FTSE 100 close: Wall Street sell off spreads to London pushing premier index further away from 8,000 point mark February 22, 2023 London’s FTSE 100 was drawn into a sell off on Wall Street last night, pushing it further below the 8,000 point threshold today. The capital’s premier index fell 0.59 to 7,930.64 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.82 per cent to [...]
House price growth hits highest level since 2004 with record average of £265.3k March 31, 2022 Annual house price growth has increased to 14.3 per cent, from 12.6 per cent in February. According to Nationwide’s house price index, this was the strongest pace since November 2004. The price tag of the average home hit a new record of £265,312, an increase of more than £33,000 in the past year. Prices have [...]
UK household debt swells past £2 trillion for first time ever March 27, 2023 Family debt has swelled past £2 trillion for the first time ever in a sign Brits are whipping out their credit cards to fund spending amid the cost of living crunch, new research out today reveals. Household debt is now nearly the same size as the entire UK economy (£2.2 trillion) and has been pushed [...]
Average UK house costs £271,613 as price growth shows ‘tenative signs of slowdown’ June 30, 2022 The pace of UK house price growth slowed modestly last month, with the price tag of a standard home hitting a new record high of £271,613. According to the Nationwide House Price Index published on Thursday, average prices increased by over £26,000 in the past year. The rate of annual growth slowed to 10.7 per [...]
Property franchise the Belvoir group has uptick in revenue built on lettings September 5, 2022 Property franchise the Belvoir group’s revenue was up 12 per cent in the first half of the year driven by the continued high demand for lettings. The firm, which also runs financial services, made £15.4m up until June, up from £13.8m in the same period last year. Its gross profits was dominated by 60 per [...]
FTSE 100 close: Markets in the red as Bank of England hikes interest rates to 5.25 per cent August 3, 2023 London’s FTSE 100 stayed in the red through most of Thursday on a day which saw the Bank of England confirm a 14th consecutive interest rate hike of 25 basis points. The capital’s premier index was down 1.27 per cent by midday and closed at -0.51 per cent. The domestically-focused mid-cap FTSE 250 index, which [...]
City banks and insurers will book £330bn climate change loss without action to control impact May 24, 2022 The City could lose as much as £330bn over the next three decades if the UK fails to tackle climate change, the Bank of England said today. Firms will struggle to pay back loans due to costs swelling as a result of higher carbon prices, according to conclusions drawn by the Bank from its first [...]
PMI: House building shrinks for first time since beginning of pandemic July 6, 2022 A slowdown in the UK economy triggered by the cost of living crisis has led to house building stalling, a closely watched survey published today reveals. Activity in the UK house building sector dropped for the first time since May 2020, when the country was in the teeth of the most onerous pandemic restrictions, according [...]
The Notebook: Victoria Scholar on the retail winners this year November 9, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar of Interactive Investor
Nationwide hands out £340m to customers as it reports 40 per cent profit boost from higher interest rates May 19, 2023 Nationwide’s profit jumped in 2023 as the building society became the latest firm to benefit from higher interest rates. The building society’s pretax profit climbed nearly 40 per cent to £2.2bn from £1.6bn last year despite a slight increase in costs. Nationwide’s net interest margin, the difference between what it pays out and receives in [...]