House prices continue to fall as buy-to-let landlords sell up May 30, 2023 House prices are continuing to fall, according to a closely watched index, but transactions are ahead of the long-term average due to landlords selling up. According to estate agent Zoopla, landlord properties accounted for 11 per cent of sales in the last month, as high mortgage rates and energy bills forced many property owners to [...]
FTSE 100 close: London index extends losses as pound slides and bond yields soar May 25, 2023 London’s FTSE 100 continued yesterday’s wobble today driven by investors fretting over how high the Bank of England will have to send interest rates to tame sticky inflation. The capital’s premier index slipped 0.74 per cent to 7,570.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Make your own Chelsea Flower Show winner on a London balcony May 25, 2023 The arrival of the Chelsea Flower Show has coincided with the first sustained spell of nice weather in a hitherto miserable 2023. Now Londoners can finally open their garden sheds and channel their inner Alan Titchmarsh, attempting to turn their outdoor spaces into something bright and spectacular. The Chelsea Flower Show this year is themed [...]
FTSE 100 close: Bank of England rate fears after inflation overshoot send house builders tumbling May 24, 2023 London’s FTSE 100 tanked today amid a sell off in companies that are poised to come under pressure from the Bank of England continuing to hike interest rates to tame inflation. The capital’s premier index slid 1.75 per cent to 7,615.22 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
House prices slow as market braces for a solid but ‘not spectacular’ year May 24, 2023 House prices in the UK rose 4.1 per cent in the 12 months to March, adding £11,000 to the average value of a property. However, the figures are down from February’s 5.8 per cent hike and £8,000 below the recent housing peak in November 2022, data from the Office for National Statistics (ONS) reports. Across [...]
Londonmetric swoops on smaller rival in £200m takeover May 24, 2023 Shares in listed property vehicle CT Property Trust have rocketed today after the firm announced it had struck a £200m deal to sell itself to bigger rival Londonmetric.
Crypto roulette May 24, 2023 Like other jurisdictions, the UK is grappling with the issue of DeFi regulation. Existing and prospective legislation place cryptoasset activities within the domain of the Financial Conduct Authority (FCA) and related regulators and therefore in the same regulatory category as traditional financial services. However, other voices press for investment in crypto to be seen as [...]
FTSE 100: Sticky inflation figures spook markets as investors brace for rate hike pain May 24, 2023 London’s flagship index tumbled in early trading this morning as investors took fright at sticky inflation figures that could trigger further interest rate hikes this year.
London ‘busier and busier’ as return to office gathers pace – but demand for flexible working remains May 24, 2023 Great Portland Estates, a leading landlord in office space said London has got “busier and busier,” but noted that it does not expect the the recovery of offices in the capital to be “uniform” as a demand for flexible working and best space remains. Throughout the year, the property firm recorded £55.5m of leasing, as [...]
Close Brothers recovers from bruising start to the year while rising rates lifts fellow merchant bankers Arbuthnot May 24, 2023 Merchant banking group Close Brothers delivered a battling update as it attempts to calm investor nerves following a poor start to the year. In a trading update for its third quarter, Close Brothers reported that its loan book increased by two per cent to £9.2bn. This was driven by a strong new business in commercial [...]