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Economic news

London close: Ebola and downbeat Chinese housing data weigh on markets

London close: Ebola and downbeat Chinese housing data weigh on markets

Fri, 24 October 2014

London shares ended Friday on a negative note amid fresh jitters about the Ebola virus and weak Chinese property data. The FTSE 100 Index closed 30.42 points adrift at 6388.73 as a New York doctor who... [more]

Draghi calls for stimulus and says joint effort needed to avoid 'recession'

Draghi calls for stimulus and says joint effort needed to avoid 'recession'

Fri, 24 October 2014

Mario Draghi, the European Central Bank's (ECB) president has warned leaders from the European Union that a "joint effort" is required to avoid a "relapse into recession." The Eurozone countries with ... [more]

US new home sales edged higher to 467,000 in September

US new home sales edged higher to 467,000 in September

Fri, 24 October 2014

US new home sales edged higher by 0.2% month-on-month in September to reach an annualised rate of 467,000, according to the Department of Commerce. The consensus forecast had been for 470,000. Septem... [more]

UK GDP growth slows to 0.7% in third quarter, as expected - UPDATE

UK GDP growth slows to 0.7% in third quarter, as expected - UPDATE

Fri, 24 October 2014

UK gross domestic product (GDP) expanded at a 3% year-on-year pace over the three months to the end of September, led by industrial output, although it slowed from the 3.2% clip registered in the prev... [more]

UK mortgage approvals drop to 14-month low in September, says BBA

UK mortgage approvals drop to 14-month low in September, says BBA

Thu, 23 October 2014

UK home loan approvals sank for the third month in a row to a 14-month low in September, according to data out on Thursday. Approvals dropped 10% to 39,271 against a year ago and by 19% from January's... [more]

UK retail sales slow in September, ONS says

Thu, 23 October 2014

UK retail sales fell 0.3% last month against August, although they still racked up their 18th month in a row of year-on-year growth, official data showed. Month-on-month sales fell 0.3% but year-on-ye... [more]

Bonds: Divide between markets and economists on Bank Rate grows wider

Thu, 23 October 2014

The divergence between market pricing for the date of the first increase in Bank Rate and estimates from some economists grew wider on Thursday after the release of the minutes of the Monetary Policy ... [more]

Supermarkets face dismal Christmas unless they shape up, says Begbies Traynor

Wed, 22 October 2014

The UK's big supermarkets are facing a miserable Christmas and potential financial problems unless they sort out issues stopping them fighting off competition from discounters, insolvency experts Begb... [more]

MPC minutes emphasise lack of inflationary pressures

Wed, 22 October 2014

As anticipated by economists, the minutes of the 7 to 8 October meeting of the Monetary Policy Committee (MPC) revealed that the decision to maintain Bank Rate and the current size of the Bank's bond ... [more]

London close: Upbeat global economic data lifts London markets

Tue, 21 October 2014

Reports that the ECB might expand its programme of asset purchases to include corporate bonds helped London traders to shrug off dismal UK borrowing figures on Tuesday. The FTSE 100 Index closed 105.... [more]

Tesco market share falls again but decline slows, Kantar Worldpanel says

Tue, 21 October 2014

Beleaguered supermarket group Tesco's market share fell again in the last three months, although it is showing signs of improvement, according to industry figures on Tuesday. Its market share fell 3.6... [more]

UK government borrowing rose last month - UPDATE

Tue, 21 October 2014

UK government borrowing rose last month and in the year to date, casting doubt over government efforts to hit its 2014/15 targets, official figures showed on Monday. Public sector net borrowing exclud... [more]

RTGS glitch fixed, BoE confirms

Mon, 20 October 2014

The Bank of England has confirmed it is now processing payments through its Real Time Gross Settlement Payment System (RTGS) as normal. The bank's RTGS system was stopped early on Monday morning after... [more]

Warm weather hits UK shopper numbers in September, BRC says

Mon, 20 October 2014

Shopper numbers fell last month against a year ago as the unusually warm autumn weather kept people out of shopping centres. Numbers dropped 0.9% in September versus the same month last year, although... [more]

UK mortgage lending slowed in September, says CML

Mon, 20 October 2014

British mortgage lending dropped last month amid global economic woe and uncertainty over interest rate hikes, data showed on Monday. Gross mortgage lending reached £17.8bn in September, 1% lower than... [more]

Soaring London prices push buyers outside to South East

Mon, 20 October 2014

The South East overtook London as the country's fastest rising market, according to online property tracker Rightmove, as the average UK house price rose by 2.6% month-on-month in October, to reach £2... [more]

BoE economist Andy Haldane 'gloomier' about the UK economy

Fri, 17 October 2014

The chief economist at the Bank of England has turned "gloomier" about the UK economy and said that interest rates could remain at their record-low level of 0.5% for a little while longer. Speaking at... [more]

PRA exec Andrew Bailey slams EU cap on bankers' bonus

Fri, 17 October 2014

The EU cap on bankers' bonuses has been slammed by critics. It was labelled "the wrong policy" and "misguided" by the Bank of England's (BoE) deputy governor, Andrew Bailey, on Thursday night. The day... [more]

US Philly Fed index comes in slightly ahead of forecasts

Thu, 16 October 2014

Manufacturing conditions in the north-eastern US cooled a tad in October, according to a monthly gauge on activity crafted by the Federal Reserve bank of Philadelphia. The headline index derived from ... [more]

Initial weekly US jobless claims drop to lowest since April 2000

Thu, 16 October 2014

Initial weekly US jobless claims dropped by 23,000 over the seven days ending on 11 October, according to the Department of Labor. That was the lowest tally since April 2000. The consensus forecast ... [more]

Entu seeks AIM flotation after completing pre-IPO placing

Thu, 16 October 2014

Energy efficiency firm Entu has announced its intentions to float on the AIM section of the London Stock Exchange after a private placing raised £32.8m. The initial public offering should value the co... [more]

MPC should focus on wage dynamics, not falling inflation, Weale says

Wed, 15 October 2014

The Monetary Policy Committee (MPC) should not draw too much comfort from the fall in consumer price inflation, as it has been 'significantly depressed' by the appreciation of the pound and the declin... [more]

UK unemployment rate unexpectedly drops to 6%

Wed, 15 October 2014

The UK's unemployment rate dropped to 6% in the three months to August, the lowest since October 2008, according to the Office for National Statistics (ONS). Consensus had been expecting a smaller dro... [more]

WHO predicts 10,000 new Ebola cases per week by December

Tue, 14 October 2014

By December the World Health Organisation anticipates seeing 5,000 to 10,000 Ebola cases per week in Guinea, Liberia and Sierra Leone. Dr Bruce Aylward of the WHO said that the rate of cases was slowi... [more]

UK house prices continued to rise in August

Tue, 14 October 2014

British house prices continued to rise in August despite a recent slowdown in activity. Prices increased by 0.5% in August after a jump of 1.6% in July, but the annual pace of house-price growth remai... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Shire Plc 4,050.00 3.98 17:14
Vodafone Group 200.50 1.85 17:14
Standard Chartered 1,115.00 1.46 17:02
Old Mutual 184.70 0.65 17:08
3i Group 379.60 0.56 17:00

FTSE 100 Top Fallers

Name Last Chg.% Time
Pearson 1,139.00 -2.57 17:02
G4S 251.00 -2.41 17:02
Anglo American 1,308.00 -2.39 17:08
Tullow Oil 494.60 -2.16 17:02
InterContinental Hotels Group 2,217.00 -1.90 17:08