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Gate13boy
I imagine they will cool off for a bit but house prices will always keep go up

UK house prices hit average of £294,845 in largest growth spurt since 2004

House prices leaped in June in the largest increase of monthly growth since 2004, hitting an average of £294,845 after months of declining growth.

Climbing ever-closer to the £300,000 mark, house prices jumped 1.8 per cent in June, after climbing one per cent in May, when the average cost of a home was £289,099, according to the Halifax House Price Index.

“House prices have now risen every month over the last year,” Halifax managing director, Russell Galley, said. “The supply-demand imbalance continues to be the reason house prices are rising so sharply.”

https://www.cityam.com/uk-house-prices-hit-average-of-294845-in-largest-growth-spurt-since-2004/

SUFCESSEX

Don't know when the bull market will return BoE are saying the UK will have no economic growth over the next three years

The FTSE 100 is predicted to extend its gains from yesterday as chaos in Downing Street rolled on overnight and Wall Street made a sliver of gains.

London’s blue-chip index has been called 77 points higher on the IG spread-betting index

Unite and the GMB union are sitting on a strike mandate by over 700 check-in staff and ground handling agents at Heathrow airport demanding the reversal of a 10 percent wage cut imposed by British Airways

https://www.wsws.org/en/articles/2022/07/06/airw-j06.html

British Airways is nearing a deal with one of the unions representing check-in employees, according to a person familiar with the matter, potentially avoiding further disruption after having to scrap thousands of flights due to a staff crunch.

https://www.bloomberg.com/news/articles/2022-07-06/british-airways-is-said-close-to-deal-with-union-averting-strike

Global growth accelerates following upturn in China

Key findings

Output expands at fastest pace in four months

New order growth slows and new export business contracts

Business optimism slips to 21-month low

The rate of global economic expansion accelerated to a four- month high in June. The rebound mainly reflected a revival in China, where an easing of COVID lockdowns underpinned a solid return to growth. However, several survey indicators highlighted the ongoing fragility of the global economic upturn. New order growth eased to a near two-year low, international trade declined and business confidence slumped to its lowest since September 2020.
Please note that due to a later-than-usual release date, June manufacturing data for Canada were not available for inclusion in the global numbers.
The J.P.Morgan Global Composite Output Index – produced by J.P.Morgan and S&P Global in association with ISM and IFPSM – posted 53.5 in June, up from 51.3 in May. However, after excluding China from the calculation, the index fell from 53.9 to 53.1, further highlighting how recent volatility in the Chinese economy has impacted global economic trends.
Worldwide manufacturing production returned to growth in June, after back-to-back contractions in April and May. Growth of service sector business activity accelerated to a four-month high. Sub-sector data indicated expansion across the six industries covered by the survey, including returns to growth for the financial services, intermediate goods and investment goods categories. Faster rates of increase were seen in the business services and consumer goods sectors, while growth slowed at consumer services firms.
All 14 of the nations for which Composite Output Index data were available registered expansions in June. Brazil, India and China were the top-three ranked countries. China and Russia returned to growth following recent contractions, and rates of expansion accelerated in Japan, the UK and Brazil. The remaining nations all saw growth decelerations.

https://www.pmi.spglobal.com/Public/Home/PressRelease/a17a779f6c004745b2ff3154dcd282cd

Looks like markets are pricing in for the end of summer demand still to much uncertainty about with strikes, union won't won't to release the dates early

Us airliners were up 5%

Completely different business models can't compare the two airlines

British Airways is to cancel more than 1,000 additional flights this summer from Heathrow and Gatwick as staff shortages continue to affect its operations, while refuelling staff at Heathrow have announced they will down tools later this month.

More than 100,000 travellers, including those planning to visit popular holiday destinations such as Málaga, Palma and Faro will be affected, although BA will primarily cut back routes with multiple daily departures.

