What impact is “greenflation” having on commodities? March 24, 2022 | City Talk Under-investment in the supply of commodities across energy, metals and agriculture, as a result of policies to mitigate climate change, is limiting supply growth and driving prices higher. Commodities outperformed bonds and equities for the first time in almost a decade in 2021. Even before the Russian invasion of Ukraine, these trends looked set to [...]
London’s top indexes struggle for direction on tame day in City March 24, 2022 London’s top indexes struggled to squeeze out any gains today on a tame day of trading in the City. The capital’s premier FTSE 100 index edged 0.09 per cent higher to 7,467.38 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.52 per cent [...]
Apollo lines up banks for £6bn Boots bid as takeover race whittles down March 24, 2022 US investment giant Apollo has become a major frontrunner in the bidding race for the UK’s biggest high street chemist, as it lines up banks to finance a £6bn takeover offer for Boots. The New York-based firm is in talks with Bank of America, Credit Suisse and Royal Bank of Canada to support the bid, [...]
Moscow Stock Exchange reopens for first time in nearly a month March 24, 2022 The Moscow Stock Exchange partially reopened today after trading in shares was frozen for more than three weeks as authorities tried to avoid a collapse in Russian equity prices. Shares actually rose after trading resumed, with Moscow’s benchmark index closing up over four per cent. The index is still down around 30 per cent over [...]
Home buyers face stamp duty of up to 881 per cent higher after Covid-inspired tax holiday March 24, 2022 Since the pandemic-inspired stamp duty holiday came to an end, the amount of SD the average homebuyer in England is now required to pay is 84 per cent higher than it was before the tax break was introduced, and some areas have seen this cost increase by as much as 881 per cent, according to [...]
Spring statement: Record fall in living standards under current parliament March 24, 2022 UK living standards will fall quicker over the course of this parliament than any other since records began, reveals fresh analysis released in the wake of chancellor Rishi Sunak’s spring statement. The typical non-retired household is forecasted to be two per cent worse off by the time of the next election in 2024, according to [...]
Cost of living squeeze already biting UK economy as experts warn worst is still to come March 24, 2022 The damage the cost of living squeeze is inflicting on UK households is already starting to weigh on the economy as top forecasters warn the worst effects of spiralling living standards are yet to come. A fresh flurry of data released today revealed consumers are slashing spending to alleviate pressure on their finances caused by [...]
Sunak’s decision to hike national insurance while cutting income tax is ‘indefensible’ March 24, 2022 Top economic forecasters today slammed Chancellor Rishi Sunak’s decision to push ahead with the national insurance tax hike while cutting the basic rate of income tax as “indefensible”. All of the windfall households will receive from lower income tax bills will be offset by fiscal drag and a 1.25 percentage point national insurance uplift and [...]
1 Minute Market Rundown – 24th March 2022 March 24, 2022 | City Talk Russia – UkraineYields in focusCrypto consolidates Rates markets continue to dominate proceedings with yields continuing to push higher but risk is holding in rather well. Looking across equities and crypto it feels like the dips are getting shallower and we are putting in higher lows. We have been saying crypto has been quietly bid and [...]
Kremlin shock admission as Putin spokesman Peskov says Russia has ‘not achieved anything yet’ in Ukraine March 24, 2022 Kremlin spokesman Dmitry Peskov has denied that Russia’s invasion of Ukraine has stalled. However, asked on CNN what Russian President Vladimir Putin has achieved in Ukraine, he said: “Well, first of all not yet. He hasn’t achieved anything yet.” But he insisted the military operation was going “strictly in accordance with the plans and purposes [...]
