Oil prices could tip over $80 ‘within days’ as Israel vows retaliation
Oil prices could tip over $80 ‘within days’ as Israel vows retaliation Jump to content Source link
All posts tagged: FTSE 100
Pound hits two and a half-year high
<![CDATA[ The pound hit its highest against the dollar in two and a half years after official data showed consumer confidence in the US dropped sharply this month. ]]> Source link
$100bn wiped off Nvidia amid tech bubble fears
$100bn wiped off Nvidia amid tech bubble fears – latest updates Jump to content Source link
FTSE 100 Live 3 June: GSK shares tumble, Monzo turns first profit
GSK shares are today’s major focus after the drugs giant’s defence against Zantac claims suffered a setback in a Delaware court. Source link
Economy is ‘going gangbusters’, suggests Office for National Statistics
Thanks for joining me. After the excitement of the Governor of the Bank of England saying interest rate cuts are needed, today the latest official figures show Britain has exited recession. Gross domestic product grew by 0.6pc during the first quarter, according to the Office for National Statistics. 5 things to start your day 1) Soaring immigration is fuelling Britain’s housing crisis, says Bank’s chief economist | Huw Pill said higher interest rates were not responsible for record hikes in rental costs 2) HSBC pushes Sunak to ease China crackdown | Banks fear new security rules will make doing business in Beijing more difficult 3) Trump ‘offered to block electric car rollout’ as he asked oil bosses for $1bn | Presidential candidate promises to dismantle Biden’s ‘ridiculous’ environmental rules 4) London’s stock market collapse is ‘massively overstated’, says Hunt | Chancellor attempts to assuage rising fears over Square Mile exodus 5) The charts that point to a summer interest rate cut | Easing inflation and a cooling jobs market suggest lower borrowing costs on the …
FTSE 100 Live 9 May: Bank of England holds interest rates, index jumps
Kathleen Brooks at XTB says: “The Bank of England kept rates on hold on Thursday, however, the interesting part of this meeting was the release of the second Monetary Policy Report of the year. As expected, growth was revised higher, while inflation was revised sharply lower for the UK. The BOE no longer sees UK inflation with a 3% handle in its forecast period, which is out to 2027. This is a big shift for the UK, and suggests, that the UK’s inflation problem is now under control, and price pressures have slowed sharply even though the economy is near full employment. While the BOE thinks that it is too soon to declare victory over the cost-of-living crisis, the BOE also thinks that the key indicators of inflation persistence are moderating, which is helping the overall disinflation trend to continue. The BOE’s forecasts for the unemployment rate were also revised lower, which could mean that the UK economy will get its very own soft landing.” Source link
Markets risk underestimating size of rate cuts, Bailey says
Thanks for joining us. The Bank of England will announce its next decision on interest rates at noon. We will have live coverage of the build-up, the decision and what it means for you. We start with a look at income tax, which a leading think tank believes could rise by 3p regardless of who wins the next election. The National Institute of Economic and Social Research (Niesr) said the promise to stick to the fiscal rules – which says debt will be falling within five years – means that the only wait to meet the pledge is to increase taxes. 5 things to start your day 1) Apple’s ‘destructive’ new iPad ad sparks backlash from artists and authors | Musical instruments and art supplies were squashed in Apple’s latest advert 2) Treasure hunter backed by Sir Paul Marshall loses legal battle over World War Two silver | Argentum fails to recoup costs of recovering 2,000 silver bars from 1942 shipwreck 3) P&O Ferries chief forced to ‘clarify’ evidence to MPs as he admits crew …
AstraZeneca gets £3bn boost after withdrawing Covid vaccine
Thanks for joining me today. Traders are ramping up bets that the pound will fall in the coming months amid a growing conviction that the Bank of England will cut interest rates before the US. The level of wagers placed by investors against sterling has hit a 16-month high, according to data from the US Commodity Futures Trading Commission, first reported by the Financial Times. Meanwhile, asset managers have not been more pessimistic about the future strength of the pound since March last year, according to State Street, one of the world’s largest custodian banks. The pound has fallen 1.5pc against the dollar this year, although that has still made it the strongest performer among the G10 group of major currencies. However, traders expect the Bank of England, which announces its next interest rate decision tomorrow, will cut borrowing costs earlier and faster than the US Federal Reserve. Derivatives trades indicate that a first interest rate cut will happen in Britain by September at the latest, while money markets suggest it could be as late …
House prices return to growth despite mortgage rates pain
Welcome to another week. UK markets are back in action today after the (wet) bank holiday weekend. We will have the first quarter results from BP shortly, but first we have the latest data on house prices from mortgage lender Halifax. It showed that the average price of a home increased by 0.1pc between March and April to £288,949. 5 things to start your day 1) House prices to leap more than £60,000 over next five years | House price to rise more than £60,000 as interest rate pain eases 2) Labour will boost ‘appetite’ for London stock market, says City broker | Peel Hunt believes change of government will make UK investable again after a gloomy time for the stock market 3) Bud Light has promised to ‘stay in their lane’ after trans backlash | Brewer’s European boss has learned to keep contested issues away from beer 4) Royal Mail suitor Kretinsky is eyeing a bid for troubled French tech giant Atos | The “Czech Sphinx” is among the financiers vying to bail out …
Hong Kong stocks surge as China bails out markets
Thanks for joining me. Hong Kong led another rally across Asian markets thanks to a surge in tech giants, putting it on course for its strongest run since 2018. The Hang Seng was the standout performer overnight thanks to buying of heavyweights including Alibaba and JD.com. 5 things to start your day 1) Apple suffers biggest iPhone sales slump in three years | Decline comes as Chinese shoppers turn their back on the tech company 2) Inflation crisis was fuelled by economic groupthink, says Lord Mervyn King | Former Bank of England Governor blames 40-year-high CPI on lack of dissenting voices 3) Oil boss accused of driving up petrol prices by colluding with rivals | Leading US energy executive barred from ExxonMobil board over alleged Opec collaboration 4) How Barclays became a lightning rod for Gaza activists | After bowing to pressure from climate protesters, the bank is facing a fresh wave of accusations 5) Annabel Denham: Angela Rayner’s humiliation is a rare gift to Britain | Labour’s decision to water down its workers’ rights …