FTSE 100: London markets mixed as rate jitters soften Standard Chartered’s boost July 28, 2023 The FTSE 100 had a subdued start to the day as interest rate jitters rippled across the Atlantic and weighed down the boost of Standard Chartered and British Airways owner IAG.
FTSE 100 close: British Gas owner propels to top of London index after record profit July 27, 2023 London’s FTSE 100 bumped higher today after a manic morning of company earnings gave a lift to market sentiment. The capital’s premier index added 0.21 per cent to reach 7,692.77 points, while the domestically-focused mid-cap FTSE 250, which is more aligned with the health of the UK economy, climbed 0.45 per cent to 19,273.37 points. [...]
European Central Bank hoists interest rates to joint record high of 3.75 per cent July 27, 2023 The European Central Bank (ECB) today lifted interest rates for the ninth time in a row, following the US Federal Reserve’s rise last night. It means the eurozone’s key interest rate now stands at 3.75 per cent, its highest level in 22 years. President Christine Lagarde and the rest of the governing council opted for [...]
Banks dish out £7.8bn in dividends as rising interest rates boost profits July 27, 2023 UK banks have dished out bumper payouts to investors over the past three months as lenders rake in profits on the back of rising interest rates, according to new research. Banks hiked their dividends to shareholders by 61 per cent to some £7.8bn to investors in the three months to the end of June, despite [...]
Cut the crap: City firms under pressure to strip out shareholder legalese July 27, 2023 Top City firms must ditch impenetrable legalese and dense corporate-speak in their shareholder missives or amateur investors will remain shut out of the market, experts have warned.
City workers pocket above average 13 per cent pay rise as financial services jobs tumble July 27, 2023 City workers pocketed an average 13 per cent pay increase when switching jobs over the last quarter, a rise that is above the national average, new research out today shows. Salary increases handed down to new starters at the Square Mile’s banks, brokers and insurers have ebbed over the last year as activity in the [...]
Federal Reserve sends US interest rates to 22 year high in possible final hike July 26, 2023 The US Federal Reserve today launched what many on Wall Street think will be the final interest rate hike in its current tightening cycle. Members of the federal open market committee (FOMC) backed a 25 basis point increase to leave the federal funds rate at a range of 5.25 per cent and 5.5 per cent. [...]
FTSE 100 close: Soft Lloyds Bank results spark sell off as Natwest tumbles after Alison Rose exit July 26, 2023 London’s FTSE 100 was dragged down today by investors ditching shares in Britain’s biggest banks after Lloyds posted a soggy set of results that dampened market sentiment. The capital’s premier index fell 0.19 per cent to 7,676.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Are wages or profits to blame for the inflation crisis? July 26, 2023 A lot of energy has been wasted on finding the source of the near two-year long global inflation surge. It has resembled a cathartic process to help families and businesses come to terms with how damaging the cost of living crisis has been. First Bank of England governor Andrew Bailey drew scorn for demanding workers [...]
FTSE 100 close: Unilever helps London index squeeze out gains as traders eye Fed and ECB July 25, 2023 London’s FTSE 100 has squeezed out gains in a busy day of company announcements ahead of the summer slow down. The capital’s premier index edged 0.17 per cent higher to 7,691.81 points, while the domestically-focused mid-cap FTSE 250 index, which is a better reflection of the health of the UK economy, was broadly flat at [...]