Mortgage lending rises sharply in September for the fourth month in a row October 22, 2015 The amount of mortgage lending to UK homebuyers jumped by 12 per cent in the year to September as rising employment and earnings growth helped keep confidence levels high. Gross mortgage lending reached £20bn in September, up from £17.8bn the same time last year and two per cent higher than August’s lending total of £19.7bn, [...]
Best of the Brokers for 19 October 2015 October 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com The miner’s third quarter results were “modestly disappointing”, analysts at Canaccord Genuity said, with reduced full year production guidance in alumina, diamonds and titanium dioxide feedstock. Iron ore shipments, mined copper production and aluminium were all below Canaccord forecasts. The analysts held their [...]
Housing stocks may benefit from new data – New York Report October 18, 2015 HOUSING stocks could be in for a boost if September data due out next week confirms strength that market watchers expect. Home buyers returned from summer vacations to lower mortgage rates and increasing rents, and may have moved back into the market after staying away in August. Shares in the sector fell in mid-to-late September after August [...]
London house prices: Prime central property prices will drop this year, but the cool-down won’t last long, says Savills October 15, 2015 The price of London’s prime property will decline in price this year on the back of last 2015's stamp duty reforms, but they will climb by a whopping 21.5 per cent over the next five years, an estate agent has predicted. Prime central London property prices, which average at around £5m, will drop two per cent this [...]
Bank of America Merrill Lynch reports a $4.5bn profit despite market chaos and low rates October 14, 2015 Bank of America Merrill Lynch (BoAML) reported its net income for the three months to the end of September rose to $4.5bn (£2.9bn), after making a loss of $232m in the same period in 2014. Net income decreased from $5.3bn in the previous quarter, as did diluted earnings per share, which were $0.37, down from $0.45 in [...]
JPMorgan reports third quarter profits up 22 per cent due to tax benefits October 13, 2015 JPMorgan Chase & Co. has reported third quarter profits rising 22 per cent due to $2.2bn (£1.44bn) in tax benefits. The company said in a statement that the quarter reflected the tax benefits "due to the resolution of tax audits and the release of deferred taxes". Net income rose 22 per cent to $6.8bn from [...]
London’s housing problem doesn’t need another government scheme: It’s time to slaughter sacred green belt cow – The City View October 7, 2015 During his time at 10 Downing Street, David Cameron has presided over a number of deeply complex attempts at helping Generation Rent climb the first rung of the housing ladder. NewBuy came first, guaranteeing 95 per cent mortgages for first-time buyers on new-build properties. That was followed by Help-to-Buys one and two: respectively, equity loans [...]
Lloyds share sale: Should you register to buy? 62,000 investors tempted by future dividends October 7, 2015 Investors have been sent into a frenzy by government plans to sell off its remaining shares in Lloyds Banking Group next spring. Since the news broke, 62,000 people have already registered for the chance to buy up shares at a discount. But fear not, there is plenty of time. Read on for our guide to [...]
UK house prices expected to rise again over next 12 months – Halifax October 6, 2015 A looming interest rate hike has failed to dent the outlook for house price growth in the UK. Halifax’s quarterly housing market survey revealed house price inflation is at nine per cent yet optimism remains high, with 68 per cent of Britons expecting average property prices to be higher in 12 months’ time and [...]
Stars align for shoppers: Experts predict a consumer boom amid low inflation and cheap energy October 6, 2015 All the ingredients for a consumer boom are appearing, experts say, as turbulence in Asia keeps commodity prices and inflation down. Oil prices remain low amid global oversupply and market worries about slowing demand in China. Meanwhile, Beijing’s devaluation of the yuan means lower inflation – in the form of cheaper goods from China [...]