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The UK economy contracted by 0.2 per cent between July and September, compared to growth of 0.2 per cent in the previous three months, the Office for National Statistics said this morning

Nov 11 (Reuters) - Britain's economy shrank by 0.2% in the three months to September, according to official data which is expected to represent the start a lengthy recession.

A Reuters poll of economists had pointed to a bigger contraction of 0.5% in gross domestic product in the third quarter.

The Bank of England said last week that Britain's economy was set to go into a two-year recession if interest rates rose as much as investors had been pricing. Even without further rate hikes, the economy would shrink in five of the six quarters until the end of 2023, it said.

FTSE 100 is expected to open higher on Friday, extending Thursday's rally after a US inflation reading undershot market expectations sending US markets sharply higher. Asian markets also made strong gains.

Spread betting companies are calling London’s blue-chip index up by around 25 points

The travel sector has called on Chancellor Jeremy Hunt to ensure the industry can “recover and thrive” as the UK gets ready for next week’s Autumn Statement

https://www.cityam.com/travel-sector-calls-on-chancellor-to-ensure-industrys-recovery-in-next-weeks-budget/

The US Global Jets ETF co-creator Frank Holmes says many Americans remain committed to spending on travel despite the economic downturn and possible recession.

This has resulted in record quarterly revenue for some airlines - though their share prices are yet to reflect their upbeat earnings reports, Holmes adds.

The Monthly JETS Market Report also notes that countries that are re-opening their borders to vaccinated tourists are seeing the benefits.

UK gross domestic product figures for the third quarter are due on Friday and are expected to show the UK economy fell into reverse following a surprise increase in quarter two.

Economists forecast a 0.1% decline in the quarter which was distorted by the funeral of Queen Elizabeth II.

The figures are likely to confirm the UK economy is heading into recession, with the Bank of England (BoE) forecasting GDP will fall by 0.75% in the second half of 2022.

The slump could be prolonged with the BoE estimating that economic growth will slow throughout 2023 and into 2024

FTSE 100 jumps 1%, pound gains and Wall Street set for strong start after better than expected US inflation figures

Pub operator Young’s has said its Square Mile sites are bustling with office workers and tourists once more, as it declares central London back in business.

Sales in the City – which has seen hospitality venues hammered hard by home-working trends and Covid lockdowns in recent years – were up 11.1 per cent on last year, Young’s revealed.

In half-year results, the London-listed business posted ajusted earnings of £45m, up five per cent compared to the same six month period in 2021. Sales had shot up by just under a quarter to £186.5m, sitting above pre-pandemic levels

Good to finish above 130 passenger numbers out Friday morning, can't see this pulling back

UK at greater risk of mortgage default wave than international counterparts

https://www.cityam.com/uk-at-greater-risk-of-mortgage-default-wave-than-international-counterparts/

JD Wetherspoon posted buoyant sales for the first quarter, although it said demand had softened slightly in October.

Like-for-like sales were 9.6 per cent higher than the same period last year, with the pub chain benefiting from a return to pre-pandemic habits as widespread fears over Covid have alleviated.

The chain, which is known for its cheap drinks and meals, will be hoping to entice punters who are keen to trade downwards amid the economic crunch.

Global investors plough £97bn into funds as confidence rebounds

https://www.cityam.com/global-investors-plough-97bn-into-funds-as-confidence-rebounds/

US stocks have made modest gains at the open pushing up the share price this afternoon looking for a good finished today

Dow Jones Industrial Average had added 110 points or 0.3%, the Nasdaq Composite was up 7 points or 0.1 % at 10,572 points, while the S&P 500 was flat at 3,808 points.

That not hard to predict these analyst are just stating the obvious Lloyds is way undervalued when they making an extra 2.1 billion net interest from the rate hikes and extra earnings from buyback program

Brixton
We should get some positive news and a rally in the markets SP pushing north to 50p

pebsi
Market's are forward looking so production might be priced in, I can see alot of unhappy investors if we don't get a rally

Good update from Bill exploration underway at Elizabeth Hill and Munni Munni

maqsood7

Should we be reporting the rampers to as the share price has been dropping for well over a year now

British Airways has announced a new partnership with ride-sharing company Uber.

Members will be able to link their Executive Club and Uber accounts, allowing them to earn one Avios for every £1 spent on any ride booked on the Uber app in the UK, “whether that be by car, coach or train”.

https://www.businesstraveller.com/business-travel/2022/11/08/british-airways-launches-new-avios-earning-partnership-with-uber/

No1Scarlet
130 would be good today IAG is back in favour with market's