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...Names, whose capital used to make up the entirety of the market, account for only 9 per cent today, with corporate money making up the vast majority....
...Andrew Balls, chief investment officer for global fixed income at the $1.9tn-in-assets firm, told the Financial Times that weaker economic growth in some countries was helping ease price pressures there...
...The UK’s £1.4tn “defined benefit” pensions industry has been switching to corporate debt for its higher yields and to prepare the schemes for potential sales to insurers, analysts say....
...Services output grew 0.1 per cent in February, while production — including manufacturing, utilities and mining — increased 1.1 per cent. Construction output fell 1.9 per cent....
...The UK’s £1.4tn “defined benefit” pensions industry has been switching to corporate debt for its higher yields and to prepare the schemes for potential sales to insurers, analysts said....
...Royal Windsor Horse Show 2024, 1-5 May, rwhs.co.uk...
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...Excluding bonuses, annual growth slowed from 6.2 per cent to 6.1 per cent....
...The rest of the G10 group of heavily traded currencies are down against the dollar, with the euro losing 0.9 per cent, the Canadian dollar down 1.7 per cent and the Japanese yen sliding 4.1 per cent....
...The euro and sterling fell to their weakest levels against the dollar since November on Friday at $1.0642 and $1.245, respectively, while the yen sank to a 34-year low, before recovering to ¥153.28....
...The S&P Global UK manufacturing purchasing managers’ index rose to 50.3 in March, up from 47.5 in February and above the flash reading of 49.9, pushing 10 year gilts yields up 0.15 percentage points to 4.09...
...The blue-chip S&P 500 closed up 0.9 per cent, at a new record, continuing a rally that has pushed the index 27 per cent higher since October. The Nasdaq Composite gained 1.3 per cent....
...Based on reporting by Roman Olearchyk, Christopher Miller, Ben Hall, Max Seddon, John Paul Rathbone, John Reed, Guy Chazan, Henry Foy, Mehul Srivastava, Polina Ivanova and Tim Judah....
...Hungary’s forint today touched its lowest point against the euro since October after the country’s central bank lowered interest rates by 1 percentage point to 9 per cent....
...That valued DS Smith at £7.5bn ($9.5bn) including net debt, with a per-share price about a tenth above UK rival Mondi’s approach in February....
...On Friday the S&P gained 1.1 per cent following the jobs figures, having fallen earlier in the week....
...Higher borrowing costs are set to push governments’ interest expenses across member countries up from 2.9 per cent of GDP last year to 3.4 per cent in 2026, according to the OECD’s estimates, adding pressure...
...While the unemployment rate rose to 3.9 per cent from 3.7 per cent the month before, it remains low by historic standards....
...Core inflation, which strips out volatile food and energy prices, was 5.1 per cent, the same level as the previous month and higher than the 4.9 per cent predicted by economists....
...Completions nosedived to 9,922 in 2023 from 14,868 in 2022, highlighting the levels it will need to return to....
...Hungary’s key rate dropped by 1 percentage point to 9 per cent this week, having fallen from 13 per cent in the autumn....
...In a sign of investors’ nervousness, yields on some of the safest “class A” bonds within the ringfence are now in excess of 9 per cent, compared with about 6 to 7 per cent before the current crisis....
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