uk-economy
BankingFTSE 100 Rises on Energy Boost; US Election in Focus
TradingSterling Extends Bounce Off Recent Lows as U.S. Election in Focus
FinanceAsset Manager Vanguard Buys Gilts After Budget-Driven Sell-Off
InvestingFTSE 100 Rebounds as Reckitt and Oil Stocks Offset Budget Concerns
UK Year-Ahead Public Inflation Expectations Rise to 3.3% in Oct, Citi/YouGov Survey Shows
Date: November 1, 2024
LONDON (Reuters) – British households’ expectations for inflation over the next 12 months rose again in October, adding to the likelihood that the Bank of England will only cut interest rates once a quarter, a monthly survey from Citi and YouGov showed on Friday. The survey showed expectations for inflation in a year’s time rose...
Pound Set for Worst Weekly Losses Since 2018 After Budget Jolt
Date: November 1, 2024
LONDON (Reuters) – The pound stabilised on Friday after a volatile few sessions, but still headed for its longest stretch of weekly losses in nearly six years, as political and monetary uncertainty has prompted investors to favour the dollar lately. UK finance minister Rachel Reeves this week delivered her first budget since the Labour party...
UK Factory Activity Shrinks Slightly for First Time Since April, PMI Shows
Date: November 1, 2024
By David Milliken LONDON (Reuters) – British factory activity contracted very slightly last month for the first time since April, pushed lower by fewer new orders and a broader lack of optimism in the run-up to the Labour government’s first budget, a major survey showed on Friday. The S&P Global UK Manufacturing Purchasing Managers’ Index...
Normal for Markets to Respond to Budget Plans, Minister Says
Date: November 1, 2024
LONDON (Reuters) – The recent volatility in British financial markets, including a rise in government bond yields and a fall in the value of the pound following the new government’s first budget on Wednesday, was not unusual, Treasury minister Darren Jones said. “Markets always respond to budgets in the normal way,” he told Sky News...
New UK Debt Chief Sees Ready Appetite for More Bond Issuance
Date: October 31, 2024
By David Milliken LONDON (Reuters) -Britain’s government bond market is well placed to absorb the higher debt issuance needed to fund the new Labour government’s budget plans, the head of the country’s debt agency told Reuters on Wednesday. The UK Debt Management Office revised up its gilt issuance plans for this financial year by 19.2...
FTSE Indexes Slide to Near Three-Month Lows on Budget Angst
Date: October 31, 2024
By Shubham Batra and Sruthi Shankar (Reuters) -The UK’s main stock indexes fell to a near three-month low on Thursday as investors scaled back bets of rate cuts from the Bank of England (BoE) following Britain’s new big-spending budget plans which has revived worries about inflation. The blue-chip FTSE 100 dropped 0.6%, while the domestically...