Wage growth has ‘passed its peak’ as Andrew Bailey prepares to address City on interest rates week ahead Workers returning to the jobs markets and boosting the volume of candidates available to businesses are poised to put a lid on wage growth, analysts are predicting official numbers this week will show. Pay growth is said to have “passed its peak” after raging for more than a year, fuelled by staff demanding wage increases [...]
Wall Street falls after hot jobs data raises threat of high rates US Markets Stocks fell on Thursday after reports suggested the US jobs market remains much more resilient than expected. The S&P 500 lost 35.23, or 0.8 per cent , to 4,411.59. The Dow Jones Industrial Average dropped 366.38, or 1.1 per cent , to 33,922.26, and the Nasdaq composite gave up 112.61, or 0.8 per cent , [...]
FTSE 100 close: London’s premier index ends week lower after US jobs report FTSE 100 London’s FTSE 100 closed the week lower as global markets grew increasingly nervous about the extent of interest rate rises still to come. The FTSE 100 closed 0.37 per cent lower at 7,253.43 while the domestically focused FTSE 250 performed more strongly, rising 0.54 per cent to 18,012.46. Investors were digesting the latest jobs data [...]
FTSE 100 tumbles to year low and gives up 2023 gains after hitting record high just months ago July 6, 2023 London’s FTSE 100 tumbled to its lowest closing level this year today as the index was captured by a global stock market sell off ignited by traders fretting over further interest rate rises. The capital’s premier index cratered 2.24 per cent, its biggest one day fall since March, to close at 7,275.60 points, while the [...]
Oil prices weighed down amid sluggish demand from China despite Opec cuts July 6, 2023 Sluggish demand recovery in the world's top crude importer China is continuing to weigh down oil prices, OPEC+ output cuts.
Asset managers exposed to liquidity risk, FCA warns July 6, 2023 The City’s asset managers have left “gaps” in their liquidity management and could be exposed in the event of a run from investors, the Financial Conduct Authority has warned.
FTSE 100 close: Wilting Chinese recovery keeps London mining giants lower July 5, 2023 London’s FTSE 100 sagged today, dragged lower by industrial firms tumbling in response to signs that China’s economic recovery is running out of steam. The capital’s premier index shed 1.03 per cent to close at 7,442.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Britons are worst investors in Europe and have £1.8trn sitting idle in savings July 5, 2023 Britons’ are the worst investors in Europe and have around £1.8trn sitting idle in savings accounts, around the entire value of the FTSE 100, a new report released today has found.
London IPO market shows ‘green shoots of recovery’ after barren start to the year July 5, 2023 The amount of cash raised on the London Stock Exchange has begun to creep upwards this year as the “green shoots of recovery” begin to appear after a barren period on the market, new data shows.
FCA rips up trading tape in post-Brexit rules overhaul July 5, 2023 The FCA has tabled a slew of reforms to City rules to try and keep the capital competitive