Bank of England: No UK interest rate rise under present conditions until 2017 November 5, 2015 If global market conditions remain as they are we are unlikely to see an interest rate rise in the UK until spring 2017, according to the latest inflation report from the Bank of England (BoE). The pound fell sharply on the news, and at pixel time was trading at 1.526 against the dollar. The BoE said since the [...]
Bank of England lowers UK growth outlook to 2.7 per cent as MPC votes 8-1 to hold interest rates November 5, 2015 The Bank of England's monetary policy committee (MPC) lowered their UK growth outlook to 2.7 per cent from 2.8 per cent today, as its more hawkish members failed to be convinced of the merits of a rate rise. Although some economists had expected Kristin Forbes or Martin Weale to join the ayes, Ian McCafferty was left alone voting to [...]
ECB president Mario Draghi says quantitative easing has been “undoubtedly effective” November 5, 2015 European Central Bank (ECB) chief Mario Draghi has shed a positive light on the success of the central bank's quantitative easing programme to date. During a speech in Milan today, he said the security-purchase scheme implemented so far was “undoubtedly effective”. Launched earlier this year, the programme involves the purchase of government securities from Eurozone member states. [...]
Barclays share price picks up on the news new chief executive Jes Staley has bought 2.8 million shares November 5, 2015 Barclays' new chief executive, Jes Staley, has spent £6.5m buying shares in the lender. The former JP Morgan investment banker bought 2,790,000 ordinary shares for 233p each, the lowest price the shares have traded at since January. Shares dropped as low as 229.3p this morning but have now picked up, hovering around 231p, down 0.1 per cent. Last [...]
AstraZeneca share price rises on improved full-year outlook November 5, 2015 AstraZeneca is optimistic about its full-year figures, and the news has gone down a treat with investors. The figures The British drugmaker has revised its 2015 sales guidance to be “in line” with last year, a slight improvement from a the low single-digit decline it previously anticipated. Similarly, core earnings per share are now expected [...]
London property prices: Here’s how many houses have sold for £1m in the last five years – and where is seeing the biggest growth November 5, 2015 Here's a million-dollar question for you: how many £1m-houses does London have, and which boroughs are seeing the fastest growth? Over the past decade, nearly 54,000 £1m (or more) homes have been sold – and Kensington & Chelsea accounts for more than 10,000 – almost a fifth of the total. But this borough appears to be slowing – perhaps as [...]
Thomas Cook share price hit as UK government cancels flights to Sharm el-Sheikh airport November 5, 2015 Shares in Thomas Cook fell 5.8 per cent to 113.55p in early trading, after the UK government cancelled flights to Sharm el-Sheikh. David Cameron grounded flights to the Egyptian resort last night, saying the safety of British citizens was the government's "first priority", after a Russian Metrojet flight from Sharm crashed in the Sinai peninsula at the [...]
Halifax house price index: What tightening conditions? House price growth hits its highest since last August November 5, 2015 Year-on-year house price growth hit 9.7 per cent in the three months to October, according Halifax's house price index – its highest since August 2014. Prices rose 2.8 per cent in the three months to October to £205,240, up from £202,931 in September and £186,469 in October last year. But while house price growth may be in rude health, there have been recent concerns about the sector. Yesterday shares in Countrywide, the UK's biggest estate [...]
FTSE 100 index opens marginally down despite gains from RSA, AstraZeneca and Glencore November 5, 2015 The FTSE 100 opened marginally lower this morning, despite a positive outlook from AstraZeneca and RSA, and continued support for Glencore following on from yesterday. The UK's top bluechip index was down 0.25 per cent at 6,395 points, led lower by supermarket Morrisons, which reported sales continued to tumble this morning. Total sales excluding fuel were down two per cent, while [...]
RSA share price soars as insurer insists turnaround is on track after collapsed Zurich deal November 5, 2015 The UK insurer has been pummelled by currency headwinds and volatile financial markets, but insists its turnaround remains firmly on track – despite the failed deal with Swiss rival Zurich. The figures RSA reported underlying premium income of £4.4bn for the year to date, up one per cent against last year. The insurer said profit [...]