At the close: Sterling surge holds down the FTSE 100 July 12, 2016 The FTSE 100 closed flat this evening after ending yesterday's session at an 11-month high. The blue-chip index closed at 6,680.69 points, down just two points and flat in percentage terms. The end to yesterday's rally was put down to sterling being on course for its best performance against the yen in over three years after Theresa May [...]
Defined benefit pension hole deepens to over £380bn following Brexit vote, according to pensions lifeboat figures July 12, 2016 The hole in the UK's pension pots became much harder to fill last month, according to figures released today by the pensions lifeboat. The numbers from the Pension Protection Fund revealed that, based on its calculations, the aggregate deficit across 5,945 defined benefit (DB) pension schemes had jumped from £294.6bn at the end of May to £383.6bn at [...]
Before the bell: What you need to know before the US market open July 12, 2016 Major US markets are on a tear hitting record highs and the UK blue-chip index is in bull market territory. Here's what you need to know before the US market open at 2:30pm London time. It seems nothing can stop the equity ball rolling now, with futures pointing yet higher ahead of the open. The [...]
Why it could be a happy summer for stock market investors July 12, 2016 Are risk assets shaping up for a summer rally? That’s the question investors are asking themselves after Friday’s non-farm payrolls report. It’s raising hopes that the US economy is on a more stable footing than thought. It’s good news for risk sentiment – provided the Federal Reserve holds the line in commentary this week with [...]
Fixed or tracker: As Brexit prompts mortgage rates to tumble, how long should borrowers hold out for? July 12, 2016 Brexit might have thrown markets into turmoil, but if you’re thinking of taking out a mortgage, or are remortgaging, rates are about to get even more competitive. Since the referendum began in earnest, investors have clambered to buy government bonds, driving down yields and enabling mortgage lenders to offer more long-term funding. Banks have been [...]
Revolution in Japan’s boardrooms could be just the medicine for ailing economy July 12, 2016 Japan's Prime Minister Shinzo Abe has declared victory in the weekend election after winning a majority in the parliament’s upper house. He will use the fresh mandate to press on with plans to reform the flailing economy – under the strategy dubbed “Abenomics” – and will also look at changing the country’s pacifist constitution. Japan’s [...]
At the close: FTSE 100 charges into bull territory as investors cheer leadership certainty and the weak pound drives up profits July 11, 2016 Well, there it is. The FTSE 100 has swung from bear market territory to a bull market in just over six months. The twists and turns of the day's political events gave a fresh boost to the global FTSE 100, while the UK focused FTSE 250 also posted strong gains. Housebuilders, such as Barrat Developments and [...]
Focus on retirement goals when saving for your pension, urge actuaries July 11, 2016 People need to shift their mindset on pensions away from what proportion of their paypacket they are saving to what kind of lifestyle they want in retirement, a report out today suggests. According to the research from The Institute and Faculty of Actuaries (IFoA), encouraging people to focus on what they want their pension pot [...]
Exchange-traded funds (ETF) market set to grow to $7 trillion by 2021 July 11, 2016 Assets under management in exchange traded funds (ETFs) are expected to more than double in size over the next five years, according to a report by PwC. They will increase from around $3 trillion to $7 trillion by 2021, according to PwC. Over that time, the market will expand through entering new markets and developing further distribution channels and asset [...]
Asset management growth has “stalled” to 2008 levels, new report finds July 11, 2016 The global growth of asset management "stalled" in 2015, marking its worst year since the 2008 financial crisis, a new report has found. Growth in assets under management (AUM) rose by one per cent globally to $71.4 trillion (£55 trillion), from $70.5 trillion. The figure grew by eight per cent in 2014 and averaged five per cent [...]