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The bank reveals two stocks to buy and gives both around 20% upside potential. Retail sales increased by 2.7% in September, up from 2.2% growth the previous year but below the 12-month average growth of 4.2%, according to figures from the British Retail Consortium. Chinese real estate developer Country Garden Holdings said it expects it will not be able to make all of its offshore repayments, including vantage fx forex broker review those issued in U.S. dollar notes. The International Monetary Fund on Tuesday raised its U.S. growth projection for this year by 0.3 percentage points compared with its July update, to 2.1%. “The fall in pipeline pressure was quite fast, which would indicate it’s not a minor breach. But the cause of it remains unclear,” a Baltic energy official with knowledge of the situation told Reuters.

Reports that China is looking to increase its budget deficit for 2023, as part of a new round of stimulus to help the economy, are lifting shares. The Stoxx 600 index, which tracks companies across Europe, is up 1.5% this afternoon, which would be the best day since 14 September. NATO secretary general Jens Stoltenberg has said his alliance is sharing information about the damage to the Balticconnector pipeline, and a telecoms cable connecting Finland and Estonia too. Revenues at the British company behind the racing team jumped by 24% to £475m in 2022, with pre-tax profits rising to £113m from nearly £72m the year before. Recent interest rate increases, and the easing of supply chain bottlenecks, could also cool inflation.

Finland’s president: gas pipeline damage probably caused by external activity

This raised hopes in the market that the Fed might not need to lift rates any higher, particularly if higher bond yields were already threatening to act as an anchor on economic activity. Wall Street ended the session on a bright note, setting the tone for a more prosperous day across admiral markets forex broker review global markets on Tuesday. It contains the top 100 UK companies and is tracked by traders and investors from around the globe. Not only does the FTSE give an excellent overview into the state of the UK markets but it can also provides good returns for many funds which track the index.

Marsh, 49, sat side by side with three other co-accused in the dock at Westminster Magistrates’ Court, including his wife Louise Marsh, an accountant. Four people, including a former director, appeared in court on Tuesday accused of fraud relating to the collapse of cafe chain Patisserie Valerie, my colleague Tom beaxy cryptocurrency exchange review Ambrose reports. Sentiment among small business owners was hit by continued concerns over inflation and persistent worker shortages, according to the National Federation of Independent Business (NFIB). And there’s a recovery in the bond market, with the yield on US Treasuries falling sharply in early trading.

  • The strikes are the latest in a series of industrial action, in a dispute over pay and union rights.
  • Treasury bond yields have dropped away from the 16-year highs set last week, after US central bank officials hinted that the Federal Reserve might not to raise interest rates much higher.
  • However, it still means food prices are rising faster than average wages (+8.5%), and by over five times the Bank of England’s 2% target for overall consumer price inflation.
  • The price of UK gas for delivery next month is up almost 10% at 119.6p per therm, the highest since June.

No financial responsiblity with be taken for any losses incurred by your own trading behaviour. The comments of members are their own personal opinions and should be taken as such. We may be compensated by companies where we refer you via the advertising on this site. “Triggering the U-turn in the market mood were comments on Monday from Fed Vice Chair Philip Jefferson who implied the US central bank needed to ‘proceed carefully’ with any further rate hikes.

FTSE 100 Index

For the first time in at least six years, there are no black executives holding top positions at FTSE 100 companies, said staffing firm Green Park. Patisserie Valerie abruptly stopped trading in October 2018 after allegedly discovering financial irregularities, which led to the immediate closure of 70 stores, followed by the loss of 900 jobs across the country. Christopher Marsh, a former director and chief financial officer, faces a charge of conspiracy to defraud after the chain fell into administration with a £94m black hole in its accounts in 2019.

