FTSE 100 shrugs off real estate stocks boost November 18, 2021 London markets were a mixed bag during opening exchanges today despite a rally among real estate stocks providing bright spots on the FTSE 100. The capital’s premier index fell 0.19 per cent to 7,276.99 points, while the mid-cap FTSE 250 climbed 0.22 per cent to 23,487.07 per cent. A rally among real estate stocks was [...]
Treasury needs to play nice with regulators to make a success of post-Brexit rules November 18, 2021 Uncertainty is a killer for businesses. Too bad it is everywhere you look. Unknown unknowns are impossible to root out, but firms have developed coping strategies to allow them to live in a deeply fragile world. The underlying factors that triggered the financial crisis were unknown unknowns to (almost) everyone, even if they seem obvious [...]
Swelling energy bills propel inflation to 4.2 per cent, more than double Bank of England’s target November 17, 2021 Swelling household energy bills have propelled inflation to more than double the Bank of England’s target, dialling up pressure on the Old Lady to act to hose down red-hot price rises. Inflation scaled to 4.2 per cent in October, up sharply from 3.1 per cent in the previous month, according to the Office for National [...]
Barclays faces top investor backlash over Staley exit package November 17, 2021 Barclays is facing a backlash from top shareholders over former chief Jes Staley’s exit package. Investors have voiced their distaste privately at the £2.4m in pay given to Staley after he quit his role as chief executive of the British bank to contest the findings of a probe into whether he inaccurately described his relationship [...]
UK factory prices climb at fastest pace in over a decade November 17, 2021 British manufacturers are hiking prices at the fastest rate in over a decade to offset a margin assault from soaring oil prices. Prices charged at the factory gate are eight per cent higher than they were a year ago, the highest rate of inflation since September 2011, according to the Office for National Statistics (ONS). [...]
London markets struggle for direction as investors mull near decade high inflation print November 17, 2021 London markets struggled for direction this morning as investors mulled the possible fallout of UK inflation reaching its highest level in nearly a decade. The capital’s premier FTSE 100 index edged down 0.06 per cent to 7,322.28 points, while the mid-cap FTSE 250 list of shares rose 0.06 per cent to 23,556.06 points. Swelling household [...]
Pound strengthens against dollar on mounting Bank of England rate hike bets as inflation heats up November 17, 2021 The pound strengthened sharply against the dollar amid growing speculation the Bank of England will hike interest rates due to inflation soaring to more than double its target. Fresh data published this morning by the Office for National Statistics (ONS) shows inflation scaled to 4.2 per cent in October, causing investors to pour into sterling. [...]
City watchdog gives banks reprieve on LIBOR contracts November 16, 2021 The City watchdog will allow banks and other financial institutions to use a watered down version of a much-lamented interest rate benchmark for existing contracts. Banks will be able to apply the LIBOR benchmark on existing pound and yen denominated contracts which have not been restructured on to a new rate until the end of [...]
Mounting Bank of England rate hike speculation weighs on London markets November 16, 2021 Mounting speculation that strong jobs figures will coax the Bank of England into hiking interest rates next month weighed on London markets this morning. The capital’s FTSE 100 index pulled back 0.16 per cent to 7,340.28 points, while the mid-cap FTSE 250 lost 0.10 per cent to dip to 23,598.73 points. Experts are stepping up [...]
City bets on Bank of England rate hike ramp up again after strong jobs figures November 16, 2021 City bets on the Bank of England hiking interest rates soon are ramping up once again after fresh jobless data showed the worst effects of the end of the furlough scheme have been largely avoided. The Old Lady will turn the dial at its next meeting in December due to the labour market looking less [...]