UK business borrowing forecasts fall by £7bn on recovery hopes May 10, 2021 Forecasts for UK business borrowing have been slashed as the economy rebounds from the Covid-19 pandemic more quickly than anticipated. Banks are set to lend £19bn to British companies this year, up four per cent year on year but down from the £26bn forecast in February. Growth is set to slow further in 2022 to [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, City A.M. checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]
Foxtons sees revenues rocket amid stamp duty-driven housing boom April 14, 2021 Foxtons has seen impressive revenue growth in the three months to 31 March, at a time when house prices are at an all-time high amid the stamp duty holiday. Group revenue at the estate agent in the first quarter of 2021 stood at £28.5m, up 24 per cent on the same period last year. [...]
Overnight stays restart this week, as PM sets out ‘traffic light’ plan for holidays abroad April 12, 2021 Overnight stays restart this week, as PM sets out 'traffic light' plan for holidays abroad
Wall Street flat and FTSE 100 slips into the red as Archego default hits banks March 29, 2021 Wall Street closed flat and the FTSE 100 slipped into the red today as fears of potential losses from a major US hedge fund defaulting on margin calls held back stocks. While the Dow Jones gained 0.3 per cent, the S&P 500 was 0.09 per cent lower and the tech-heavy Nasdaq closed down 0.6 per [...]
Budget 2021: As it happened March 3, 2021 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer delivers the government’s Budget later today – at 12.30pm. Please also visit our dedicated Budget 2021 Hub. Wrap-up of the main Budget announcements Here’s a wrap-up of the main announcements made by the chancellor in his spring Budget: [...]
Pound off to a good start ahead of this week’s Budget March 1, 2021 The pound has got off to a positive start ahead of this week’s budget as optimism over the vaccine rollout, which passed the 20m at the weekend, fostered hopes for an economic rebound that is likely to be much faster than its peers in Europe. Moreover, with the UK budget only two days away, mortgage [...]
FTSE 100 falls as bond sell-off knocks equities February 26, 2021 The FTSE 100 fell this morning as equities were hit by a global sell-off in bonds due to growing concerns about rising inflation. London’s blue chip index was down 0.5 per cent at 6,618 points, along with the FTSE 250, which also fell 0.5 per cent. Despite the fall, the FTSE 100 is still set [...]
Stamp duty holiday: Property experts split on benefits of tax break extension February 24, 2021 The government is reportedly planning to extend the stamp duty holiday to June, with buyers set to save £1.75bn on 300,000 additional transactions, according to the latest research. There are an estimated 628,000 sales in total still currently in the legal process across the country – including those agreed last year – data from Rightmove [...]
The Week Ahead: Barclays, Natwest, retail sales, public borrowing February 15, 2021 City A.M. takes a look at some of this week’s market-shaping events. Barclays – Full year results (Thursday) The past 12 months have been difficult ones for banks in general, but UK banks have underperformed relative to their peers, Hewson said, with the unknowns of what a final Brexit deal might look like also weighing [...]