UK PMIs: Manufacturing growth hits 27-year high in April May 4, 2021 The UK’s manufacturing growth gathered pace in April as production increased for the 11th consecutive month. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose to 60.9 per cent last month, marking the highest reading since 1994. The reading also came in ahead of a flash estimate of 60.7. The growth was driven by a [...]
Joachim Klement, CFA: Three Geo-Economics trends to watch May 4, 2021 | City Talk “Today’s investors need to understand geopolitical trends as a main driving force of markets.” Joachim Klement, CFA Joachim Klement, CFA, has emerged over the last decade as one of the more insightful and compelling voices in finance. Well-reasoned, rigorous, humorous, and occasionally iconoclastic, his perspective, featured either on the Enterprising Investor Blog or on his [...]
Eurozone GDP contracts as it slips into double-dip recession territory April 30, 2021 The Eurozone economy shrank by 0.6 per cent in the first three months of the year as it slid back into recession following persistent Covid lockdowns. The European Union’s statistics office Eurostat said GDP in the 19 countries sharing the euro contracted by 1.8 per cent year-on-year. This put the single currency area in a [...]
How strong might the UK’s post-Covid economic recovery be? April 30, 2021 | City Talk It has been a tough start to the year for the UK. As lockdown restrictions continue to slowly ease, we examine the progress made in tackling the Covid-19 pandemic, and whether hopes for a strong economic recovery are well founded. Vaccines offered hope, speedy inoculation will solidify the recovery A year on from the start [...]
The Evening Read: City veteran Gavin Rochussen on closing deals remotely April 29, 2021 In an exclusive interview, Morning Wire sits down with Gavin Rochussen, the CEO of St. James’s-based Polar Capital, to talk all things asset management, how the pandemic has changed working practices, navigating acquisitions in lockdown and how culture is so important to success. You told me that Polar Capital is a boutique asset manager, but [...]
Man’s best friend: Brits put a premium on pets even as household spend slips April 29, 2021 Not even lockdown could put an end to the old adage ‘Dogs are a man’s best friend’. In the last three months spending on pets surged as Brits prioritised emotional connections. Nationwide’s latest quarterly spending report reveals the biggest increases in spending between January and March have been on dating sites, gardening and pet-related costs. [...]
Fed keeps rates and bond buying unchanged but notes “strengthened” recovery April 28, 2021 The Federal Reserve has left interest rates and bond buying unchanged but is encouraged by a “strengthened economy”. “Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened,” the central bank said. The result of the FOMC result is as analysts expected but the vaccine rollout and additional stimulus [...]
Britain’s top bosses call for ‘national prosperity’ plan to boost growth post-pandemic April 28, 2021 Some of the UK’s top business leaders have called on the Government to set out a plan to boost growth as the country deals with the devastating impact of the pandemic. The Covid Recovery Commission, a group set up by last summer which includes top executives from Tesco, Shell and Heathrow Airport , has set [...]
Trading at all hours: The portfolio implications April 27, 2021 | City Talk Millions of retail investors opened up brokerage accounts this past year and many took to trading throughout the day as a way to pass the time, keep themselves entertained, and make a bit of money. So did all this trading actually help the average retail investor’s portfolio during the COVID-19–dominated months of 2020? Nighttime is [...]
Morning Wire TV: Daily Market Snapshot (video) April 26, 2021 Since early April, US equity markets have been in a persistent uptrend. That’s been is aided and abetted by (i) notable US dollar weakness; (ii) lower bond yields (resulting in tech outperformance); and (iii) a strong Q1 earnings season, with most US companies surprising markets to the upside. In that respect, and while US equity indices [...]