Shares jump for housebuilders as stamp duty survives mini-budget u-turns October 17, 2022 Shares jumped for this afternoon after stamp duty cuts survived Jeremy Hunt’s mini-budget backtrack. Major players like Barratt Developments, Persimmon and Taylor Wimpey all saw their stock rally after the new chancellor’s emergency statement this morning. Barratt’s shares climbed nearly four per cent, whilst Persimmon and Taylor Wimpey were up nearly five per cent. Hunt [...]
Ethereum nears deflationary status, but crypto adoption grows as Bitcoin’s mining difficulty hits ATH October 17, 2022 CryptoCompare's Francisco Memoria takes a look at the last seven days in the crypto markets to see what narratives have driven price action.
Shift your property October 17, 2022 Looking for a quick sale so you can move into your dream pad? Check out Shyft. With more than 300 years’ combined experience in buying homes, the team has an intimate knowledge of the property sector and can accommodate complex sales from anywhere in the country, claiming it can get you a cash offer in [...]
‘Heartbreaking’: Eve Sleep calls in administrators after unsuccessful sales talks October 17, 2022 Mattress seller Eve Sleep has been forced to call in administrators after bosses said the scale of the company had struggled to withstand an “economic tsunami” this year. The AIM-listed sleep wellness brand had been searching for a buyer or equity fundraising but said talks had not been successful. Shoppers had shunned big ticket items [...]
Loungers says it continues to ‘outperform’ the sector as sales climb October 14, 2022 Bar operator Loungers said it continues to “significantly outperform the market” as sales surge for the owner of Lounge and Cosy Club. The firm posted like for like sales growth of 17 per cent growth compared to 2019 levels for the 24 weeks ended 2 October. Since the start of the financial year, Loungers has [...]
Investors scramble to dump UK property funds as valuations dive amid widening Kwarteng mini-budget chaos October 13, 2022 Following last week’s bond market turmoil, which sent shockwaves through the City, investors are now scrambling to exit UK property funds. Since the new chancellor, Kwasi Kwarteng, presented his Mini-Budget at the end of September, the pace at which investors are pulling out of UK commercial real estate funds has accelerated. In the 10 days [...]
London’s FTSE 100 bags gains as rate sensitive stocks kick higher October 13, 2022 London’s FTSE 100 notched gains yesterday driven by stocks exposed to interest rates receiving a boost from reports the government will roll back some of the mini-budget. The capital’s premier index jumped 0.35 per cent to 6,850.27 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Buyer demand sinks as Brits turn to renting instead of homeownership October 13, 2022 The UK’s economic uncertainty has taken “a toll” on the housing market, new data suggests, as buyer enquires sink for the fifth month in a row with Brits turning towards renting instead of homeownership. According to research by the Royal Institution of Chartered Surveyors (RICS) today, demand from new buyers collapsed more than a third [...]
Bank of England warns of ‘severe risks’ to market stability and financial crisis debt levels October 12, 2022 The Bank of England’s emergency £65bn bond buying scheme – that its chief Andrew Bailey last night confirmed will end on Friday – has been fighting “severe risks” to UK financial stability, the central bank said today. Turmoil in UK gilt markets since the government’s mini budget threatened to trigger “an excessive and sudden tightening [...]
Housebuilder Barratt warns volatility is clouding outlook October 12, 2022 Housebuilder Barratt Developments warned that economic volatility was clouding the picture for the year ahead today but doubled down on profit targets for the remainder of the year.