Member Info for livestock

The UK’s service sector saw business activity at the start of 2023 decline for the fourth consecutive month, with the weakest performance for two years.

The S&P Global/CIPS UK services PMI survey showed a reading of 48.7 in January, down from 49.9 in December; any reading below 50 is considered a decline.

https://www.cityam.com/soaring-cost-of-living-leaves-service-sector-at-its-weakest-in-two-years-but-recession-fears-fail-to-blight-uk-business-optimism/

ECB just hiked rates another 50 basis points

Governor bailey has kept to script and hiked 50bps hike

Strong buy Lloyds

Hopefully come 12 today governor bailey won't let us down and hike rates 50 basis points this will take Lloyds earnings to £2.7 billing from it's loan book, higher earnings higher share price

https://www.cityam.com/flying-start-to-2023-shares-soar-after-16m-passengers-take-to-skies-on-ryanair-and-wizz-air/

FTSE 100 is expected to make a strong start to the day as the Federal Reserve slowed the pace of interest rate increases and the Fed chairman, Jerome Powell, stated "the disinflationary process has started", Back in London and spread betting companies are calling the lead index up by around 29 points as the interest rate baton is passed to the Bank of England and ECB with both expected to increase interest rates by 50 bps

Great news for banks higher earnings higher share price

Major retail bosses join forces with Sadiq Khan to call for return of VAT-free shopping for tourists

Mr Hunt's predecessor, Kwasi Kwarteng, said tax-free shopping for visitors would help British businesses feel the full economic benefit of tourism.

However, the Chancellor said in October that 'not proceeding with this scheme is worth around £2 billion a year'.

https://www.google.com/amp/s/www.dailymail.co.uk/news/article-11699119/amp/Major-retail-bosses-join-forces-Sadiq-Khan-call-return-VAT-free-shopping.html

https://www.proactiveinvestors.co.uk/companies/news/1004909/virgin-money-uk-posts-slightly-higher-loan-growth-than-expected-1004909.html?utm_source=izooto&utm_medium=push_notifications&utm_campaign=recover-abandoned-tab&utm_content=notification1

Feb 1 (Reuters) - British manufacturers saw their business shrink for a sixth month in a row in January, kicking off a tough 2023 when the country's economy looks set to fall into a recession, according to a survey published on Wednesday.

The S&P Global/CIPS UK manufacturing Purchasing Managers' Index (PMI) rose to 47.0, up from a preliminary January reading of 46.7 and from a 31-month low of 45.3 in December but still below the 50.0 level that separates contraction from growth.

BBVA had major advances in its strategy: It added more than 11 million new customers and continued to increase its digital sales, which already account for nearly 80 percent of the total. Furthermore, the bank channeled €50 billion in sustainable business. These achievements led to a net attributable profit of €6.42 billion in 2022, up 38 percent compared to the previous year (+39 percent at constant exchange rates), its highest to date. This figure is the result of solid income growth, bolstered by a double-digit increase in lending (+13.3 percent in constant euros). Operating income also posted a record (€14.13 billion). With these results, the bank will distribute more than €3 billion through a significantly higher dividend, which will reach €0.43 per share, and a new €422 million share buyback program¹.

https://www.google.com/amp/s/www.bbva.com/en/results-4q22/amp/

‘Goldilocks’ scenario?
Current consensus estimates are for Lloyds Banking Group (LLOY) to achieve a return on tangible equity (ROTE) of around 13 per cent for 2022, rising to 14 per cent this year. NatWest (NWG) ROTE is forecast to grow from just under 12 per cent to 15 per cent.

“When I started in this business 30-odd years ago, if a bank was delivering 15 per cent ROTE it would trade at 1.5 times book value.”

Yet Barclays (BARC), Lloyds and NatWest currently trade at below book value, which suggests the market expects a fairly severe recession, leading to sizeable loan book impairments, according to Lee. However, he said such fears are misplaced, given the continued strength of labour markets. In almost every recession since the second world war, unemployment rates have increased to around 6 per cent, he noted. The UK’s unemployment rate currently stands at 3.7 per cent and there are more than 1.1mn job vacancies, according to the Office for National Statistics.

https://www.investorschronicle.co.uk/news/2023/01/27/the-shares-brokers-are-backing-this-year/

Your right looking to finish in the green banks are back in favour with more rate hikes coming and results end of month
GL

CWWX
Why would you say that when IAG share price dropped this morning with news of IMF cuts UK growth forecast it's spoke the markets and the ftse100 was down and still down this afternoon

Just reading the last year's rns Bill Brodie Good CEO & Technical Director told the markets they will be shovel ready early 2023, but forgets to mention there's no heritage licence mining license for works to start, one of main things with a mining stock got to keep investors updated with good information and updates the new CEO is to quiet

volcano

US futures slightly higher nothing to get excited about

It was ment to be shovel ready early this year it's looking like there could be no heritage licence mining license this year no wonder the new CEO keeping his head down

"Good job IAG is a global company, not just UK"

All the dimwits are out today

UniCredit jumps 8.65% on good results

IMF cuts UK GDP forecast for 2023