By: Jake Cordell

I'm City A.M.'s economics reporter, looking at the news, stories and data that move markets in the UK, Europe and around the globe. I also cover broader developments in the business and political worlds at home and abroad.

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Strong results for Greggs as it brushes off the crumbs of Brexit to carry on cooking

August 2, 2016

Profits were flat at pasty-flogger Greggs, in the first half of the year as the baker said it hoped to avoid being hit by weaker consumer spending following the EU referendum. The figures Profits before tax at the FTSE 250 high street fast-food outlet were down just shy of one per cent to £25.3m on the back of strong sales [...]
Brexit boost for lawyers and compliance experts as hiring jumps in June

August 1, 2016

Legal-lovers and HR-hot shots are the latest winners from the UK's decision to breakaway from the European Union, a new survey of professional employment has found. While various indicators of hiring-and-firing following the referendum have shown that unemployment is unlikely to surge over the following months, it is those with a Brexit-specific set of skills that [...]
There is a 98 per cent chance the Bank of England will cut interest rates

August 1, 2016

The Bank of England is almost certain to slash interest rates when its rate-setting monetary policy committee (MPC) meets for the second time since the EU referendum this week. Futures markets indicate there is a 98.1 per cent probability the MPC will cut rates to a new record-low of 0.25 per cent, slightly up on [...]
India’s largest mortgage lender issues world’s first “Masala bond” in London

August 1, 2016

The world's first ever "masala" bond has been issued in London today, in what chancellor Philip Hammond described as a major win for the UK economy in the aftermath of the EU referendum. India's largest mortgage provider, Housing Development Finance Corporation (HDFC), became the first Indian company to list corporate rupee-denominated debt outside of India, with the [...]
Trading in Unicredit shares suspended as investors digest bank stress tests

August 1, 2016

Shares in Italian bank Unicredit were suspended from trading this morning as the lender plunged by eight per cent following the publication of stress test results on Friday evening. Its counterpart Monte dei Paschi, which came bottom of the results but managed to secure new terms on a potential bailout, climbed four per cent in the [...]
Manufacturing stutters forward in the Eurozone as PMI dips slightly

August 1, 2016

Factories in the Eurozone entered the summer with a slight wobble, as output dipped and fundamental weaknesses in the manufacturing sector appeared stubborn. The purchasing managers' index (PMI) for manufacturing across the single currency bloc slipped to 52 in June, down from 52.8 in July, on a reading where scores above 50 mark expansion. It [...]
UK manufacturing PMI sinks even lower after EU referendum

August 1, 2016

The most up-to-date measure of economic output among UK manufacturers has slumped to its lowest level in more than three years following the EU referendum. The manufacturing purchasing managers' index (PMI), which is closely watched by policymakers at the Bank of England, dropped to 48.2 in July, from 52.4 in June. That was even lower than a [...]
Fresh delay for US rate hike on weak growth figures

August 1, 2016

The prospect of a second US interest rate rise since the recession has slipped back following weak GDP data and some dovish comments from one of the Federal Reserve's key rate-setters. Futures markets now indicate the probability of a rate rise by the end of the year is less than one in three, down from around [...]
Asian shares climb on weak US and Eurozone growth figures

August 1, 2016

Asian shares climbed higher overnight everywhere except China as markets benefitted from Friday’s weak growth figures in both the US and the Eurozone. Japan’s Nikkei 225 added 0.4 per cent to hit 16,635, largely unchanged on its level before the Bank of Japan (BoJ) decided on Friday to hold back on fresh stimulus. In Hong [...]
Business shows its bounceback-ability as confidence jumps after Brexit fall

July 29, 2016

Confidence among UK firms has bounced back in July after plummeting in the immediate aftermath of the EU referendum, a leading indicator has found. The Lloyds business barometer jumped 23 points over the past four weeks to stand at 29 on an index where positive scores indicate overall optimism. In the days after the vote [...]

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By: Jake Cordell

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