Strongest retail deflation ever recorded as prices slip further July 8, 2014 UK shop prices are declining at the fastest pace in at least eight years, with non-food prices shrinking even further in June. The latest report from the British Retail Consortium (BRC) and Nielsen suggests that shop prices dropped by 1.8 per cent in June, the largest fall the group has recorded since beginning the series [...]
Best of the Brokers for 03 July 2014 July 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com OCADO GROUP Deutsche Bank has upped Ocado to “hold” after six months on a “sell” rating, reducing the target price to 330p from 350p. The broker thinks while there has been a slowdown in sales growth, expectations are more realistic, and there is [...]
Higher core Eurozone inflation may allow ECB to “wait and see” June 30, 2014 Inflation in the euro area has held steady in June, static at an annual rate of 0.5 per cent, according to data released by Eurostat. Fears over the disinflationary climate in the Eurozone prompted the European Central Bank (ECB) to take action this month, with president Mario Draghi delivering a package of measures aimed at [...]
Weak inflation helps to boost family finances June 23, 2014 Households have more spending power than at any time in the past four and a half years, with less pressure on essential spending and especially energy bills. Lloyds Bank’s latest barometer of consumer confidence reached 146 in May, according to research released this morning, well above the 100 level set in January 2010. The index [...]
May retail sales dip after Easter buying splurge June 19, 2014 Retail sales fell 0.5 per cent between April and May, dipping after the Easter boost to families’ shopping, even with strong growth on the year. Sales by quantity were 3.9 per cent higher last month than in May 2013, and up 1.3 per cent in the three months to May, when compared to the three [...]
London Report: Concern over oil price pushes up London shares June 18, 2014 THE FTSE 100 was up yesterday, with oil companies lifting the market due to high crude prices in the wake of heavy fighting in Iraq, Opec’s second-largest producer. The index closed up 0.2 per cent, or 11.79 points, at 6,778.56 points. Brent crude oil rose towards $114 a barrel as Sunni militants pushed forwards in [...]
UK inflation rate fell to lowest level in five years last month June 17, 2014 Inflation fell to its lowest level in five years this May, coming in at just 1.5 per cent, despite the continued strength of the economic recovery. A 3.2 per cent drop in air fares between April and May, driven by a spike around the Easter school holidays, helped to trim CPI to its slowest growth [...]
Rolls-Royce and airline share price falls put FTSE in a spin June 11, 2014 Trouble in the skies and a reduction in the World Bank’s global forecast and a couple of companies going ex-dividend yesterday brought the FTSE down. The FTSE 100 closed down 34.68 points at 6,838.87, a fall of 0.50 per cent. The cancellation of Emirates Airlines’ major order for 70 new Airbus A350s hit shares of [...]
Justin King’s final curtain: Sainsbury’s CEO goes out on sliding sales June 11, 2014 It is chief executive Justin King’s last set of results, and Sainsbury's has reported a 1.1 per cent fall in like-for-like sales – in line with expectations. Including fuel, they dropped 2.4 per cent in the 12 weeks to 7 June. But shares have risen by as much as two per cent this morning. Darren [...]
Indian President says reducing inflation is Modi’s primary task June 9, 2014 COMBATING India’s elevated inflation will be the priority of the incoming government under Prime Minister Narendra Modi, according to a statement of its principles by the country’s President yesterday. “We will work together to usher our economy into a high growth path, rein in inflation, reignite the investment cycle, accelerate job creation and restore the [...]