Tourism stocks tumble in the wake of the Jakarta attacks as the share prices of EasyJet, InterContinental Hotels, Tui and IAG fall January 14, 2016 The FTSE 100 index traded lower this morning as attacks in the Indonesian capital weighed on tourism stocks. This morning a series of bomb blasts hit Jakarta, the Indonesian capital, followed by gunfire, reported to have killed at least seven people. In the aftermath of the blasts, Jakarta police spokesman Muhammad Iqbal said five attackers and two other [...]
Sterling touches 11-month low ahead of the Bank of England’s interest rate decision January 14, 2016 The pound rebounded from an 11-month low against the euro today, as the Bank of England's rate-setting committee was expected to keep interest rates unchanged when it announces its decision later today. Sterling was trading at 0.76p per euro this morning, while it was at $1.44 against the dollar. On Tuesday it fell to a five-and-a-half year [...]
FTSE 100 index falters as the price of oil slides January 14, 2016 The FTSE 100 index opened down this morning as the price of oil continued to linger around $30 a barrel. The UK's blue-chip index opened 1.68 per cent down at 5,860 points. "For the first time this year the FTSE 100 managed to post two positive days in a row yesterday, buoyed by a rebound in [...]
Burberry share price jumps on third quarter sales rise with China bounce January 14, 2016 Burberry has cheered investors with a bounce in troubled China. The figures Burberry's revenue inched up in the third quarter by one per cent to £603m, with like-for-like sales flat year-on-year, in line with analyst expectation. That compares to four per cent decline in the previous quarter. Shares in the designer brand jumped as much [...]
Asos on fleek? Share price dips despite strong sales growth January 14, 2016 Online fashion retailer Asos unveiled results ahead of expectations this morning, with retail sales of £446.9m in the four months to the end of December, up 22 per cent from last year. But that wasn't enough to impress investors. The figures In a statement this morning, the retailer said group revenue had risen 23 per cent to [...]
Housebuilder Countryside to IPO on the London Stock Exchange January 14, 2016 Housebuilder Countryside has made a punchy start to 2016, announcing plans to float on the London Stock Exchange – just as global markets teeter on the brink… In a statement this morning, the company said it wants to raise £114m to pay down debt and accelerate growth of existing sites. Investors including Oaktree Capital will use the opportunity to [...]
William Hill’s share price rises despite losing another executive and being hit by hefty gambling duties January 14, 2016 William Hill was hit with hefty gambling duties and reported the loss of another top executive, but that didn't stop its share price rising after posting results in line with expectations. The figures William Hill reported full-year operating profit of £290m, in line with market expectations. Online full-year net revenue rose four per cent to £527.4m. That's [...]
UK skills shortages leading to hindered growth but rising wages in the construction sector January 14, 2016 Wages in the construction industry have shot up as skills shortages continue to plague the sector. According to a survey released today by the Royal Institution of Chartered Surveyors (RICS), just under two-thirds (61 per cent) of construction professionals feel wages in their sector have risen sharply, while average earnings in the industry rose by [...]
Morning Wire shadow MPC: Global stock market plunge spooks economists who vote to hold rates January 14, 2016 The Bank of England should refrain from hiking interest rates today, Morning Wire’s shadow monetary policy committee has said. With less room to cut interest rates should the economy take a downward turn, Anthony Yates, who spent two decades at the Bank, said it would be better to let inflation overshoot than to increase rates now. [...]
House prices: UK outpaced London as prime central property prices dropped last year January 14, 2016 House prices in central London fell by 8.7 per cent last year as higher stamp duty bills hit demand for £1.5m-plus homes, new research shows. Estate agents Your Move and Reeds Rains said prices dropped sharply in the capital’s five most expensive boroughs, dragging the annual rate of growth in London to 5.6 per cent, [...]