Most equities markets in Europe were higher Monday on the possibility that the US Federal Reserve could soon propose new stimulus measures. The FTSE 100 was up 1.08 percent to 5,095.3 in London, while the FTSE 250 added 0.98 percent to 9,854.78 as miners were mostly higher as gold and silver prices were higher and [...]
Equities markets in Europe were lower again Friday after the Philadelphia Federal Reserve reported that its general economic index dropped significantly, from a reading of 3.2 in July to minus 30.7 this month, showing a steep contraction in the region, while recent figures also showed that Germany’s economy grew at a slower rate than forecast [...]
European equities markets were significantly lower Thursday on dissent within the US Federal Reserve over monetary policy among officials, while markets were also hurt by new numbers from the US Labor Department showing that first-time unemployment claims were up by 9,000 to 408.000 last week, more of an increase than had been forecast. Two officials [...]
European equities markets were mixed Wednesday, with the FTSE 100 down 0.49 percent to 5,331.6 in London, while the FTSE 250 dropped 0.42 percent to 10,369.4, while the Dax was also lower but the CAC-40 and the IBEX both saw gains. Most miners were higher in London, with Aquarius Platinum (LSE: AQP) leading the sector’s [...]
European equities markets were higher Friday after France, Spain, Italy and Belgium all banned short-sales, in which borrowed assets are sold with the intention of the borrower buying back the assets later to return them to the lender, with the seller hoping the price of the assets will drop between the sale and repurchase so [...]
European equities markets were higher Thursday as investors felt that economic growth has not slowed down as much as recently estimated. The FTSE 100 was up 3.11 percent to 5,162.83 in London, while the FTSE 250 added 2.52 percent to 10,139.83 as all but one miner saw gains on higher metals prices, although Randgold Resources [...]
European equities markets were substantially lower Wednesday on concerns that the debt crisis there is spreading and on skepticism that moves by the US Federal Reserve will keep the US economic recovery from slowing. The FTSE 100 was down 3.05 percent to 5,007.16 in London, while the FTSE 250 dropped 1.98 percent to 9,890.96 as [...]
European equities markets were mostly higher Tuesday after seven days of declines as investors hoped that the US Federal Reserve would take action at a meeting scheduled for today to aid the economy and restore confidence in the markets after last week’s downgrade of US credit by Standard & Poor’s and its follow-up in downgrading [...]
European equities markets were significantly lower again Monday after Standard & Poor’s downgraded US credit from AAA to AA plus on Friday evening and reiterated the US outlook as “negative”, citing suspicions that Congress will not reverse Bush-era tax cuts or adjust entitlements as ways of bring down US debt. The FTSE Eurofirst 300 was [...]
European equities markets were down again Friday even though the US Labor Department reported that the economy there added 117,000 new jobs in July, cutting the US unemployment rate to 9.1 percent. The FTSE 100 was down 2.71 percent to 5,246.99 in London, while the FTSE 250 dropped 2.44 percent to 10,313.1. All banks were [...]
Equities markets were significantly lower in Europe Thursday on expanding concerns that the economic recovery is slowing globally. The Bank of England and the European Central Bank both held interest rates steady, at 0.5 percent and 1.5 percent respectively, while ECB President Jean-Claude Trichet said that the ECB has started buying bonds again. The FTSE [...]
European equities markets were down again Wednesday after the Institute for Supply Management’s non-manufacturing index was at 52.7 in July, against an expected rise to 53.5 after being at 53.3 in June, and after both Moody’s Investors Service and Fitch Ratings warned that the US credit rating could still be downgraded if lawmakers do not [...]
European equities markets were lower Tuesday on fears that growth in the US economy is slowing and will hurt the global economy after the Commerce Department reported that consumer spending was down by 0.2 percent in June, the first decline in nearly two years. The FTSE 100 was 0.97 percent lower to 5,718.39 in London, [...]
European equities markets were lower Monday despite news that US lawmakers have reached a deal regarding raising the US debt ceiling, as the Institute for Supply Management said its US factory index was at 50.9 in July, from 55.3 in June, close to the level indicating contraction rather than expansion of factory activity. The ISM’s [...]
European equities markets were lower Friday after a vote on a Republican proposal toward raising the US debt ceiling was postponed Thursday in the House of Representatives, making it more likely that a plan will not be put in place by a deadline next week, while the US Commerce Department reported that the US gross [...]
European equities markets were mixed Thursday as companies in various sectors turned in disappointing quarterly reports and on concerns that legislators in the United States still has not come to an agreement regarding raising the debt ceiling. The FTSE 100 was 0.28 percent higher to 5,873.21 in London, while the FTSE 250 dropped 0.3 percent [...]
Equities markets were lower in Europe Wednesday as investors continued to worry about the ongoing controversy in the United States regarding the debt ceiling there, while a drop in US durable goods orders in June over may also caused concerns. The FTSE 100 was down 1.23 percent to 5,856.58 in London, while the FTSE 250 [...]
European equities markets were mixed Tuesday as some individual stocks declined on missed analyst estimates, and on growing concern that US legislators will not come to an agreement on raising the debt ceiling there, risking a default by the United States on its debt. The FTSE 100 saw gains, but was only up 0.08 percent [...]
Banks were the biggest decliners as European equities markets were mostly lower Monday after Moody’s Investors Service again downgraded Greece’s credit rating, this time by three notches to Caa1 just a few days after Fitch Ratings declared Greece to be in “restricted default”, and on the inability of US legislators to come to an agreement [...]
European markets were higher Friday after the European Union agreed on Thursday to a new plan to help debt-plagued Greece. The FTSE 100 was up 0.6 percent to 5,935.02 in London, while the FTSE 250 added 0.97 percent to 11,820.3 as most primarily saw gains but most homebuilders were lower. The travel and leisure sector, [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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