Pound slumps as City cuts Bank of England interest rate bets after shock inflation fall July 19, 2023 Pound sterling today has tumbled sharply in response to markets reining in their expectations for further interest rate hikes from the Bank of England. Britain’s currency shed nearly one per cent against the US dollar, its largest fall in months, to buy $1.29. It was down a similar amount against the euro at €1.15. The [...]
FTSE 100 close: London markets rise strongly after June inflation comes in lower than expected July 19, 2023 London markets breathed a sigh of relief on Wednesday after inflation finally came in lower than expected. The bluechip FTSE 100 closed 1.8 per cent higher at 7,588.20 while the midcap FTSE 250 index, which is more aligned with the health of the domestic economy, ended 3.8 per cent higher at 19,322.52. Investors were buoyed [...]
GAM takeover battle erupts after Xavier Niel-backed group launches rival bid to Liontrust July 18, 2023 A takeover battle has erupted over ailing Swiss fund manager GAM today as a consortium backed by telecoms mogul Xavier Niel launched a counter bid to London-listed Liontrust.
FTSE 100 close: Ocado drags London index into black as markets brace for inflation data July 18, 2023 London’s FTSE 100 squeezed out gains today that have pushed it back into the black in 2023, propped up by shares in online grocer Ocado soaring after a decent set of results. The capital’s premier index jumped 0.64 per cent to 7,453.68 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Hargreaves Lansdown chair set to step down after run-ins with founder July 18, 2023 The chair of retail investment platform Hargreaves Lansdown is set to step down after a bruising series of run-ins with the firm’s founder. In a statement yesterday, the Bristol-based DIY investing outfit said last night that it had begun scouting out “successor chair candidates” for Deanna Oppenheimer, who has overseen the firm since 2018. News [...]
FTSE 100 close: Slowing China economy sends London index into red as Barclays and NatWest jump July 17, 2023 London’s FTSE 100 kicked off a fresh week today in downbeat fashion, dragged lower by signs that China’s economic recovery from the pandemic is whittling away. The capital’s premier index shed 0.38 per cent to close at 7,406.43 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
National Audit Office launches probe into FCA as regulator sizes up crypto and AI July 17, 2023 The National Audit Office (NAO) has launched a probe into the functions of the City regulator as its remit swells to take on oversight of technologies like cryptoassets and artificial intelligence.
FTSE 100 firms slash charitable giving as profits rocket July 17, 2023 Britain’s biggest companies have slashed their charitable donations by nearly a quarter over the past decade despite pre-tax profits rocketing in the same period, research has showed.
Pound surges to strongest level since April last year as traders bet on further rate hikes July 14, 2023 The pound has surged to its strongest position in over a year over the past week as traders bet the Bank of England will have to hike rates further and faster than global counterparts. Since the beginning of the month, the pound has risen from below $1.27 to trade at over $1.31. The last time [...]
FTSE 100 close: London’s premier index creeps into the green ahead of crucial inflation print on Wednesday July 14, 2023 London’s premier index closed the week slightly in the green after a quiet day ahead of next week’s crucial inflation print. The FTSE 100 slipped out marginal gains to trade at 7,440.65 while the midcap FTSE 250 index dropped 0.2 per cent to 18,594.73. All eyes will be on UK inflation data next week. Inflation [...]
