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Euro zone recession may not be as deep as expected -PMI

LONDON, Jan 4 (Reuters) - Euro zone business activity contracted less than initially thought at the end of last year as price pressures eased, according to a survey which suggested the bloc's recession may not be as deep as expected.

S&P Global's final composite Purchasing Managers' Index (PMI) for the euro zone, seen as a good gauge of economic health, rose to 49.3 in December from November's 47.8, above a preliminary estimate of 48.8.

While the index has been below the 50 mark separating growth from contraction since July, December was a five-month high. The final data was compiled earlier than usual last month due to the holiday season.

"The euro zone economy continued to deteriorate in December, but the strength of the downturn moderated for a second successive month, tentatively pointing to a contraction in the economy that may be milder than was initially anticipated," said Joe Hayes, senior economist at S&P Global Market Intelligence.

https://www.reuters.com/markets/europe/euro-zone-recession-may-not-be-deep-expected-pmi-2023-01-04/

My New years resolution

Stop reading bull-**** that posted on here

The share price getting close to 47p it won't be there long one the vertigo sets in

dickie3times

Completely agree with the price of silver Rod has made it quite clear he's concentrating on iron ore projects, Elizabeth Hill silver mine could be another year away before it's operational

Markets are looking at the 8th next week when china opens it's borders will be a big surge in passenger numbers arriving at Heathrow another plus testing for COVID is voluntary any one testing positive will not have to self isolate, looking good for IAG

LONDON, Jan 3 (Reuters) - British manufacturers reported one of their sharpest falls in activity since the 2008-09 recession last month, as new orders fell sharply and companies cut jobs, a monthly survey showed on Tuesday.

The S&P Global/CIPS UK manufacturing Purchasing Managers' Index (PMI) sank to 45.3 in December from 46.5 in November, its lowest since May 2009 apart from two months at the start of the COVID-19 pandemic in 2020.

https://www.reuters.com/markets/europe/uk-manufacturing-ends-2022-low-orders-shrink-pmi-2023-01-03/

With the possibility of increased Asian travel has boosted IAG share price this morning

With GDP already contracting and projected to do so for most or all of 2023, the UK is predicted to experience one of the worst recessions and poorest recoveries among the G7 countries in the upcoming year.

This was the major finding of a survey of UK-based economists conducted by the Financial Times, which blamed the turmoil on the inflationary shock brought on by the epidemic and the conflict in Ukraine.

The Bank of England will be required to maintain high-interest rates while the government implements a strict budgetary strategy since it is anticipated that the recession will last longer in the UK than it will elsewhere.

As a result, it is anticipated that household incomes will be reduced, with higher borrowing rates exacerbating the already severe effects of soaring food and energy prices.

While the global economy and half of the EU are also expected to be hit by recession this year, according to the IMF, the UK's downturn is expected to be both deeper and more prolonged.

Forecasts compiled by Consensus Economics published in the FT show UK GDP shrinking by 1% in 2023, compared with a contraction of just 0.1% for the eurozone as a whole and growth of 0.25% in the US.

Many respondents also noted that the UK's recovery, once it begins, is expected to be a feeble one, unfolding "in the long shadow of Brexit" and in the absence of any plan to boost long-term growth, the paper said.

https://www.proactiveinvestors.co.uk/companies/news/1002271/global-recession-will-hit-uk-harder-and-longer-than-other-g7-economies-survey-reveals-1002271.html?rel=scroll

""Without the Ukraine war I Think Lloyds would have clawed back to 64p pre Covid Price""

The war had been going on for 7 years

Revenue jumped to GBP10.3 million from GBP2.8 million, and this includes an 82% surge in revenue in Barkby's pub company to GBP6.0 million from GBP3.3 million a year before

One of the Government's top scientific advisers has played down fears about China's surge in Covid cases and suggested fresh border restrictions are not necessary

https://www.google.com/amp/s/www.dailymail.co.uk/news/article-11585129/amp/Scientists-play-concerns-Chinas-Covid-surge-new-variant-does-emerge.html

The FTSE 100 is predicted to open the last trading day of 2022 on the back foot.

CFD provider IG Index calls the blue-chip index some 18 points lower

2023 is expected to be an exceptionally tough year for the UK economy. The country is almost certainly already in a year-long recession, one that will probably prove to be deeper than that experienced in the early 1990s.

The squeeze on household real incomes will intensify as rising interest rates join soaring inflation.

Admittedly, the Government’s austerity measures won’t harm growth in the short term, according to Thomas Pugh, economist at RSM UK.

https://www.cityam.com/year-ahead-squeeze-on-household-incomes-to-intensify-as-tough-recession-will-dominate-2023/

https://www.lloydsbankinggroup.com/media/press-releases/2022/lloyds-bank/lloyds-bank-shares-ten-tips-to-keep-finances-on-track-in-2023.html

Half of passengers on China flight to Italy have COVID - as US becomes fifth country to tighten restrictions on Chinese travellers

https://www.google.com/amp/s/news.sky.com/story/amp/covid-patients-no-longer-have-to-quarantine-in-hong-kong-as-restrictions-are-lifted-12775498

The FTSE 100 has been tipped to rise on Wednesday, the first trading day after Christmas, which could be enough to send the index back into positive territory before the end of the year.

London's blue-chip index is seen rising around 32 points, according to spread-betters, following a mixed session on Wall Street overnight

ALIEN METALS (@AlienMetals) tweeted at 3:07 pm on Fri, Dec 23, 2022:
Exciting times for Alien to have a high-grade DSO Iron Ore Project in Australia

#ironore #UFO

https://t.co/DoL0TREDgN
(https://twitter.com/AlienMetals/status/1606305606658318338?t=u_06gH7v-DlQKP2adYy0jA&s=03)

https://flightaware.com/miserymap/

FTSE 100 is expected to open higher as US markets closed off their worst levels although volumes are expected to be thin on what is a short trading day in London ahead of the festive break.

Spread betting companies are calling the lead index up by around 21 points

Gate13Boy
""Lloyds have had a lot of headwinds over the last few years which people forget""

This year Lloyds has no PPI payments, no Brexit worries, no pandemic worries the company is earning an extra £2.350 billion Net interest revenue it's set aside £688 million of investors money to cover bad debts and the 2 billion buyback has given Lloyds investors an extra 00.1 percentage in the company, charlie Nunn took the reins 16 august 2021 share price was 45.63p today closing price is 45.99p so who's the buyback been a been a complete success for