FTSE 100 today: London stocks to stay subdued in light trading as Asia and Europe mark Labour Day holidays May 1, 2024 Asian markets were mixed following Wall Street's poor performance. Concurrently, oil prices experienced a decline while gold remained stable. Starbucks, AMD, and Supermicro saw significant stock declines. Now, all eyes are on the upcoming US Federal Reserve policy decision and Chair Jay Powell's remarks.
Impact of Bank of England interest rate hikes wanes as mortgage approvals rise April 30, 2024 Bank of England figures showed that net mortgage approvals climbed again to 61,300 in March, slightly above the 60,500 seen in February and roughly in line with economists' expectations.
Santander UK profit slides amid mortgage price war and rate cut expectations April 30, 2024 Santander UK has reported a 29 per cent slump in profit as the boost from higher interest rates fades and a fiercely competitive mortgage market forces it to offer better deals to customers.
Metro Bank reports £500m drop in lending as it pivots to higher-margin products April 30, 2024 Metro Bank has reported a fall in lending at the start of 2024 but saw a rise in deposits as it looks to rebound from potential collapse last year.
Top forecaster says UK economy has reasons to be cheerful with stagnation to fall away April 28, 2024 The UK economy could be on the mend after it fell into a shallow recession last year as it battled high inflation and interest rates.
Natwest shares jump after first quarter results as government continues to reduce stake April 26, 2024 Natwest profits slumped in the first quarter of the year but stayed ahead of market expectations as it shrugged off the worst of the mortgage downturn to expand its lending book.
Barclays shares hit two-year high after profit beats estimates, but investment bank struggles April 25, 2024 Barclays has reported an 11 per cent drop in profit - slightly outperforming analysts' estimates - as the boost from higher interest rates fades and its investment bank struggles to compete with its Wall Street rivals.
Lloyds profit drops against bumper 2023 as margins shrink April 24, 2024 Lloyds Banking Group has posted a 28 per cent fall in profit - in line with analysts' estimates - as price wars and the prospect of interest rate cuts forced it to offer better rates to customers.
What is going on with London house prices? It’s messy, but green shoots are appearing April 22, 2024 After a challenging few years green shoots appear to be emerging in London’s property market.
Lloyds, HSBC, Barclays and Natwest set to report lower profits – but doubts over rate cuts could lift lenders April 20, 2024 The UK's biggest banks are set to report lower profits and narrower margins in the coming weeks as the interest rate tailwind which pushed their earnings to a record high last year dies down.