All eyes on the Bank but is giving credit all that is due? May 31, 2009 A STRING of economic data is due over the next five days which, after a relative drought recently, are likely to impact investor confidence should there be any surprises. The Bank of England will be acutely aware of this ahead of its interest rate decision on Thursday. With most economists predicting the central bank to [...]
Shrinking economy shakes market but Wolseley grows June 30, 2009 WEAKER than expected consumer confidence figures in the US drove some shares lower yesterday, with banks, miners and food retailers leading the fallers. The FTSE 100 shed one per cent, or 44.82 points, to close at 4,249.21. But the index is up 8.2 per cent on the quarter, the best such performance since the final [...]
US consumer confidence boosts late London trading May 26, 2009 BETTER than expected consumer confidence data out of the US gave the FTSE 100 a much-needed boost yesterday afternoon, after Asia’s sell-off – driven by concerns of heightening geopolictical tension on the Korean peninsula – infected the London markets in early trading. “Following the release of the US consumer confidence data there was an immediate [...]
MARK ON THE MARKETS May 31, 2009 THERE will be plenty for the market to mull over this week. Amongst the economic news, we are expecting PMI surveys, consumer confidence and PPI out of the UK; unemployment figures from the eurozone; as well as consumption data-including the Fed’s preferred inflation measure-from the US. On Wednesday we will hear the views of Fed [...]
UK SERVICES SECTOR OUT OF RECESSION June 3, 2009 A SURPRISE return to growth for the services sector recorded in May boosted hopes yesterday, suggesting that Britain could be the first major economy to recover from the financial crisis. The CIPS/Markit UK services sector purchasing managers’ index (PMI) released yesterday recorded a reading of 51.7, above the critical 50 mark that separates expansion from [...]
The FSA’s enforcement Queen says she will not stop fighting big cases July 21, 2009 IT is never easy to focus on the task at hand when the future of your organisation is in doubt – so even the Financial Services Authority’s (FSA) sternest critics should spare a thought for the beleaguered watchdog’s staff, who are all wondering what will happen to them over the next 12 months. But many [...]
The FSA’s enforcement Queen says she will not stop fighting big cases July 21, 2009 IT is never easy to focus on the task at hand when the future of your organisation is in doubt – so even the Financial Services Authority’s (FSA) sternest critics should spare a thought for the beleaguered watchdog’s staff, who are all wondering what will happen to them over the next 12 months. But many [...]
Businesses back BA tie-ups May 19, 2009 SUPPORT came for flag carrier British Airways (BA) yesterday, after Sir Richard Branson hit out against the group’s intended tie-up with American Airlines (AA) and Iberia. Branson, who owns Virgin Atlantic airlines, had said a merger between BA and AA would create a “monster monopoly” of airline groups, which would lock out competition, and muscle [...]
Businesses back BA tie-ups May 19, 2009 SUPPORT came for flag carrier British Airways (BA) yesterday, after Sir Richard Branson hit out against the group’s intended tie-up with American Airlines (AA) and Iberia. Branson, who owns Virgin Atlantic airlines, had said a merger between BA and AA would create a “monster monopoly” of airline groups, which would lock out competition, and muscle [...]
Surveys hint at slowish turnaround May 31, 2009 THIS week’s May purchasing managers’ indices (PMI) are expected to give a further boost to hopes of a recovery, with many economists now forecasting a return to positive growth in the second half of 2009, although they warn it will not be painless. All three PMIs are expected to show that the rate of contraction [...]