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UK house prices increase sharply again – but growth still expected to slow later this year
• House prices increased by 1.1% in April
• Tenth consecutive monthly rise, the longest run since 2016
• House prices are up £47,568 over the last two years
• Average property price reaches another new record high of £286,079
• Northern Ireland now the UK area with strongest house price inflation
• Rate of house price growth still expected to slow as incomes squeezed

Russell Galley, Managing Director, Halifax, said:

“The average UK house price rose again in April, up by 1.1%, or £3,078, in the month . This was the 10th consecutive month that property values have increased, the longest run of continuous gains since the end of 2016.
“Housing transactions and mortgage approvals remain above pre-pandemic levels and the continued growth in new buyer enquiries suggests activity will remain heightened in the short-term. The imbalance between supply and demand persists, with an insufficient number of new properties coming onto the market to meet the needs of prospective buyers and strong competition to secure properties driving up prices.
“There remains evidence that this demand is centred on larger, family homes, rather than smaller properties such as flats. Over the past year, prices for detached and semi-detached properties have risen by over 12%, compared to just 7.1% for

British Airways owner International Airlines Group (IAG) today said it believes the easing of global restrictions and the return of global travel will see it bounce back to profitability.

The firm – formed through the merger of Iberia and British Airways in 2011 – said its Q1 2022 passenger numbers were 65 per cent those seen in 2019, up from rates of 58 per cent in the previous quarter.

The Anglo-Spanish airline said it expects rising passenger numbers to drive profitability in the remainder of 2022, as it posted a €731m loss for the first quarter, compared to a €1.08bn loss over the same period last year.

The company said it currently expects passenger numbers to increase sharply in coming months, as it forecast rates would be 80 per cent of 2019 levels in Q2, 85 per cent in Q3, and 90 per cent in Q4.

The firm said higher passenger numbers were in part being driven by the highest levels of business travel since the start of the pandemic alongside strong demand for premium leisure.

The aviation giant blamed omicron on a higher number of cancellations in January and February but said it had not seen any impact on passenger number from the war in Ukraine.

AIG chief executive Luis Gallego said: “Demand is recovering strongly in line with our previous expectations. We expect to be profitable from the second quarter onwards and for the full year.”

“The welcome removal of UK’s stringent travel restrictions, combined with strong pent-up demand, have contributed to a steep ramp up in capacity.”

IAG expects to be profitable for rest of the year as travel demand rebounds strongly

https://www.proactiveinvestors.co.uk/companies/news/981580/iag-expects-to-be-profitable-for-rest-of-the-year-as-travel-demand-rebounds-strongly-981580.html

Global economic growth slips to 22-month low following steep downturn in China

Key findings
Rates of output and new order growth ease

Average output prices rise at record pace following near-record increase in costs

Back-to-back falls in new export business

The rate of global economic expansion eased to its weakest during the current 22-month sequence of increase in April, as slower growth of new orders and declining international trade flows stymied the upturn. Inflationary pressures built, as a near-record increase in input costs drove up output charges to the greatest extent in the survey history.
Please note that due to later-than-usual release dates, April manufacturing data for Greece, Indonesia, Ireland, Kazakhstan, Malaysia, Russia, Thailand, Turkey, the United Kingdom and Vietnam were not available for inclusion in the global numbers. Services data for Japan and Russia were also unavailable for inclusion.
The J.P.Morgan Global Composite Output Index – produced by J.P.Morgan and S&P Global in association with ISM and IFPSM – posted 51.0 in April, down from 52.7 in March. The outlook also became more subdued, with business optimism slipping to a 19-month low.

Olya Borichevska, Global Economist at J.P.Morgan, said:

“April saw the PMI Output Index drop by almost 2pts to its lowest level for two years, signaling a sizeable drop in the growth momentum of the global economy. However, much of this was focused in China and outside of China the global all-Industry PMI showed a much smaller 0.4-pt drop. More broadly, a lockdown-driven downturn in mainland China, the war in Ukraine and disruption caused by stretched supply chains and rising inflationary pressure have all sapped much of the vigor from the upturn. On the prices front, output charges rose to a record high rate and input costs to one of the greatest degrees on record“

https://www.markiteconomics.com/Public/Home/PressRelease/772fa2af717d4c629603f83ade20b9f6

Falky I think you're right

BoE are rasing interest rates to 2.5 one year from now, looking good for lloyds extra earnings from the loan book and buybacks, BoE have also announced (GDP) is forecast by the MPC to fall 0.25% next year before rebounding in 2024.

