FTSE 100 Live: Stocks jump; oil dips below $100 as Trump says Iran deal close May 6, 2026 Good morning and welcome back to the City PM liveblog. Brent crude dipped below $100 at Wednesday lunchtime after Donald Trump has hailed “great progress” towards a “final agreement” with Iran, prompting a rally in the FTSE, Asian markets and Wall Street. In a sudden reversal late last night, President Trump said he will pause [...]
A bank tax hangs in the balance at the local election ballot May 6, 2026 As speculation of a leadership challenge – or sweeping reshuffle – surrounds the forthcoming local elections, in this week’s column Samuel Norman looks at what a change in Chancellor would mean for the banking sector. It is no secret that Thursday’s local elections carry a weight far heavier than the fate of a few neighbourhood [...]
‘Clear risk signal’: Gilt yields hit 28-year high as investors weigh Starmer’s future after local elections May 5, 2026 Gilt yields have risen to their highest rate since 1998 as investors weigh the odds of Keir Starmer being ousted following what is widely expected to be a major defeat for Labour at the local elections. The yield on 30-year government bonds rose 11 basis points on Tuesday to hit 5.76 per cent, topping the [...]
HSBC profit drops after Iran war and private credit charges bite May 5, 2026 HSBC missed its profit target in the first quarter of the year after the blue-chip lender booked a mammoth credit charge. The FTSE 100 giant – which boasts a huge £230bn market cap – recorded a pre-tax profit of $9.4bn (£6.5bn), missing the $9.6bn pencilled in by analysts. This figure is also down $100m on [...]
FTSE 100 Live: Gilt yields surge over Starmer fears; Intel, Pinterest shares rocket May 5, 2026 Good morning and welcome back to the City PM liveblog. Gilt yields have risen to their highest rate in nearly thirty years, as markets weigh up the prospect of an ousted Keir Starmer and lurch to a more left-wing government that might follow. The yield on 30-year government bonds rose 11 basis points on Tuesday [...]
Kospi nears record 7,000 as Samsung family pay off huge inheritance tax bill May 4, 2026 South Korea’s Kospi breached the 6,900 mark for the first time on Monday, after a record rally in semiconductor stocks and the family behind tech giant Samsung paid off its inheritance tax bill. The index surged 5.1 per cent during Monday trading, closing 6,936.9 points, creeping closer to breaking the 7,000 mark after rallies by [...]
Gilt traders fear Labour electoral losses May 4, 2026 A widespread defeat for Labour in Thursday’s regional elections could trigger a “swing to the left politically” investors have warned, putting further pressure on government borrowing costs that are already at their highest levels since the financial crisis. Polling has suggested Labour is set to lose over 1,000 seats to other parties, including leftwing Green [...]
Trump turmoil sends oil prices back toward multi-year peak May 4, 2026 Iran hits back at president’s ‘Operation Freedom’ pledge for safe passage through the Strait of Hormuz; Brent up over 5 per cent to $114 a barrel The main international oil price surged back toward multi-year highs on Monday, as US President Donald Trump’s pledge to get tanker traffic moving through the Strait of Hormuz was [...]
After Santander’s TSB takeover – who are the top players in UK banking? May 1, 2026 Santander shocked the City last years after beating out its rivals to snap up TSB Bank. Now with the takeover complete, who are the major players in the sector? The near £3bn mega-merger of Santander and TSB has finally reached completion. And with it, Spanish-owned Santander is set to significantly beef up its UK presence [...]
UK manufacturing at four-year high but costs rise at pandemic pace May 1, 2026 The UK manufacturing sector broke to a four-year record in April but the constraints triggered by the Iran war threatened to upend growth prospects. The latest Purchasing Managers Index (PMI) from S&P Global put the industry’s reading at 53.7 – its best since May 2022. This marked its sixth consecutive month above the neutral 50.0 [...]
