Eurozone fears pull down FTSE to one-year low – London Report October 9, 2014 THE FTSE 100 yesterday hit its lowest level for a year after early gains fell away in a broad-based sell-off as investors became anxious about signs of serious weakening in the Eurozone economy. The blue-chip index, which hit 6,544 points in morning trading, due mainly to a rise in mining shares, ended the day down [...]
As German exports plunge, could the economic giant drag the whole Eurozone into recession? October 9, 2014 Ruth Lea, economic adviser to the Arbuthnot Banking Group, says Yes. Germany’s economy accounts for over a quarter of the Eurozone’s GDP and, until recently, seemed in good health. In contrast, France and Italy are struggling with stagnation and recession respectively. Germany’s GDP fell by 0.2 per cent in the second quarter of 2014, but [...]
FTSE 100 records lowest close for a year as geopolitical and Eurozone worries take their toll October 9, 2014 The FTSE 100 slid to its lowest close for a year today, with anxious investors scurrying to sell off stock due to geopolitical and Eurozone worries. The index of blue-chip shares was down eight per cent on the bell, a 50.39 point drop to 6,431, the lowest level since 10 October last year. [...]
Eurozone inflation rate: Mario Draghi calls on governments to help fight deflation October 9, 2014 Mario Draghi is determined to tackle low inflation in the Eurozone, and has called upon governments to also play their part in the fight against possible deflation. The president of the European Central Bank (ECB) today announced a new package of credit easing measures, including targeted long-term refinancing operations and a bond-buying programme. [...]
Weak Eurozone drags down UK export push October 8, 2014 Britain's resurgent economy is being slowed down by the weak Eurozone, a survey by the British Chambers of Commerce (BCC), says today. GDP was 3.2 per cent higher between April and June than it was over the same period a year before. This was the fastest annual growth of any G7 nation. However, the [...]
UK set to grow despite trouble in the Eurozone October 7, 2014 Economists at the International Monetary Fund yesterday maintained their view that the UK economy would grow 3.2 per cent in 2014 and 2.7 per cent in 2015. The IMF added that a Eurozone recession was now more likely, following poor data in Germany. Manufacturing increased 3.9 per cent on the year but still remained 4.4 [...]
Crisis over for UK – but Eurozone has strong chance of recession, says IMF October 7, 2014 Forget wages rising more slowly than inflation or lagging GDP per capita: the crisis is behind the UK, according to the International Monetary Fund (IMF). Having disagreed with the medicine, the IMF seems now to recognise the current climate as a cure, despite concerns about living standards and spare capacity in the labour market. Things [...]
Eurozone losing battle against new recession October 6, 2014 A WAVE of disappointing data released yesterday showed the Eurozone was struggling to stave off another recession, with the European Central Bank’s lacklustre statement on Thursday failing to lift confidence. Market inflation expectations (based on swaps prices) fell to 1.83 per cent, their lowest since 2010. ECB president Mario Draghi disappointed investors last week when he failed [...]
German factory orders add to Eurozone woes October 6, 2014 German factory orders haven't fallen this far since January 2009. Orders for August dived by 5.7 per cent month on month after a bullish 4.7 per cent jump in July. The fall was far worse than a group of economists polled by Bloomberg had anticipated. As a measure taken in isolation it wouldn't be as [...]
UK manufacturing catches a cold from Eurozone October 1, 2014 Britain’s strong recovery is under threat from the economic troubles in Europe, as data released yesterday showed the UK’s manufacturing sector continuing a sharp decline that began at the start of summer. The purchasing managers’ index compiled by Markit fell to 51.6 for September, below market expectations and a drop from August’s 52.2. Any figure [...]