2024 lloyds might have a share price of 60p

https://www.proactiveinvestors.co.uk/companies/news/981549/bank-of-england-predicts-double-digit-inflation-this-year-and-recession-in-2023-981549.html

bobf
"once the buy back is complete around late July Lloyds will move north to mid 60's"

We are nearly half way through the buyback and the SP has dropped from when it was announced

Lloyds is always "jam tomorrow"

I see SP moving up as we head into summer, the demand for travel and holidays is now, the market's are looking at Q2 results and beyond looks like this has bottom out and looking to bounce

"British pound sinks nearly 2% against dollar, set for worst daily drop since March 2020"

Lloyds might see 60p in 2023

Bank of England raised interest rates but warned the economy was due to slow sharply over coming months

""The UK economy is a strange beast, that has caught out Economists for years. You read the doom and gloom stories, in the financial press""

It's ok looking out the window with rose tinted glasses on but sadly that's not how it works

New order growth slows amid record cost pressures

Key findings
Input cost inflation hits fresh record high

Activity and new business continue to rise, but at reduced rates

Business confidence lowest in a year-and-a- half

Although the UK service sector remained firmly inside growth territory during April, there were signs that sustained increases in the cost of doing business and the war in Ukraine combined to limit the pace of expansion at the start of the second quarter. In particular, new business growth slowed sharply and was the weakest in the year-to-date. Meanwhile, business confidence dropped to the lowest for a year-and- a-half.

Andrew Harker, Economics Director at S&P Global, which compiles the survey:

“The twin headwinds of the cost of living crisis and the war in Ukraine started to bite on the UK service sector during April, as evidenced by a sharp slowdown in new order growth to the lowest in the year so far. Worryingly, companies seem to be expecting impacts to be prolonged, with business confidence dropping to the lowest in a year-and-a-half.

https://www.markiteconomics.com/Public/Home/PressRelease/f8b88c871ce24753a8c305851f17175e

ALIEN METALS (@AlienMetals) tweeted at 8:49 am on Thu, May 05, 2022:
Alien CEO Bill Brodie Good standing on the Ridge E resource at the Han**** Iron Ore Project.

#UFO #AlienMetals https://t.co/0iCrSXvdd2
(https://twitter.com/AlienMetals/status/1522121196225110018?t=MoQDLom9x_vslBVeifJejA&s=03)

This is the problem with investing in lloyds it's a bellwether for the UK economy and the outlook isn't looking good, Donkey back in the stable gone lame again

Air France-KLM (AIRF.PA) posted a first-quarter core profit that landed ahead of its own forecasts, fuelled by a recovery in ticket sales and lower unit costs, the Franco-Dutch airline group said on Thursday.

https://www.reuters.com/business/aerospace-defense/air-france-klm-beats-earnings-forecasts-summer-bookings-take-off-2022-05-05/

May 5 (Reuters) - British new car sales fell about 16% in April, compared with a year earlier, prompting a downgrade to the full-year outlook, according to preliminary industry data released on Thursday.

The Society of Motor Manufacturers and Traders (SMMT) said 2022 outlook for new cars registered has been downgraded to 1.72 million from a prior forecast of 1.89 million.

FTSE 100 being called up to 80 points higher in early trades after US markets soared on the back of comments from Fed chair Jerome Powell

FTSE 100 was being called up to 80 points higher in early trades after US markets soared on the back of comments from Fed chair Jerome Powell

Oil
markets are clearly nervous that an even more hawkish that the federal open market committee might prompt a surge in volatility, but im hoping to see this back up tomorrow
GL

It is not difficult to work out why stocks are edging down this afternoon. The Fed’s rate hike move might be broadly priced in, but markets are clearly nervous that an even more hawkish FOMC might prompt a surge in volatility that could push indices back below last week’s lows

City trader's are cautious ahead of Fed rate decision