Something a little different from The MWek Company this week as our capital markets guy, Aj Rakhe, talks about a change in view in the landscape for ESG data. October 24, 2022 | Sponsored “A number of years ago, I bet that I was not the only one that turned the page, scrolled past or sighed and rolled my eyes at the mention of “ESG strategy”. I was adamant in my view (as someone who has worked within fixed income for most of my adult life) that an investor [...]
Week ahead: Drama in Westminster to grip City, but don’t forget about ECB October 23, 2022 The City’s attention will be gripped by the race to Number 10 this week, but there are some substantial economic announcements elsewhere in the pipeline that deserve a closer look. The European Central Bank (ECB), the monetary authority of the 19 countries using the euro, is expected to hike interest rates 75 basis points for [...]
Sterling tumbles as markets brace for more turmoil October 21, 2022 Sterling has tumbled in the wake of Liz Truss’s resignation this morning as traders brace for another period of political turmoil in the UK.
London Stock Exchange Group beats analyst estimates with £1.9bn income October 21, 2022 The chief of the London Stock Exchange Group said its “strategy is working” today as it reported a 16.2 per cent rise in income and doubled down on its profit targets.
Oil prices remain firm as China considers easing Covid-19 restrictions October 20, 2022 Oil prices have risen slightly on both major benchmarks, amid reports China is considering easing Covid-19 quarantine measures.
UK borrowing costs cool after Truss quits as shortest serving PM ever October 20, 2022 UK borrowing costs scaled lower today after Liz Truss exited as the shortest serving prime minister on record at 44 days. Yields on the 10-year gilt dropped around 27 basis points to 3.8 per cent after Truss resigned in the early afternoon. They had been trending higher during early trading. Rates on the 30-year gilt, [...]
London’s FTSE 100 dragged down by windfall tax rumours hitting UK banks October 19, 2022 London’s FTSE 100 was dragged lower today by investors ditching UK banks on fears they will be hit by a windfall tax by new chancellor Jeremy Hunt. The capital’s premier index fell 0.17 per cent to 6,924.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Truss and Kwarteng did not brief BoE on mini-budget, dep governor Cunliffe says October 19, 2022 Liz Truss or former chancellor Kwasi Kwarteng did not tell the Bank of England of their plans to slash taxes £45bn in last month’s botched mini-budget, one of the central bank’s executives said today. Sir Jon Cunliffe, the Bank’s deputy governor of financial stability, told the treasury select committee today the government did not brief [...]
Quilter assets slide as volatility shakes markets October 19, 2022 Shares in wealth manager Quilter dived this morning as the FTSE 250 firm revealed its assets under management tumbled to £96.9bn in the three months to the end of September.
Truss mini-budget sparked five worst days on UK debt market on record, Bank of England says October 18, 2022 Prime minister Liz Truss’s botched mini-budget triggered the five most volatile days on the UK debt market since records began 22 years ago, the Bank of England said today. Financial markets were rocked by Truss and her former chancellor Kwasi Kwarteng launching £45bn worth of unfunded tax cuts and raising borrowing to fund a two-year [...]