The UK’s FTSE 100 index dropped to a 6-week low today as the euro zone debt crisis continues to weigh heavily on investors minds, despite the imminent bailout for Ireland. The index lost 36 points to 5,644.48 by 8:57 am after earlier falling to 5,614.65 - its lowest since the beginning of October. So far [...]
The emergency bailout for Ireland has resulted in political uncertainty after the Green Party (a partner in the Government) called for a general election. The Green Party’s leader, John Gormley, said: “We have now reached a point where the Irish people need political certainty to take them beyond the coming two months. “So, we believe [...]
The FTSE 100 received a boost today after speculation that the US Federal Reserve will provide extra stimulus to strengthen the economy. The news emerged from the Fed’s minutes from the most recent FOMC meeting, which cheered investors. The FTSE closed up 85.76 points, at 5,747.35 - its highest closing level since April 26, and [...]
Directors at FTSE 100 companies continue to see a rise in their salaries despite a fall in their share price. The Total Remuneration Survey 2010, conducted by pay consultancy MM&K and the proxy voting agency Manifest, shows chief execs at the UK’s top 100 listed companies have seen their pay rise 5% since 2008 - [...]
Despite Friday’s general election result, which failed to give any political party a clear majority, sterling has gained on the US dollar today, while London’s FTSE recovered from the sharp falls on Friday. The pound rose by nearly a cent against the dollar to $1.4865 but fell against the euro to 1.1510 euros. The pound [...]
London’s FTSE 100 reached a 16-month high today boosted by strong Chinese export and import figures. The index gained 61.61 points to 5,595.85 just after 9:00am British time today - a level last seen in September 2008. The FTSE hit a low point in March 2009 of 3512 but appears to be making a strong [...]
Despite the doom and gloom in 2009, London’s FTSE added 22% over the course of the year - the biggest annual gain since 1997. Similar gains were seen in Europe with Germany’s Dax gaining 23% and France’s Cac added 22%. The FTSE 100 hit a low point in March 2009 of 3512 but ended 2009 [...]
The FTSE 100 index closed at 5437.61 points yesterday - a level not seen since prior to the collapse of Lehman Brothers in September 2008. However, in March this year, the index hit a 6-year low of 3,461 and despite the recent rally, it is still a long way off the 6,700 mark it reached [...]
London’s FTSE 100 rose to its highest level this year after the price of gold hit a fresh record high today of $1,132.95 an ounce. Increasing demand from emerging markets has been pushing up the price of the precious metal over recent weeks. Furthermore, gold traditionally rises during the October to December period as the [...]
The UK’s FTSE 100 share index fell below the 5,000 mark today due to the overhaul of the UK’s banking sector. At 11:42 am, London’s FTSE 100 index was 111.56 points lower at 4,992.94, dipping below the 5,000 level for the first time since early October. Earlier today, the Treasury confirmed plans for Royal Bank [...]
FTSE 100 chief executives have still received sharp increases in their salaries despite the recession, according to pay analysts, Incomes Data Services (IDS). Over the last 12 months, the top bosses at the top 100 companies saw average salary rises of 7.4% - many times the rate of inflation. However, IDS said bonuses have fallen [...]
The FTSE 100 Index rose to 5231.16 today - a new record for the year to date. London’s FTSE responded to strong gains seen on the Dow Jones Industrial Average last Friday, which hit a 12-month high. Since its low point in March this year, the FTSE 100 Index has risen around 50% with companies [...]
The Bank of England’s Monetary Policy Committee is expected to keep interest rates at the historically low level of 0.5% today. The decision, due at 12pm today, will be the sixth consecutive month that rates have remained at this level. Prior to that, the Bank embarked on aggressive rate cuts in order to boost the [...]
London’s FTSE 100 index closed up 57 points today at 5004.30 - the highest level since 3rd October 2008. Shares across Europe have also performed well, with France’s Cac 40 index gaining 1.3% and Germany’s Dax index rising 1.7%. In the US, the Dow Jones industrial average was up 63.94 points at 9,561.28 in late-morning [...]
Barclays Wealth has relaunched its Regular Income Bond with an increased term of six years. The bond, which is linked to the FTSE 100, was previously offered on a five-year term. Returns on the bond are fixed at 7% annually, or 0.57% per month, irrespective of index performance. A capital guarantee is also included, provided [...]
