Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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FTSE 100 seen slightly higher ahead of Tuesday’s open
It's been a quiet overnight, and London's blue-chip benchmark is now seen around 16 points higher ahead of Tuesday's open
FTSE 100 was expected to rally after US markets perked up at the end of last week.
Financial spread betting firms were pencilling in gains of around 63 points
Duncan Brock, Group Director at the Chartered Institute of Procurement & Supply:
“The manufacturing sector managed to hold steady last month and remained just above the no-change mark whilst delivering some sluggish results at the same time. New order levels fell for the first time since January 2021 and interest particularly from export markets faded away for the fifth month in a row.
“Supply chain managers reported that ports and paperwork were their undoing in June with Brexit a thorn in the side of manufacturers combined with weaker domestic demand, inefficient performance in supply chains and an overall shaky UK economy. The consumer goods sector took the brunt of the shortfall overall as the mounting cost of living crisis affected spend for manufactured goods. One bright spot remained job creation as businesses played catch-up after lockdowns and disruptions but hires will soon reach peak levels without a steady pipeline of work to keep the machines turning.
“As the energy in the sector leeched away, so did optimism which fell to its lowest since May 2020 where only 47% of respondents were hopeful about the next 12 months. The manufacturing sector may not be the biggest in terms of the UK’s GDP contribution, but its importance may become more critical in the coming years and it needs a better trading environment than 2022 has offered so far.”
Commenting on the latest survey results, Rob Dobson, Director at S&P Global Market Intelligence, said:
“UK manufacturing output growth ground to a near standstill in June, as intakes of new work contracted for the first time since January 2021. Domestic market conditions became increasingly difficult and foreign demand fell sharply again, stifled by Brexit, transport disruption, the war in Ukraine and a global economic slowdown. Business confidence took a hit as a result, dipping to its gloomiest since mid-2020. Jobs growth also slowed sharply amid the increasingly uncertain outlook and recent surge in energy costs.
"The consumer goods sector was especially hard hit, as household demand suffered a steep retrenchment on the back of the cost-of-living crisis.
"There were some welcome signs that supply-chain constraints and cost inflationary pressures may have passed their peaks. However, with these constraints still elevated overall and demand headwinds rising, it is likely that UK manufacturing will see the economic backdrop darken further in the second half of the year.”
CIPS UK Manufacturing PMI
UK manufacturing slowdown continues as business optimism dips to lowest level in over two years
Key findings
Output growth slows to near-stagnation pace...
...as new order intakes fall for the first time since January 2021
Price inflation remains elevated despite further easing
The slowdown in the UK manufacturing sector continued at the end of the second quarter, as June saw output growth grind to a near-standstill pace and new orders contract for the first time in 17 months. Business optimism dipped to its lowest since May 2020, as the number of firms expecting production to rise over the coming year fell to 47% (from 55% in May).
The seasonally adjusted S&P Global / CIPS UK Manufacturing Purchasing Managers’ Index® (PMI®) fell to a two-year low of 52.8 in June, down from 54.6 in May. The PMI has remained above the 50.0 mark since June 2020.
Manufacturing production rose for the twenty-fifth consecutive month in June. However, the rate of expansion was the weakest during the current upturn. Performances differed widely across the sector. Consumer goods producers saw a marked downturn in output, while robust expansion was again registered in the investment goods industry.
https://www.pmi.spglobal.com/Public/Home/PressRelease/cb424269550e48c9bbd7d2cbca55fa7f
Recession talk is the main cause and Wells Fargo yesterday predicted that would occur in the US next year with the UK to follow soon after.
“With the US economy, in our view, now expected to fall into recession in 2023, we also expect the UK to experience an economic recession by early next year.”
FTSE 100 indicators were pointing towards another fall at the open to add to the beating the blue-chip index took on Thursday.
spread bet firms are pencilling in another 41 points drop
Fakey market trader market dealer or whatever you are calling yourself these see days heartbreaking for who you aren't invested in Lloyd's or other financials so you don't give two monkeys about the shareholders of Lloyd's or any other financial company you are only interested in yourself so stop the crocodile tears
End of quarter/half year
I bought Rolls Royce at 92p .
I called that a wee bit wrong .
falk
''though the market Is in dire situation and will last for a while. It's really heart breaking''
You love it.
Ftse 100 about 8% lower than the all time high
**To be honest i ain't got a clue what and how to play it at the mo .**
No one does, we are all guessing here at the moment though the market
Is in dire situation and will last for a while. It's really heart breaking
For the Lloyd’s holders cos the buyback hasn't helped the sp so far.
Can't see the sp going to 34p unless the war in Ukraine has expanded
To another country...wait and see.
Lol
b
''One day you will agree with me ''
B
26 Jun 2022 17:52
''Guit
22 kids blown up in Manchester ! One of them yours ? no , put a sock in it twat .''
I agreed with that
That's correct lti the 27th in which we are all hoping to hear better than expected, to start the journey onward and upwards and hope we can put the tragedies and any losses holders have endured far behind us, and not have to dwell on any more negativity possibilities that could occur, but they that's life ,dyor enjoy the day ,
10p
B
A third world war does not equate to a Lloyds share price of 34p - that is for sure
Lti
One day you will agree with me , lol
hb
''the next 3 weeks''
so from the next week or two to 3 weeks now.
the next thing of any consequence to Lloyds is on the 27th July - news from which would unlikely drop the share price to 34p.
I think over the next 3 weeks we should know if the market sees weakness or strength, to either take it up a lot higher into the 50p range or down into the 30p quicksand again dyor imho it's looking weak at the moment ,your guess is as good as mine,if the drop comes I will add but not buy above 40p bol.
btw - I would be quite happy with 34p on unchanged fundamentals - I would 100% be purchasing
b
''A stray Russian missile on nato that will do it .''
so B - that is compatible with HB's -
''we may hit 34p or near thing over the coming week or 2 ''
Don't think so
Lti
A stray Russian missile on nato that will do it .
hb
''inflation housing covid war just a few examples''
apart from anything the market takes into consideration on a daily basis to currently give a Lloyds valuation of 42p per share, what catastrophe is it that would make 34p a reality in the next week or two?
Lti not to mention STRIKES,wages etc to add to the list enjoy your day.