Exclusive: City of London boss says financial services overlooked in Brexit talks January 13, 2021 City of London Corporation boss Catherine McGuinness has hit out at Boris Johnson’s government for taking financial services for granted and overlooking the City of London during the last two years of Brexit talks. McGuinness, who is policy chair at the powerful local authority, told City A.M. today that she wanted to see “those important [...]
Before the Bell: Tech firms under pressure as Europe poised for modest rebound January 12, 2021 Equities sold off yesterday as last week’s bullish mood was swapped for a more cautious attitude. There was an absence of positive news yesterday so the stories about the health crisis were at the centre of attention, David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. The Chinese authorises announced the [...]
Covid rule-breakers ‘increasingly likely’ to be fined, says police chief January 12, 2021 Those caught breaking Covid rules are now “increasingly likely” to be fined by the police, London’s top officer has said. Metropolitan Police commissioner Cressida Dick said: “Most people are doing the right thing to keep each other safe, but sadly a small minority of people continue to flagrantly ignore the rules, for example by holding [...]
The week ahead, 11-15 January: FTSE housebuilders, Asos, Tesco and UK GDP January 10, 2021 London’s markets started the new year in a frenzy last week, picking up over five per cent and closing the gap on their counterparts around the world. This week is set to be a busy one for the FTSE, with a raft of companies due to provide updates, as well as key economic data in [...]
US jobs figures ‘so bad they’re good’ as 140,000 lose roles amid Covid-19 surge January 8, 2021 Non-farm payrolls show US jobs declined in December as Covid-19 cases surged
UK house prices end 2020 on record high but growth slows January 8, 2021 UK house prices ended 2020 on a record high, but the pace of growth slowed towards the end of the year, the latest figures showed. House prices in the UK were 0.2 per cent higher in December than the previous month, reaching an average value of £253,374. On an annual basis, property prices jumped six [...]
Barratt Developments to resume paying dividends next month January 8, 2021 Barratt Developments announced this morning that it intends to resume shareholder payouts next month as it reported a surge in new home sales due to pent-up demand following the first nationwide Covid-19 lockdown. The FTSE 100 housebuilder said it had delivered an “excellent first half performance” but warned that sales rates had become more subdued [...]
Equity funds ride ‘coronacoaster’ to finish 2020 on a high January 7, 2021 Global equity funds closed a torrid year on a record high as investors were buoyed by news of a vaccine rollout. November saw savers invest a record £8.3bn, beating the previous record of £5.7bn net retail sales from September 2017, according to data from the Investment Association (IA). With interest rates at almost zero investors [...]
UK PMIs: Construction activity continues growth in December January 7, 2021 Construction activity continued to recover in December, helped by higher order books and resumption of work that had been delayed due to the pandemic. The IHS Markit/Cips purchasing managers (PMI) index for construction scored 54.6 in December, with any score above the 50 mark indicating growth. The reading was more or less unchanged from November, when a [...]
Before the Bell: Bulls in control, calm restored to Capitol Hill January 7, 2021 The disturbance at Capitol Hill derailed the process of certifying the Biden electoral victory for a number of hours last night but was then resumed so the final confirmation of Biden’s win should be relatively straightforward. Moreover, the FTSE 100 had a stellar run yesterday as it closed up more than 3 per cent and [...]