UBS number-crunchers predict pound to hit recent high against the dollar May 27, 2023 UBS wonks believe the pound could be trading as high as 1.30 against the US dollar by the end of the year, as the currency continues to recover from Liz Truss and Kwasi Kwarteng’s mini-budget last year. The pound currently trades at 1.23 against the dollar, a far cry from the 2:1 days of yore. [...]
FTSE 100 close: A stable end to a miserable week May 26, 2023 London’s FTSE 100 showed tentative signs of recovery on Friday, after a turbulent week that saw numbers from the Office for National Statistics reveal far higher levels of inflation, all but sealing further interest rate hikes. The blue-chip index started higher before settling in flat, and then closing at 7,627, up 0.74 per cent, helping [...]
FTSE 100 close: London index extends losses as pound slides and bond yields soar May 25, 2023 London’s FTSE 100 continued yesterday’s wobble today driven by investors fretting over how high the Bank of England will have to send interest rates to tame sticky inflation. The capital’s premier index slipped 0.74 per cent to 7,570.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Monzo founder Blomfield fires parting shot at London as he packs bags for San Francisco May 25, 2023 Monzo founder Tom Blomfield has warned there are no quick fixes for London’s "very real" listings problem, in a parting blow to the capital as he packs his bags for the US.
Blackrock shrugs off climate activists at shareholder meeting May 24, 2023 The world’s biggest fund manager Blackrock has comfortably seen off a potential rebellion over its environmental, social and governance (ESG) policies today as the firm looks to take a passive role on climate issues.
FTSE 100 close: Bank of England rate fears after inflation overshoot send house builders tumbling May 24, 2023 London’s FTSE 100 tanked today amid a sell off in companies that are poised to come under pressure from the Bank of England continuing to hike interest rates to tame inflation. The capital’s premier index slid 1.75 per cent to 7,615.22 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
London-listed firms face tougher fraud rules as watchdog prepares clampdown May 24, 2023 The bosses of London-listed firms are facing tougher scrutiny on fraud and financial reporting from 2025 after Britain's corporate governance watchdog proposed a slew of reforms today.
Bank of England to hike interest rates to 5.5 per cent to tame scorching inflation May 24, 2023 The Bank of England will have to hike interest rates to a peak of 5.5 per cent to tame steaming inflation, threatening to push the UK economy back to the edge of recession, markets bet today after fresh numbers showed price pressures are withstanding rate rises. Upward moves in financial markets’ expectations for peak UK [...]
FTSE 100: Sticky inflation figures spook markets as investors brace for rate hike pain May 24, 2023 London’s flagship index tumbled in early trading this morning as investors took fright at sticky inflation figures that could trigger further interest rate hikes this year.
FTSE 100 close: Stress over US debt ceiling talks drag London index as IMF ditches UK recession forecast May 23, 2023 London’s FTSE 100 nipped lower today as investors zeroed in on the latest developments in talks between Republicans and Democrats about raising the debt ceiling. The capital’s premier index slipped 0.1 per cent to 7,762.96 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped [...]