FTSE 100 kicks off busy UK data week positively November 14, 2022 London’s FTSE 100 bounced higher today to kick off a hefty week of UK economic news. The capital’s premier index jumped 0.92 per cent to 7,385.17 points, while the domestically-focused mid-cap FTSE 250 index, which is aligned with the health of the UK economy, edged 0.03 per cent higher to 19,622.25 points. Investors are eyeing [...]
FTSE 100 kicked higher after encouraging US inflation figures November 10, 2022 London’s FTSE 100 today was goosed by US inflation finally showing signs it is markedly slowing down and may have even peaked. The capital’s premier index climbed 1.08 per cent to 7,375.34 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged 3.9 per cent [...]
UK economy misses out on 24 per cent growth after financial and Covid-19 crises November 10, 2022 The UK economy would be 24 per cent bigger had the global financial and Covid-19 crises not happened, a Wall Street bank has said. “A series of unfortunate events and policy choices have cut UK potential growth” over the last decade or so, Bank of America said in a note to clients. Since the financial [...]
Markets cheer US inflation slowdown as Nasdaq flies over five per cent November 10, 2022 Global markets have cheered signs that US inflation is falling much faster than experts expected, dialling down pressure on the Federal Reserve to keep hiking interest rates aggressively. Wall Street’s tech-heavy Nasdaq index flew more than five per cent, while the S&P 500 and Dow Jones shot up more than four per cent and nearly [...]
Economic gloom finally sweeps through UK jobs market November 10, 2022 UK job growth has slimmed for the first time since the 2021 Covid-19 winter lockdown, driven by employers bracing for the longest recession on record, a new survey out today unveils. For the first time since February 2021, when the country was in the late stages of the third and longest pandemic lockdown, businesses trimmed [...]
FTSE 100 plagued by string of downbeat results November 9, 2022 London’s FTSE 100 today was weighed down by investors ditching retail and leisure firms after several large players in the sector revealed they have been hit by the UK economic slowdown. The capital’s premier index edged 0.14 per cent lower to 7,296.25 points, while the domestically-focused mid-capo FTSE 250 index, which is more aligned with [...]
UK at greater risk of mortgage default wave than international counterparts November 9, 2022 The UK is at greater risk of being jolted by an uptick in mortgage defaults during the global economic slowdown, a top Wall Street bank has warned. Goldman Sachs reckons the country will undergo a bigger unemployment surge compared to other English speaking countries, dealing a heavy blow to households’ capacity to pay off home [...]
FTSE 100 dragged down by Persimmon tumbling after property market warning November 8, 2022 London’s FTSE 100 today was pulled down by house builder Persimmon tumbling after it warned rising rates will hit its bottom line. The capital’s premier index edged 0.08 per cent higher to 7,306.14 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0,75 per [...]
UK economy to emerge from recession 10 per cent smaller than pre-Covid path November 8, 2022 The UK economy will be 10 per cent smaller compared to its pre-Covid growth path after the Bank of England’s forecasted two year recession, a top Wall Street bank has warned. JP Morgan said in a note to clients Britain is on course to miss out on a large chunk of much needed economic growth [...]
Bank of England not to blame for looming record recession, chief economist stresses November 8, 2022 The Bank of England is not to blame for the UK fumbling into the longest recession since records began and rate setters are not “inflation nutters,” its chief economist said today. Huw Pill, who replaced Andy Haldane last year as Threadneedle Street’s top wonk, said the UK’s slowdown is being “driven by other forces” beyond [...]