Positive economic news and hopes of a global recovery boosted the FTSE 100 again today after the index soared to a ten-month high and smashed through the 4,900 mark. The gains followed those seen in Asia earlier today, which were spurred on by Federal Reserve chairman Ben Bernanke’s comments last Friday. Mr Bernanke’s comments came [...]
Sterling and the FTSE 100 index of leading shares both rose today on the back of growing hopes for an economic recovery. The FTSE jumped by 76.85 points to 4,685.21 - the highest level since October with Barclays and HSBC leading the banking sector after reporting first half profits earlier today. Meanwhile, sterling climbed to [...]
Nationwide this week launched a new savings account for customers looking for both short-term and long-term returns. The Guaranteed Combination Plan combines a one-year 4% fixed-rate bond with a six-year equity bond linked to the stock market. The equity bond, provided by Legal & General, tracks the FTSE 100 Index, the DJ EuroSTOXX 50 Index, [...]
Alliance & Leicester has launched two new guaranteed investment products. Both the Guaranteed Growth Plan (Issue 20) and the Guaranteed Capital Plus (Issue 7) come with a capital guarantee and a minimum return if held for the full term. The products are available until 18 March 2009, and have a minimum investment of £1,500. The [...]
The FTSE 100 Index is in danger of falling below the 4,000 mark as banking shares continue to fall as a wave of bad news continues to hit the UK economy. Shares in Barclays took another pounding today. At one point, the stock was down 33% to 48p - the lowest level since 1985. However, [...]
Basic bank account standards at risk
Consumer Focus, the statutory consumer champion, is calling for a minimum standard for basic bank accounts to be introduced, to ensure the survival of the product. Basic bank accounts are used by people who are unable to open a regular current account, perhaps because of a poor credit history. It is estimated that they are [...]
A year has passed since the government replaced Child Trust Funds with Junior ISAs (JISAs) but more than half of parents are unaware that they exist, according to research by friendly society Family Investments Children born between 1 September 2002 and 2 January 2011 were eligible to open a Child Trust Fund and to receive [...]
PPI costs increase for Lloyds and Barclays
Lloyds Banking Group has set aside a further £1 billion to cover compensation costs for customers who were mis-sold Payment Protection Insurance (PPI). Yesterday, Barclays revealed £700m of PPI costs in the 2012 third quarter increasing its total provision to £2bn. Lloyds Banking Group, which has made the largest PPI provision out of all the [...]
Bonfire Night worst day for burglaries warns Aviva
Insurance group Aviva is warning households to be vigilant over security at this time of the year, as burglaries tend to increase signficantly between Halloween and Bonfire Night. On Bonfire Night the number of burglaries increases by around 25 per cent compared with an average day, according to the company’s research. Aviva also reported a [...]
Consumer confidence hits six-month low
Although the UK has officially emerged from recession, consumer confidence fell to -30 in October from -28 in September, according to market researcher company GfK NOP. This is the lowest level of consumer confidence since April when the UK was in an economic slump. Analysts had expected the index to remain stable at -28. Respondents [...]
100,000 mortgage holders escape negative equity trap
New figures from the Council of Mortgage Lenders (CML) reveal that the number of borrowers in negative equity fell 13 per cent to 719,000 between the first quarter of 2011 and the first quarter of 2012. The number of borrowers paying a mortgage greater than the value of their property fell despite a further small [...]
Banking commission appoints counsel to cross-examine witnesses
The Parliamentary Commission on Banking Standards has appointed counsel to cross-examine witnesses during its inquiry into the collapse of Halifax Bank of Scotland. Barrister David Quest has been appointed to question witnesses in a public evidence session, as part of a sub-committee panel inquiry into the bank. Andrew Tyrie, chairman of the Commission said: “This [...]
Mortgage approvals increased in September
An increase in the number of mortgage approvals in September suggests that the ‘Funding for Lending’ scheme, launched by the Treasury and the Bank of England, may be starting to give the property market a boost. According to Bank of England figures, the number of loans approved for house purchase increased by 2,103 to 50,024 [...]
Five million paid less than living wage
Five million people in the UK are paid less than the ‘living wage’ of £7.20, or £8.30 in London, according to a new report by KPMG. In Northern Ireland, 24 per cent of workers receive less than they require in order to pay for essentials and the situation is little better in Wales where 23 [...]
Commission calls for radical change in housing market
A new study by the Future Homes Commission suggests that the way homes are built in the UK is dysfunctional and needs a radical overhaul. The organisation, which was established by the Royal Institute of British Architects, believes that 300,000 extra homes could be built every year without any input from Government funding. Instead, the [...]
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