Bulls in control after dovish Fed as attention shifts to Bank of England today March 18, 2021 European stock markets had a dull session yesterday as traders played it safe ahead of the closely-watched Fed update. Rates were kept on hold, meeting forecasts. The economy is now projected to grow by 6.5 per cent in 2021, up from the 4.2 per cent forecast issued three months ago. David Madden, market analyst at [...]
Will rising commodity prices prompt a shift for equity investors? March 16, 2021 A number of different factors are coming together to support rising commodity prices. Such price rises could have a profound effect on the type of companies equity investors want to own. After years of being out of favour, suddenly commodity-related stocks – which are often found at the value end of the spectrum – may [...]
Mark Carney comes out against proposed coal mine in Cumbria March 16, 2021 The former head of the Bank of England Mark Carney has come out against the planned coal mine in Cumbria because it risks derailing progress on climate change. Last week the local government secretary Robert Jenrick announced an investigation into the mine after “further developments” which reportedly included a report from the independent committee on [...]
BoE: ‘No interest’ in lowering capital requirements for insurers post-Brexit March 16, 2021 The review into Britain’s financial rules post-Brexit will not lead to any “radical departure” or a reduction in capital requirements, the Bank of England (BoE) said today. Brexit has prompted the government to look at insurance capital rules inherited from the EU, with hopes it could lead to fewer requirements. The bank’s Deputy Governor Sam [...]
FTSE 100 closes in the red as Astrazeneca doubts weigh on index March 15, 2021 The FTSE 100 closed in the red this afternoon as growing doubt over the efficacy of the Astrazeneca vaccine weighed on hopes for a swift economic recovery from the pandemic across Europe.
Pandemic essentials: Hand gel, dumbbells and loungewear enjoy consumer boost March 15, 2021 Hand gel, dumbbells and men’s loungewear bottoms are among the latest post-pandemic additions to Britain’s official consumer price index this month, the Office for National Statistics (ONS) said today. Consumer habits have transformed throughout the pandemic, reflected in data from ONS which has, unsurprisingly, revealed a rise in casual clothing, home exercise equipment and travel-sized [...]
Exclusive: Business owners on how the recovery is playing out on the ground March 15, 2021 This morning it was announced that the rapid rollout of Covid-19 vaccines has led to business confidence hitting its highest levels in three years. According to IHS Markit’s global business outlook survey, business confidence now stands at +32 per cent, up from +26 per cent in October. The increase has been driven by the success [...]
City A.M. TV: Daily Market Snapshot (video) March 15, 2021 Markets globally pushed higher last week. In many instances the gains were pretty marked. The key US S&P500 index was up over 3 per cent on the week; the NASDAQ, which has been the centre of weakness in much of 2021, was up over 5 per cent; while the US mid-caps rallied aggressively (+7 per [...]
BoE’s Bailey apologises to investors amid criticism over LCF collapse March 15, 2021 Bank of England governor Andrew Bailey has apologised for his role in failing investors of collapsed mini-bond firm London Capital & Finance. His apology came amid rising pressure about his responsibility in a series of scandals during his role as head of the Financial Conduct Authority. On Monday morning, Bailey told BBC Radio 4 that [...]
BoE boss Bailey expects a permanent shift to ‘hybrid working’ March 15, 2021 Bank of England governor Andrew Bailey today said that he expects working from home to stay, with a ‘hybrid’ model of home and workplace set to become the norm. Bailey told BBC Radio 4 that he predicts a permanent change as habits and practices are proved to be sustainable. “I would be very surprised if [...]