The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
BEIJING, April 10 (Reuters) - Fitch cut its outlook on China's sovereign credit rating to negative on Wednesday, citing risks to public finances as the economy faces increasing uncertainty in its shift to new growth models.
The outlook downgrade follows a similar move by Moody's in December and comes as Beijing ratchets up efforts to spur a feeble post-COVID recovery in the world's second-largest economy with fiscal and monetary support.
https://www.reuters.com/world/china/fitch-downgrades-outlook-china-negative-affirms-a-rating-2024-04-10/
Https://www.cityam.com/services-trade-sees-uk-become-worlds-fourth-largest-exporter/
The UK has overtaken France, the Netherlands and Japan to move into fourth place in the global rankings.
Ms Badenoch said: “These new figures show how the UK is punching above its weight on trade, and is on track to reach our ambition of exporting a trillion pounds of goods and services a year by 2030.
Britain's high position in the global rankings is due to the strength of services exports which hit a record £470billion last year.
https://www.google.com/amp/s/www.express.co.uk/news/politics/1886543/kemi-badenoch-uk-exports-brexit/amp
The UK has become the world’s fourth largest exporter thanks to a boost in services, fresh trade figures have shown.
It comes after the UK ranked seventh in 2021, moving up three places in the figures for exporting goods and services in 2022, the United Nations (UN) has confirmed.
Business and trade secretary Kemi Badenoch welcomed the news, and said: “These new figures show how the UK is punching above its weight on trade, and is on track to reach our ambition of exporting a trillion pounds of goods and services a year by 2030.”
https://www.cityam.com/services-trade-sees-uk-become-worlds-fourth-largest-exporter/
LONDON, April 10 (Reuters) - Britain's cost of living crisis is showing signs of easing, an FCA survey showed on Wednesday, with a year-on-year fall in the number of people struggling to pay bills and credit repayments in January and a rise in those coping well or very well.
The Financial Conduct Authority's latest financial lives survey estimated that 7.4 million Britons were struggling to pay bills and credit repayments, from 10.9 million in January 2023.
Cost of living pressures should ease further this year as inflation is expected to drop below the Bank of England's 2% target in coming months, raising hopes it will begin cutting interest rates, which currently stand at 5.25%.
https://www.reuters.com/world/uk/uk-survey-shows-signs-cost-living-crisis-easing-some-2024-04-09/
Higher-for-longer rates will be a tailwind for the country’s largest lenders as it will support their net interest margin (NIM), a measure of how much a bank is earning in interest compared to the amount it is paying out to savers.
“Fewer rate cuts mean we expect that banks are likely to have a better outlook for net interest income for full-year 2024 than they did in January,” Betsy Graseck, an analyst at Morgan Stanley said
https://www.cityam.com/big-us-banks-jpmorgan-citi-and-wells-fargo-to-benefit-from-slower-fed-interest-rate-cuts/
Silver “has the most potential to benefit from a sustained rally in gold” among the precious white metals, reckon UBS analysts
https://www.proactiveinvestors.co.uk/companies/news/1044889/silver-to-ride-coattails-of-gold-s-record-prices-says-ubs-1044889.html
Leas
" there is less chance of loan defaults through high interest rates"
Governor bailey said last month county the doing fine with higher interest rates,
Charlie Nunn reckons a 0.25 percentage point rise will help net interest income by about £225m in the first year, £300m in the second year and £425m in year three
So with a rate cut Lloyds profits will fall doesn't mean the SP will drop
Https://www.proactiveinvestors.co.uk/companies/news/1044741/gold-prices-hit-a-new-all-time-high-1044741.html
Looks like silver is following the gold
Business surveys are pointing to a bright next few months for the UK as the economy finally feels the benefit of falling inflation.
Economic output climbed to its highest level since May 2022 in March, according to the BDO Business Trends report, which collects and regroups data from the UK’s main business surveys
https://www.cityam.com/uk-economy-business-output-at-highest-level-since-may-2022-as-recovery-continues/
"The fact is the AML SP has not performed well since 2021"
I'm topping up 4 weeks time Q1 results out 1st May same time last year the share price rallied from roughly 200 to 400 the company in much better position this year 📈🚀
The FTSE 100 has been boosted by commodities strength, which he says is based on a number of factors, such as a possible recovery of demand from China which has boosted the likes of copper and followed through to the mining sector
This was from yesterday the only reason for todays rally, won't see any RNS with news
“We continue to believe that UK incumbent banking is in long-term structural decline from new entrants with better cost and higher customer satisfaction,” KBW added.
“But, it is clear that 2024 is set to be a cleaner year than we have seen for some time.”
Lloyds was upgraded to an ‘outperform’ rating as a result, with KBW hiking its share price target from 55p to 60p.
https://www.proactiveinvestors.co.uk/companies/news/1044607/lloyds-upgraded-as-optimism-builds-for-second-half-of-year-analysts-1044607.html