highest point since July, up from [...]
Boris Johnson: UK doesn’t need EU rules for Brexit trade deal February 3, 2020 Prime Minister Boris Johnson has said the UK will not accept EU rules as part of a post-Brexit trade deal, but said Britain is not going to engage in a “cut-throat race to the bottom” standards. In a heavily trailed speech in London, the PM said: “There is no need for a free trade agreement [...]
UK PMI: Manufacturing sector hits nine-month high February 3, 2020 The UK manufacturing sector had its best performance in nine months in January, halting a long-running decline that began in May of last year, survey data has shown. The IHS Markit/Cips manufacturing purchasing managers index (PMI) rose to 50 in January as new orders and business confidence recovered. The score was well above December’s reading [...]
FTSE 100 opens higher despite market chaos in China February 3, 2020 The FTSE 100 and other European stock markets have opened slightly higher, despite China’s Shanghai index plunging almost eight per cent over the coronavirus outbreak. The UK’s blue-chip index had climbed 0.3 per cent by 8.30am, Germany’s Dax was also 0.3 per cent higher, while France’s CAC 40 had risen 0.2 per cent. Europe’s gains [...]
Chinese stocks plunge as coronavirus fears rattle markets February 3, 2020 Chinese stocks have plunged in the first day’s trading since the Lunar New Year holiday, suffering their worst opening since the financial crisis in 2007 amid growing fears about the effects of coronavirus on the economy. China’s CSI 300 index of Shanghai and Shenzhen-listed stocks had fallen 7.9 per cent by 7.15am UK time, having [...]
Imperial Brands picks Stefan Bomhard as new chief executive February 3, 2020 UK tobacco firm Imperial Brands has named Stefan Bomhard, the boss of car dealership Inchcape, as its new chief executive. Bomhard will replace Alison Cooper, whose departure was announced in October and who today stepped down with immediate effect. The new chief executive’s main task will be to boost profits following weak full-year results amid [...]
FTSE 100 stumbles as coronavirus spreads to the UK January 31, 2020 Britain’s FTSE 100 has fallen sharply after two people tested positive for coronavirus in the UK and the pound rose following the Bank of England’s decision to hold interest rates yesterday. England’s chief medical officer said the two people were being treated at a specialist centre in Newcastle after falling ill in York. Professor Chris [...]
