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mining stocks jumped after a closely watched private survey of chinese factory activity showed manufacturing defying expectations and expanding in november, buoyed by stronger demand.

anglo american rose 4.0%, with an additional boost of an upgrade by ubs to 'buy' while anto***asta rose 2.1% as the swiss bank also raised the stock to 'buy'.

ufo up 5%

UK house prices have risen slightly for the third successive month in best results for nine months as investors have a more optimistic outlook for interest rates.

The latest Nationwide House Price Index shows UK house prices have grown 0.2 per cent from October to November, although they are still down two per cent on last year.

Nationwide’s chief economist, Robert Gardner, said: “While this remains weak, it is the strongest outturn for nine months.”

The year-on-year fall in prices has been driven by interest rate increases filtering through to the wider UK economy – not least in mortgage rates, which shot up earlier this year.

The FTSE 100 is expected to make a bright start after strong gains by US blue-chips and ahead of a raft of PMI readings in Europe, the UK and US.

Spread betting companies are calling London’s lead index up by around 42 points

"Governor Bailey says the UK outlook is worst I’ve seen"

The UK economy is booming London underground just reports four million journeys a day since pandemic, Heathrow 3rd busiest airport in the world car sales are best it's seen, what is he looking at 🤦

UK grocer Tesco Plc’s banking business is attracting initial interest from Lloyds Banking Group PLC (LSE:LLOY), people with knowledge of the matter said, according to Bloomberg.

Lloyds is among a number of suitors that have been studying a potential deal involving Tesco Bank, the people said, asking not to be identified because the information is private.

Deliberations are at an early stage, and there’s no certainty Lloyds will proceed with a formal offer. The structure of any potential transaction hasn’t been decided, and some bidders could opt to acquire Tesco Bank’s assets and liabilities rather than buy the entire operations

50p for Christmas with the Santa rally

Bank of America has highlighted that margin pressure and weak volumes on both sides of the balance sheet - which have weighed on UK domestic bank earnings and share prices - look a little better in October with spreads and volumes relatively stable.

BofA said it still sees deposit migration and spread compression into 2024 but some recovery in mortgage spreads and, potentially, volumes.

A broad product suite and range of brands appear to be helping buy rated Lloyds Banking Group PLC (LSE:LLOY) navigate this better than peers, supporting strong profitability and capital distributions, it said.

BofA said after a 20 basis point decline in September, new household deposit spreads fell just 2bp in October but remained high at c293bp with deposit volumes relatively stable in October, with households flat and 1% corporate outflows.

The investment bank noted mortgage approvals picked up in October, combined with falling mortgage rates and stabilising house prices, could be an early sign of a modest mortgage market recovery in 2024 which "we would expect to support mortgage spreads."

Lloyds Banking Group shares are 0.3% to the good

New data from the Lloyds Business Barometer showed that business confidence in London rose nine points to 56 per cent in November.

https://www.cityam.com/london-takes-business-crown-as-confidence-hits-highest-since-early-2022/

Business confidence rose to 42% in November, a three-point increase, to reach the highest level since February 2022, before the energy crisis which followed the outbreak of the war in Ukraine.

The rise in business confidence is significantly above the long-term average of 28%, and has been driven by increased trading prospects for the year ahead, greater optimism in the economy and more companies expecting to hire staff. The increase in November followed a three point rise in October, a sharp contrast to the 15% business confidence figure we say in October 2022.

https://www.lloydsbankinggroup.com/media/press-releases/2023/lloyds-bank-2023/november-2023-business-barometer.html

China’s demand for Australia’s iron ore is the gift which keeps on giving. It took off in the second half of 2005 and has helped to deliver the Australian economy an amazing $1.2 trillion since then.

After 18 years, the long boom in iron ore prices is still yielding about $32 billion in export revenue every three months according to the Department of Industry.

https://www.aspistrategist.org.au/the-australian-goose-that-lays-the-multi-billion-dollar-iron-ore-eggs/

BEIJING, Nov 29 (Reuters) - China's manufacturing activity likely contracted for a second consecutive month in November, a Reuters poll showed on Wednesday, keeping alive calls for further stimulus measures as factory owners struggle for orders both at home and abroad.

While the official purchasing managers' index (PMI) is expected to have improved to 49.7 in November from last month's unexpected drop to 49.5, the median forecast of 31 economists in a Reuters poll has the index staying below the 50-point level demarcating contraction from expansion

Economists appear in agreement that the economy is still largely struggling for traction despite some signs of green shoots in mixed October data, with all respondents returning readings between 49.0 and 50.2 and the vast majority predicting a small contraction of between 49.6 and 49.8.

The world's second-largest economy has been unable to mount a strong post-COVID recovery this year as a deep crisis in the property market, local government debt risks, slow global growth and geopolitical tensions dented momentum.

https://www.reuters.com/world/china/chinas-nov-factory-activity-likely-contracted-second-month-2023-11-29/

The company says it's "moving away" from the hybrid V6 supercar

https://www.motor1.com/news/698559/aston-martin-will-not-build-mid-engine-vanquish/

UK mortgage approvals rose more than expected in October, according to data by the Bank of England that suggests an easing in the housing downturn.

Net mortgage approvals for house purchases rose to 47,400 in October from 43,700 in September, data showed on Thursday - above the 45,000 forecast by economists but about 28% below its October 2019 level.

The FTSE 100 is expected to open lower while the pound climbed against the dollar after dovish remarks from officials of the US Federal Reserve.

Spread betting companies are calling London’s lead index down by around 20 points

Seaborne iron ore prices are set to climb to as much as $150 per ton in the first half of 2024, according to analysts who have lifted their estimates on expectations of increased demand in China after recent stimulus measures.

The price outlook compares with earlier estimates of $130 per ton, and Monday’s level of $135 per ton. It is, however, still far below the record $232.5 a ton reached in May 2021, according to data from consultancy Steelhome.

https://www.mining.com/web/iron-ore-price-poised-to-hit-150-in-2024-on-chinese-stimulus-analysts-say/

Https://youtube.com/shorts/tjC8eBT3_H8?si=3BoPcFg9War91q_c

Bobsson

""My prediction months ago was first ore along the highway in Q1/Q2 2025""

I agree nothing happens overnight with mining this is a good realistic time frame

Troy Whittaker, Chief Executive Officer commented:

"The signing of the Port MoU and settling key terms of the formal multi-user agreement are important steps as we continue to secure the supply chain from development, operations and to the end customer. We are confident Pilbara Ports has the capacity and capability to handle our tonnage at the port and we are delighted to have signed the MoU. We acknowledge Pilbara Ports efforts to facilitate port access for miners such as IOCA and we look forward to working closely with them as we finalise the the binding agreement and seek the require regulatory approvals."

The FTSE 100 is expected to make a subdued start to the day after falls in US markets.

Spread betting companies are calling London’s lead index down by around 17 points

If governor bailey and MPC didn't raise interest rates Lloyds would still be in the 20p price range some say he's a major shareholder