FTSE lurches towards worst month since August May 30, 2012 The FTSE 100 dipped this morning as the Eurozone’s debt woes continued to cast a shadow and hopes that China would trigger further fiscal stimulus were dealt a blow. Investors are awaiting the European Commission’s economic strategy on how austerity measures can be introduced without quashing the growth required for recovery. Concerns about Spain’s ability [...]
Mortgage approvals rise May 30, 2012 UK mortgage approvals for house purchase and mortgage lending were at their highest since January last month, but Britons repaid their credit card bills at the fastest rate in more than five years, Bank data showed on Wednesday. The central bank said mortgage approvals numbered 51,823 in April, up from 51,067 in March. Analysts had [...]
LONDON WEEK AHEAD May 20, 2012 GIVEN property developer British Land’s significant presence in the City, its full-year results will be closely watched this morning for signs of how the Eurozone crisis is hitting the company’s retail lettings. Budget airline Ryanair will also release its full-year results, as will outsourcing group Mitie. The spotlight will turn to the UK high street [...]
Business lending data points to a continued squeeze on credit May 2, 2012 BANK lending to businesses dropped again in March, official data showed yesterday, raising further criticism that the government is failing in its stated aim to improve credit conditions. Borrowing by firms fell £3.2bn in the month, the Bank of England revealed, following drops of £4.2bn in February and £3.6bn in January. That means bank lending [...]
Mortgage approvals rise in March May 2, 2012 Mortgage approvals for home loans in Britain rose unexpectedly in March, suggesting the housing market continued to recover despite the end of a tax exemption for first-time buyers, Bank of England data showed. The bank said mortgage approvals climbed to 49,860 in March from 49,029 in February, confounding analysts’ forecasts for a fall to 48,000. [...]
London leads jump in house prices as prime properties soar April 26, 2012 ASKING prices rose across the country at the start of 2012, new data revealed yesterday, with prices in London soaring and sales of multi-million pound homes rising. Asking prices rose an average of £3,104 or 1.8 per cent in the first quarter, hitting £221,387 according to findaproperty.com. London experienced the biggest rise, at 5.4 per [...]
Redrow to raise £80m to help fund expansion April 24, 2012 SHARES in housebuilder Redrow rose by almost eight per cent yesterday after it said it would raise about £80m to increase investment in London and outside the capital, in a move that could raise the stake of its executive chairman to above 40 per cent. The company, one of the smaller London-listed housebuilders, said it [...]
BlackRock plans bond hub April 12, 2012 AMERICAN investment banks face a new threat to their profits as BlackRock plans to launch a trading platform that would cut out Wall Street. The world’s largest money manager has devised a platform which would allow it to trade bonds directly with the rest of its industry. The electronic trading hub would be run by [...]
End of relief on stamp duty hits UK house prices March 29, 2012 HOUSE prices fell sharply in March, data from Nationwide showed yesterday, as the stamp duty holiday for first-time buyers came to an end. Lending figures from the Bank of England also showed mortgage approvals plunged in February, suggesting the market has slowed further. Prices fell one per cent in March, the first decline in six [...]
House prices in biggest monthly fall for two years March 29, 2012 House prices suffered their sharpest monthly fall in more than two years in March, as first-time homebuyers braced for the removal of stamp duty exemption, mortgage lender Nationwide said. Nationwide reported one per cent seasonally adjusted fall in house prices on the month, the biggest since February 2010, and a sharp contrast to the 0.3 [...]