European markets close sharply higher despite global fears over Middle East conflict

In order to be included in the FTSE 100, a share must fulfill certain criteria. For example, the shares must show adequate market capitalization, must be listed in pounds sterling or euros on the London Stock Exchange, and must fulfill additional criteria relating to free float and liquidity. The composition of the FTSE 100 and the weighting of the shares included in it are reviewed twice annually and adjusted when necessary. Global shares and risk assets rose on Thursday after the Federal Reserve adopted a more hawkish stance on policy. To hide/show event marks, right click anywhere on the chart, and select “Hide Marks On Bars”.

FTSE 100 Futures Streaming Chart

The IMF is monitoring the situation very carefully in terms of economic impact it could have on the region, and beyond, he says. And that is going to require monetary policy to remain tight for a little while longer, into next year. While in the UK, the FPC warns that household finances remain under pressure, and the full impact of higher interest rates has not yet passed through to all borrowers. The price of UK gas for delivery next month is up almost 10% at 119.6p per therm, the highest since June. Ocado (+6.5%) is leading the charge, with mining companies, banks and property developers also in the top risers. The FTSE 100 index of blue-chip shares is up by 123 points, or 1.6%, at 7615 points, its highest level in over a week.

Global stocks slide as Chinese data signals slowing economic growth and Delta concerns persist

“Sales growth in September slowed as the high cost of living continues to bear down on households,” said Helen Dickinson, chief executive officer of the BRC. All sectors were in the green, and some of the top climbers are those that suffered on Monday, including travel and leisure. Investors were also digesting dovish comments from Federal Reserve officials which appeared to trigger a pullback in U.S. interest rate expectations.

Bond prices have strengthened, pulling down bond yields, with US Treasuries in demand in a dash for safe-haven assets. European stock markets have rallied, lifted by hopes that the US Federal Reserve may be close to ending its cycle of interest rate increases. The conflict between Israel and Hamas may not have a direct impact on oil supply, but it’s likely to drive up oil prices in the short term just based on fears of a wider escalation, according to analysts. Markets are pricing in an 86% likelihood on Monday that the Federal Reserve will hold rates steady at next month’s policy meeting. Austrian central bank governor, Robert Holzmann, says the European Central Bank could implement one or two more interest rate increases if there are “additional shocks” to the economy. Asia-Pacific markets were mixed while U.S. stocks were modestly higher after gains in yesterday’s session.

Fears of further increases triggered a rout in bond prices last week, sending yields to 16-year highs. The decline in [UK] growth reflects tighter monetary policies to curb still-high inflation and lingering impacts of the terms-of-trade shock from high energy prices. Treasury bond yields have dropped away from the 16-year highs set last week, after US central bank officials hinted that the Federal Reserve might not to raise interest rates much higher. It is likely that the damage to both the gas pipeline and the data cable is caused by external activity. An underwater gas and communications pipeline between Finland and Estonia has been damaged, which the Finnish government has attributed to “external activity,” according to an official statement. Stretched risky asset valuations increase the likelihood of a greater correction in prices if downside risks to growth materialise.

And we are also seeing an El Niño event this year, which echoes a similar event in the early 1970s that put upward pressure on food prices. Inflation remains above target across the major economies; we have witnessed severe spikes in energy prices over recent years; and there’s been growing industrial unrest. Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Yesterday, European government bonds recovered some ground, after the recent selloff which attracted comparisons with the run-up to the stock market crash of 1987. That’s the lowest level since July 2022, and the seventh monthly decline in a row, since grocery inflation peaked at a record 17.5% in March. After Threadneedle Street’s decision to pause raising rates at the September meeting of its monetary policy committee, the IMF now believes the peak will be 5.25% or 5.5%.

Jamie Cox, financial planner at Harris Financial Group, believes international stocks will outperform U.S. stocks in the coming decade as rising rates and inflation change market dynamics. Yesterday, Dallas Fed president Lorie Logan said on Monday that the recent rise in long-term U.S. Treasury yields, and tighter financial conditions more generally, could mean less need for the Federal Reserve to raise interest rates further.

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