Tag: market

Persimmon encouraged by improved sales

Persimmon encouraged by improved sales

Persimmon, which is the UK’s largest housebuilder by market value, has today said it is encouraged by improved sales and a “modest improvement” in lending. It said it expects to market to pick up over the latter half of 2011 and expects prices to rise over the year. The company said it completed 4,439 homes [...]

July 5, 2011 | 0 Comments More
Halifax reports 1.3% fall in house prices in December

Halifax reports 1.3% fall in house prices in December

The Halifax has today revealed UK house prices fell by 1.3% last month compared with November. The latest house price fall takes the average cost of a UK home to £162,435, the Halifax said. According to the lender, which is part of the Lloyds Banking Group, house prices are now 1.6% lower than a year [...]

January 10, 2011 | 0 Comments More
BoE: Mortgage approvals continue downward trend

BoE: Mortgage approvals continue downward trend

The Bank of England has today revealed mortgage approvals fell again in October - to an eight-month low. According to the Bank, there were 47,185 loans approved in the month – the lowest level since February, albeit in line with expectations of 47,000. The figure is less than half the level reached at the height [...]

November 29, 2010 | 0 Comments More
People’s Bank of China surprises with interest rate rise

People’s Bank of China surprises with interest rate rise

The People’s Bank of China has today surprised markets after hiking interest rates - the first such move since 2007. The Bank has increased the one-year yuan lending rate from 5.31% to 5.56%, and the one-year yuan deposit rate to 2.5% from 2.25%. The move comes in a bid to fight stubborn inflation, as well [...]

October 19, 2010 | 0 Comments More
Equity release market primed for recovery

Equity release market primed for recovery

New data from Safe Home Income Plans (SHIP) suggest that the equity release market could be turning a corner. In the second quarter of 2010, the value of advances slipped to £196.7 million but the decline was smaller than in the previous three month period. Drawdown equity release proved to be the most popular course, [...]

July 25, 2010 | 1 Comment More
Repossessions fall to two-year low

Repossessions fall to two-year low

The number of homeowners who saw their properties repossessed by lenders fell to a two-year low in the first three months of 2010. New data from the Financial Services Authority put the total the number of repossessions at 10,500, down 11% on the final quarter of 2009. In addition, new mortgage arrears declined by 2%, [...]

June 23, 2010 | 0 Comments More
BAA: Passenger numbers down due to BA strike

BAA: Passenger numbers down due to BA strike

BAA has today reported a fall in passenger numbers at its six British airports, due to seven days of strikes by British Airways (BA) cabin crew. BAA said passenger traffic fell 1.5% year-on-year in March and lost a total of 200,000 passengers at its UK airports because of the industrial action. Heathrow airport saw 180,000 [...]

April 12, 2010 | 0 Comments More
Wal-Mart results lower than expectations

Wal-Mart results lower than expectations

Fears over US consumer spending were raised today after retailing giant Wal-Mart reported weaker than expected sales. The company, which is the world’s largest retailer, reported a 22% rise in its fiscal fourth-quarter profit, but sales at stores open at least 12 months disappointed the market. Quarterly sales fell to $113.65 billion - slightly below [...]

February 18, 2010 | 0 Comments More
M&S sales growth slightly below expectations

M&S sales growth slightly below expectations

British retailing giant, Marks and Spencer (M&S), has today reported its first sales growth in over two years. The 125-year-old retailer which sells clothes, food and homewares, said like-for-like sales grew 0.8% in the three months to 26 December compared with the same period a year earlier. However, the increase was below market expectations of [...]

January 6, 2010 | 1 Comment More
Dell announces 54% fall in quarterly profit

Dell announces 54% fall in quarterly profit

US computer giant Dell today posted a 54% fall in quarterly profit. Net profit at the company was $337 million (£202 million) in the three months to October, compared with $727 million in the same period a year earlier. The news sent shares in the company down 6% as the company continues to lose market [...]

