Earlier this year as a result of the coronavirus pandemic, the FTSE 100 marked its worst quarter since 1987, losing around 25 per cent of its value. The biggest losers were travel and leisure stocks, dropping up to 45 per cent due to falling demand and tougher restrictions. Even though the FTSE 100 started to rise steadily as the UK economy reopened, fears of a ‘second wave’ plunged the index Read More….
According to the Office for National Statistics, the UK economy has recorded its third consecutive month of growth, rising 6.6 per cent in July. This follows growth of 8.7 per cent in June and 2.4 per cent in May. The FTSE 100, a popular gauge of prosperity for businesses regulated by UK company law, closed up 79.29 points at 6,105 on the 15th September. Pound sterling also continued to make Read More….
The FTSE-100 continues to move upwards despite the news that the UK economy suffered its worst ever fall in the second quarter. Thanks to a weaker dollar, signs of a slowing coronavirus spread as well as hopes for new stimulus propelling British equities higher, the index recently closed at a two-month high of 6280. The Footsie’s performance has been echoing similar strong gains across European indices, taking its cue from Read More….
Lower-income households are using savings and borrowing more during the coronavirus lockdown according to research by the Resolution Foundation. In fact, poorer families are twice as likely as richer ones to have increased their debts during the crisis. By contrast, richer families are actually saving more because they’re not able to eat out or go on planned trips abroad. Just one-in-eight high-income households have increased their use of consumer credit Read More….
According to Bank of England Governor Mark Carney, central banks might not be able to stop a sharp economic downturn as ever since the global financial crisis, they have used up much of their usual monetary policy arsenal. “It’s generally true that there’s much less ammunition for all the major central banks than they previously had and I’m of the opinion that this situation will persist for some time,” Carney Read More….