Metro Bank shares soar as lender returns to profit November 2, 2022 Metro Bank’s shares soared this morning, after the London-listed lender announced it had returned to profit in September. Investors piled into the stock, lifting shares a little over 10 per cent to 80.1p a piece. “I am really pleased to see the business return to profit in September on both an underlying and statutory basis,” [...]
London’s FTSE 100 gains tamed by traders dumping house builders on property price jitters October 31, 2022 London’s FTSE 100 was tamed today by traders ditching the UK’s largest house builders on fears the property is headed for a sharp slowdown. The capital’s premier index’s gains were held to 0.66 per cent, finishing at 7,094.53 points. The domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Soaring interest rates could spark five per cent London house price fall October 31, 2022 Soaring interest rates and a tough cost of living crisis could send London house prices on a downward spiral, new research published today warns. Home prices in the capital are on course to shed five per cent next year, driven by sellers dropping prices to attract buyers hit by an affordability crunch, according to property [...]
Government eyes bank surcharge U-turn despite Lloyds profits tumbling October 27, 2022 Britain’s biggest mortgage lender, Lloyds Bank, has set aside hundreds of millions of pounds in preparation for a surge in loan defaults caused by the rising cost of living and higher interest rates squeezing household budgets. The lender today said it had banked £668m over the three months to September to absorb souring loans, primarily [...]
UK banks return to amassing default reserves amid inflation and mortgage crunch October 26, 2022 Barclays said profits had jumped six per cent in the third quarter of the year as it became the latest lender to see performance buoyed by rising interest rates.
London’s FTSE 100 boosted by Truss trampled stocks regaining ground after Sunak victory October 24, 2022 London’s FTSE 100 today was lifted by stocks that have suffered during the last month’s financial market turmoil regaining losses. The capital’s premier index closed 0.64 per cent higher at 7,013.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.76 per cent to [...]
Government puts bank windfall tax on table to help plug fiscal hole October 19, 2022 The government has put a windfall tax on the UK’s largest banks on the table, sending their shares plummeting today. London-listed Lloyds Bank, which is Britain’s biggest mortgage lender, plunged to the bottom of the FTSE 100 index today, shedding 4.11 per cent. Previously state-owned NatWest trailed closely behind on the biggest losers’ table, dropping [...]
London’s FTSE 100 dragged down by windfall tax rumours hitting UK banks October 19, 2022 London’s FTSE 100 was dragged lower today by investors ditching UK banks on fears they will be hit by a windfall tax by new chancellor Jeremy Hunt. The capital’s premier index fell 0.17 per cent to 6,924.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
New breed of private capital firms will face performance headwinds October 18, 2022 Under the private equity fundraising model, every few years fund managers secure capital commitments with a 10-year duration and charge management and advisory fees during the lock-up period. While longer-dated products have emerged over time, the basic pattern has remained essentially unchanged. Unfortunately, fundraising is cyclical. Downturns require patience: fund managers must wait until the [...]
UK borrowing costs tumble after Hunt shreds Truss’s mini budget October 17, 2022 UK borrowing costs scaled lower today after new chancellor Jeremy Hunt ripped up prime minister Liz Truss’s tax cutting mini budget. The yield on the 30-year UK gilt, which has suffered heavy selling since the mini budget last month, fell around 40 basis points to 4.33 per cent. Rates on the 2-year and 10-year UK [...]