And in the latest threat to the summer getaway, workers at Heathrow who refuel planes for 70 airlines including Virgin, KLM, Air France and Emirates have announced a 72-hour walkout on 21 July in protest at a three-year pay freeze.

UK construction activity slowest in nine months -PMI

July 6 (Reuters) - Activity in Britain's construction sector slowed sharply last month, with the weakest expansion since September 2021, as fears for the economic outlook caused house-building to contract for the first time since early in the COVID-19 pandemic.

The S&P Global Purchasing Managers' Index (PMI) for the construction sector dropped to 52.6 in June from 56.4 in May, a much sharper fall than the decline to 55.0 forecast in a Reuters poll of economists.

The fall was led by a dip in the housing component below the 50-level that separates growth from contraction for the first time since May 2020. Commercial work also "saw a considerable loss of momentum" as businesses reined in spending.

"The gloomy UK business outlook and worsening consumer demand due to the cost of living crisis combined to put the brakes on construction growth in June," S&P Global's economics director, Tim Moore, said.

Share price keeps dropping this will bring down the Interim Divi payment

FTSE 100’s rollercoaster week is set to continue with financial spread bet firms predicting a rise of around 69 points at the start.

Mr Nunn said he was concerned the UK was talking itself into a recession.

"We are concerned that I think we collectively are talking ourselves into the risk of too negative an outlook. There are pockets of strength in the economy.

"There are significant parts of the consumers in the UK who have strength and really want to spend and create that demand and we can continue to see opportunities to invest in growth.

Most Lloyds Bank customers have less than £500 of savings in their accounts, its chief executive said.

Charlie Nunn said Lloyds had seen customers with persistent debt problems jump up by a third in just the first six months of this year.

https://au.news.yahoo.com/most-only-500-savings-says-231203788.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADx1DLwwfeWSvL8RzhXvZIUm7eIH3b-sT8aTSRqFsnRXmRT-3JdLb43aN1dqbuNiESBFXO4hkQO_MgS8a1MLfBpaszHlmukFpFjMMD9sn8KmCdXYtHHosfsOm7huuy5siGtW3yNfWwzW83xJ4dc40gXELz8ZO2nvH7BooLtyZ81A

Economists are calling for BoE to raise rates 50 basis points this August got to stop the British Pound from falling further

It's interest rates going up witch is why Lloyds is holding up buyback have nothing to do with the share price

""buybacks have effectively put a floor under Lloyds at the moment""

Lloyds is the only bank in UK and American not to bounce back higher than before the pandemic, some floor that's been

Banking shares are lower despite the Bank of England saying UK lenders appear resilient amid the worries about the UK economy.

The Bank's financial policy committee said the sector had considerable capacity to support lending to households and businesses.

"Major UK banks' capital and liquidity positions remain strong, and profitability has strengthened in aggregate," the Bank said.

But it did say they would need to set aside more cash to absorb any shocks in the financial markets from next year.

So it has raised the so called counter cyclical capital buffer that banks much hold from 1% to 2% from next July. This means the banks would have to hold an extra £11bn of capital.

July 5 (Reuters) - Growth among British businesses last month was a touch stronger than originally thought but there were further signs of how surging inflation is dragging on new orders, raising fears of a recession, a survey showed on Tuesday.

The composite S&P Global/CIPS Purchasing Managers Index - spanning services and manufacturing firms - edged up to 53.7 from a preliminary June reading of 53.1 and was higher than in May when it also came in at 53.1.

A PMI for just the service sector similarly rose to 54.3 from the "flash" reading of 53.4.

"The service sector remained in expansion mode during June, but persistently high inflation has started to dent discretionary spending and negatively influence demand projections across the board," Tim Moore, economics director at S&P Global Market Intelligence, said.

New order growth in the sector was the weakest since early 2021 when Britain was under a coronavirus lockdown - despite a rebound in exports as pandemic restrictions lifted overseas markets and travel resumed. Overall activity was being supported by companies focusing on their backlogs of work.