November 20, 2009 | 0 Comments More
Platform withdraws UK’s last self-cert mortgage

Platform withdraws UK’s last self-cert mortgage

November 7, 2009 | 1 Comment More
Abbey captures one-fifth of UK mortgage market

Abbey captures one-fifth of UK mortgage market

Abbey has captured 20.5% of the UK mortgage market. The share is up from 16.3% of gross mortgage lending during the six months to the end of June 2009. Impressively, the bank’s prudent approach to lending meant that arrears of three months or more stood at 1.34% in the third quarter of the year, compared [...]

October 29, 2009 | 0 Comments More
Morrisons market share rises, profits up

Morrisons market share rises, profits up

Supermarket giant, Morrisons, has announced a 22% rise underlying pre-tax profits to £359 million in the six months to August 2, up from £259 million last year. The UK’s fourth largest supermarket chain said it is benefiting during the economic downturn as new customers are attracted by its prices. According to the chain, it has [...]

September 10, 2009 | 0 Comments More
KPMG/REC jobs report reveals positive news for the UK jobs market

KPMG/REC jobs report reveals positive news for the UK jobs market

According to the Recruitment and Employment Confederation and KPMG Report on Jobs, there is some good news for the UK jobs market . The index for firms’ hiring of permanent workers rose from 46.1 in July to 50.6 in August - tipping over the 50 mark which indicates growth. The report shows that for the [...]

September 9, 2009 | 0 Comments More
Variable rate mortgage stages comeback

Variable rate mortgage stages comeback

Mortgage borrowers are becoming less fearful of interest rate rises and opting for variable rate loans in larger numbers. July figures from John Charcol show that while fixed-rate deals retained their popularity, variable-rate mortgages, such as tracker or discounted loans, made up 35% of all mortgages arranged through the broker, compared to 17% of the [...]

September 1, 2009 | 0 Comments More
Citigroup & Bank of America exceed market expectations

Citigroup & Bank of America exceed market expectations

Citigroup and Bank of America have surprised analysts by reporting better than expected second-quarter results. Results from both banks have followed hot on the heels of strong results from fellow US Banking giants, JPMorgan Chase and Goldman Sachs. Citigroup posted a $4.3 billion second quarter profit due to gains on its Smith Barney deal. However, [...]

July 17, 2009 | 0 Comments More
US April retail sales worse than expected

US April retail sales worse than expected

The Commerce Department revealed that US retail sales fell 0.4% in April and follows a fall of 1.3% in March. April’s figure was worse than analysts had expected and show no evidence of an actual recovery, according to Paul Dales, US economist at Capital Economics. Consumer spending makes up for nearly 70% US GDP and [...]

May 14, 2009 | 0 Comments More
Michael Page profits fall amid dwindling recruitment market

Michael Page profits fall amid dwindling recruitment market

Recruiter Michael Page announced today that profits for the three months to the end of March fell 32% compared with the same period in 2008. The company, which specialises in placing professional staff, said profits were down by 39% at its UK business, which accounts for almost a third of the business. During the same [...]

April 7, 2009 | 0 Comments More
Abbey takes 28.9% share of new mortgage lending

Abbey takes 28.9% share of new mortgage lending

Abbey has announced that it lent over one in four new mortgages in the UK during 2008, accounting for 28.9% of net new home loans. During 2007, the bank’s share of the market stood at a mere 8%. Despite the credit crisis, the Spanish-owned lender has made it clear that it is keen to increase [...]

February 5, 2009 | 0 Comments More
UK equity release market shrinks by 9%

UK equity release market shrinks by 9%

Safe Home Income Plans (SHIP), the body that represents 90% of UK equity release providers, has reported that lending fell by 9% in value and 4% in volume in 2008. New equity release plans for the year totalled almost £1.096 billion, in terms of value. SHIP points out that the decrease is far less than [...]

January 27, 2009 | 0 Comments More