LONDON — European stocks moved higher on Tuesday as positive sentiment continues in the final trading days of 2022. Germany’s DAX climbed by around 0.8% in early trade, while France’s CAC 40 was up around 0.9% and Italy’s FTSE MIB around 0.7%. The U.K.’s FTSE index is closed Tuesday for a public holiday. Sector-wise, autos and … Read more
1671200081 London records slowest rate of house price growth as prices dip in fourth quarter London recorded the slowest rate of annual house price growth at +5.2% over the last year to the end of November, data from the Halifax UK Housing Market Review has found, while prices began to take a dip in the … Read more
1670917071 Job vacancies fall, pay growth hits 6.1% The UK unemployment rate of 3.7% in the three months to October was 0.1% higher than the previous three-month period, but 0.3% down on pre-pandemic levels. It was in line with City forecasts. Economic inactivity was estimated at 21.5%, some 0.2% lower than the previous three-month period … Read more
G DP figures showing the UK economy expanded 0.5% in October today launched a packed week for economic announcements. The rebound from the previous month’s fall of 0.6% is unlikely to allay the UK’s recession fears, with the Office for National Statistics pointing out the economy contracted over the last three months as a whole. … Read more
Stocks on the move: SBB up 8%, Rational down 7% Swedish real estate company SBB saw its shares rise 8% by mid-afternoon to lead the Stoxx 600 after presenting its pro forma earning capacity for 2023 following the divestment of shares of education unit EduCo. At the bottom of the index, German kitchen appliance manufacturer Rational … Read more
H SBC has announced the closure of 114 of its UK branches, in a move that will cut their number by a just over a quarter. The global FTSE 100 giant said the move came a drop-off in usage since the pandemic. It will be left with 327 branches nationwide. Staff will be redeployed where … Read more
1669708425 West End has bounced back, Shaftesbury says Soho and Chinatown landlord Shaftesbury has heralded a “rapid rebound” in the West End’s economy as shoppers flood back into the area, despite the wider cost of living crisis in the UK. The company’s full year results showed footfall and spending were both ahead of 2019 levels, … Read more
1669625116 Brickability shares rally after build-up in customer base powers profit growth Shares in Brickability rallied after the building products distributor said its move to extend its customer base helped it lift profits, even as clouds started to gather over the house market amid rising interest rates and the cost-of-living crisis. The AIM-listed company reported … Read more
German October wholesale inflation well below expectations Germany’s Producer Price Index came in at -4.2% month-on-month in October, the federal statistics office said Monday, well below a Reuters consensus forecast for a 0.9% increase. On an annual basis, wholesale prices were up 34.5%, below expectations of a 41.5% incline. – Elliot Smith Stocks on the … Read more
We already knew that Jeremy Hunt’s Autumn Statement was paving the way for years of pain but the Resolution Foundation’s report makes for worrying reading. The scaling back of the energy price guarantee, which will keep average bills at £2,500 until April, means the typical household will only have 30pc of the rise in their … Read more