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FTSE 100 slips on debt ceiling jitters; Germany in recession

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The FTSE 100 is expected to open higher as forecasting busting results from Nvidia after the US market close lifted the mood despite the continuing deadlock in US debt ceiling talks.

Spread betting companies see London’s lead index up by around 16 points

Another good day for share price down 1.45%

Looks like another year for Lloyds share price going sideways

Expected easing in the current pressure on UK bank profit margins towards the end of the year should benefit the likes of HSBC, NatWest and Virgin Money more than Lloyds Banking.

That is the view of analysts at RBC Capital Markets, who calculate that the headwinds on net interest margins – the difference between the amount a bank earns on its loans and pays out on its deposits – are going to subside by the end of 2023 and turn into a “small tailwind” in 2024.

https://www.proactiveinvestors.co.uk/companies/news/1015939/lloyds-to-benefit-less-than-hsbc-natwest-as-mortgage-market-pressures-ease-broker-1015939.html

"Actually RPI is 11.4%"

The CPI mostly uses a geometric mean to aggregate price changes, whereas in the RPI an arithmetic mean is used. The former is better-suited to accounting for the effect of substitution between goods and services when relative prices change

UK inflation fell back into single digits in April as energy prices fell but by less than the City expected, figures from the Office for National Statistics showed.

The Consumer Prices Index rose by 8.7% in the 12 months to April, down from 10.1% in March; on a monthly basis, CPI rose by 1.2% in April 2023, compared with a rise of 2.5% in April 2022. Analysts had predicted a fall to 8.2%.

The FTSE 100 is expected to open weaker on Wednesday ahead of an inflation reading and after falls in the US and Asia.

Spread betting companies are calling London’s lead index down by 60 points

Https://www.reuters.com/business/autos-transportation/geely-premium-automaker-lynk-looks-further-european-growth-2023-05-23/#:~:text=PARIS%2C%20May%2023%20(Reuters),CEO%20and%20founder%20told%20Reuters.

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The FTSE 100 is expected to open flat on Tuesday after a mixed showing in the US after crunch talks in the US on the debt ceiling failed to produce a deal.

Spread betting companies are calling London’s lead index unchanged

Experts have raised questions about the spate of share buybacks undertaken by UK companies over the past year.

Buybacks reached record levels globally in 2022 according to recent figures from Janus Henderson, rising 22 per cent year-on-year to hit $1.3trn. Buybacks were worth 94 per cent of dividends in 2022, compared to 52 per cent in 2012.

AJ Bell’s Russ Mould pointed out that buybacks can be used to “massage” earnings per share figures by reducing the share count. In some cases, this can trigger management rewards.

However, some analysts argued that buybacks actually reflect a vote of confidence in the firm, suggesting that markets undervalue entire sectors.

https://www.cityam.com/experts-question-surge-in-buybacks-after-record-spree-in-2022/

The FTSE 100 is expected to modest progress when trading for the week begins ahead of durther debt ceiling talks in the US.

Spread betting companies are calling London’s lead index up by around 10 points

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LONDON, May 19 (Reuters) - British lender Nationwide reported a 40% jump in full-year profit on Friday, as a long run of Bank of England interest rate hikes lifted its finances despite a housing market slowdown.

The country's largest building society reported pre-tax profit of 2.2 billion pounds ($2.78 billion) for the year to April 4, up from 1.6 billion.

The FTSE 100 is likely to advance when trading starts on Friday after US markets rose strongly into the close on Thursday on growing optimism that a deal on the debt ceiling will be struck, with tech stocks particularly strong.

Spread betting companies are calling London’s lead index up by around 25 points

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Lloyds berated at AGM for greenwashing after increasing fossil fuel funding

https://www.proactiveinvestors.co.uk/companies/news/1015475/lloyds-berated-at-agm-for-greenwashing-after-increasing-fossil-fuel-funding-1015475.html