Bank of England’s Bailey expects ‘pronounced recovery’ for economy January 21, 2021 Bank of England Governor Andrew Bailey said yesterday he expected Britain’s economy would recover strongly as the country moves ahead with vaccinating its population against Covid-19. “I really do think that we are going to see a pronounced recovery in the economy as the vaccination programme, as it is doing now, rolls out,” Bailey said. [...]
A 21st century Big Bang 2.0 won’t look like the eighties – but it’s worth pursuing January 20, 2021 UK financial services can unlock a new phase of growth by taking a lead on sustainability, digital innovation and governance, and redefining ‘Big Bang’ to be far more than simply deregulating markets. Chancellor Rishi Sunak spoke of the City’s “perfect platform” for a post-Brexit “Big Bang” last week but remained equivocal on how the new [...]
Aviation industry launches fresh plea for government support January 20, 2021 The UK’s aviation industry has come together in a fresh plea for extra government support for the struggling industry. Representatives from the country’s biggest trade bodies have called for a aviation and aerospace recovery plan including short-term financial relief for airports and airlines. Measures include the extension of a suspension of business rates to aviation [...]
How finding the quality within value was crucial in 2020 January 20, 2021 There are two broad areas of value in the UK market, financials and commodities, that in aggregate make up around a third of the FTSE All Share index. Within this, however, there are vast differences in both quality and performance. (Please see the end of this article for a glossary of terms). 2020 was a [...]
FTSE 100 falls as recovery concerns weigh on markets January 18, 2021 The FTSE 100 is fell today as last week’s slide in investor confidence continued. London’s premier index closed 0.2 per cent down to stand at 6,723 points. The FTE 250 of midcaps went the other way, rising 0.1 per cent to 20,646 points. In a sluggish day of trading, markets never really got going, with [...]
UK regulatory changes forStablecoins and cryptoassets on the horizon January 18, 2021 On the 7th of January 2021, HM Treasury published a consultation paper titled “UK regulatory approach to cryptoassets and stablecoins: consultation and call for evidence” (Consultation). The Consultation represents the first stage in the government’s consultative process with industry and stakeholders on the broader regulatory approach to cryptoassets and stablecoins. It seeks views on how [...]
FTSE 100 drops to October lows on recession fears January 15, 2021 The FTSE 100 sunk into the red today, capping off its worst weekly performance since the end of October amid fresh Covid woes. The blue-chip index closed down 0.97 per cent at 6,735 points after new data showed UK GDP fell 2.6 per cent in November, sparking fears of a double-dip recession. London’s main market [...]
UK set for double-dip recession as GDP plummets 2.6 per cent January 15, 2021 The UK economy shrank by 2.6 per cent in November as the Covid-19 pandemic took hold of multiple sectors across the country, according to new figures published this morning. The Bank of England estimates Britain’s economy shrank by just over 1 per cent over the final three months of 2020. With a new lockdown in [...]
What has Brexit done to property prices? January 14, 2021 The London and UK property market has, so far, remained relatively impervious to any post-Brexit related decline. Despite claims by the Bank of England that leaving the EU could see house prices fall by up to 35 per cent over three years, new research by Keller Williams UK has found that, so far, this has [...]
Before the Bell: Europe called higher as Biden is due to announce $2trn stimulus January 14, 2021 Volatility in the markets was low across the board yesterday. There was no change to the macroeconomic outlook. “Hence why trading ranges were relatively small. Equity markets in Europe and the US had muted sessions,” David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. “The health crisis is still bubbling away [...]