Member Info for livestock

U.K.-listed banks fell after NatWest cut its full-year net interest-margin guidance. Competition for savings and mortgage products, coupled with some regulatory pressure, mean banks are no longer seeing such a big gap between what they charge on borrowings compared with what they pay out for deposits, AJ Bell said.

https://www.morningstar.com/news/dow-jones/202310273603/european-midday-briefing-another-uk-bank-warning-hits-sector

Https://www.proactiveinvestors.co.uk/companies/news/1031217/the-nim-party-comes-to-an-end-for-lloyds-and-natwest-1031217.html

The FTSE 100 is expected to post modest gains when trading starts on Friday after a torrid week ahead of a US inflation reading.

Spread betting firms are calling London’s lead index up by around 20 points

US GDP surges 4.9% as consumers and government go large

LTI dose have a good point looking at your history none of your posts are related to Lloyds Banking your constantly disrupting the forum

Your not on Facebook

Lloyds took a lower-than-expected £187 million provision for customers it fears could default. Lloyds Banking Group Plc set aside less than expected for troubled loans in the third quarter, helping it to beat earnings expectations for the period and maintain its outlook for the year.

The FTSE 100 is expected to open sharply lower on Thursday after heavy falls in the US and ahead of the ECB interest rate decision.

Spread betting companies are calling London’s lead index down by around 44 points

NoahsArk

Thanks for the links

That was a good call selling when you did I didn't think it would drop as much as it has, 250 is my break even point I imagine next week figures will be good just hope they show the debt is coming down and the share price changes direction

Looks like the sell off in luxury car brands has hit Porsche today as Tesla last week higher borrowing costs have prevented potential customers from affording its vehicles, Rising inflation and economic uncertainty have curbed shoppers' appetite for luxury after years of blockbuster demand

This is related to Aston Martin Admin don't delete this post 🤦

Https://youtu.be/9N5s1z7-JnI?si=eUxWjko38YOtnbSn

HCOB Flash Germany PMI

German economy remains in contraction in October

Key findings:

HCOB Flash Germany Composite PMI Output Index(1) at 45.8 (Sep: 46.4). 2-month low.

HCOB Flash Germany Services PMI Business Activity Index(2) at 48.0 (Sep: 50.3). 2-month low.

HCOB Flash Germany Manufacturing PMI Output Index(4) at 41.4 (Sep: 38.7). 4-month high.

HCOB Flash Germany Manufacturing PMI

(3) at 40.7 (Sep: 39.6). 5-month high.

Data were collected 12-20 October

The German economy remained in contraction at the start of the fourth quarter, according to latest HCOB ‘flash’ PMI® survey

compiled by S&P Global. Manufacturing remained the main drag, although October also saw a renewed decline in the service

sector. There further signs of weakness in activity spilling over to the labour market as employment fell for the second month

running and at a slightly quicker pace. The mood among businesses remained one of pessimism.

On the price front, the rate of inflation in average prices charged for goods and services was up just a fraction from September’s

two-and-a-half year low. Cost pressures subsided, albeit with service providers still reporting steep increases in their operating

expenses.

The eurozone economy has suffered its worst month for three years amid warnings recession in Germany is ‘well under way’.

Data provider S&P Global said its so-called purchasing managers’ index (PMI) of private sector activity in the single currency bloc fell to 46.5 in October.

https://www.thisismoney.co.uk/money/markets/article-12667375/German-recession-way-eurozone-woes-deepen.html?ito=native_share_article-nativemenubutton

Deutsche Bank up 7%

Santander reports attributable profit of €8,143 million for the first nine months, increasing earnings per share by 17%

https://www.santander.com/en/press-room/press-releases/2023/10/q3-2023-santander-bank-results

Deutsche Bank reports nine-month 2023 profit before tax of € 5.0 billion and raises capital outlook

https://www.db.com/news/detail/20231025-deutsche-bank-reports-on-the-third-quarter-results-of-2023?language_id=1

Share price is up

Https://www.proactiveinvestors.co.uk/companies/news/1030880/ftse-100-live-lloyds-profit-tops-forecasts-reckitt-s-1bn-buyback-1030880.html

Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said:

“The UK economy continued to skirt with recession in October, as the increased cost of living, higher interest rates and falling exports were widely blamed on a third month of falling output.

“The overall pace of decline remains only modest, signalling a mere 0.1% quarterly rate of GDP decline, but gloom about the outlook has intensified in the uncertain economic climate, boding ill for output in the coming months. A recession, albeit only mild at present, cannot be ruled out.

“Encouragingly, cost pressures have continued to moderate, in part helped by reports of lower wage inflation and further falls in prices charged by manufactures. However, selling price inflation for services remains somewhat elevated, and even ticked higher in October, pointing to some stickiness of headline inflation around the 4% mark into the early months of next year.

“In this context, any upward inflation pressures due to higher oil prices will be a major concern, meaning it would be unlikely for policymakers to rule out the possibility of rates rising again later in the year.”

UK private sector output declines for third month running in October

Key findings:

Flash UK PMI Composite Output Index(1) at 48.6 (Sep: 48.5). 2-month high.

Flash UK Services PMI Business Activity Index(2) at 49.2 (Sep: 49.3). 9-month low.

Flash UK Manufacturing Output Index(3) at 45.3 (Sep: 44.6). 3-month high.

Flash UK Manufacturing PMI(4) at 45.2 (Sep: 44.3). 3-month high.

Data were collected 12-20 October

S&P Global / CIPS Flash UK PMI Composite Output Index

Business activity decreased again across the UK private sector economy during October. Lower output was seen in both the manufacturing and service sectors, with the former posting the sharper rate of decline.

The latest survey also pointed to modest reductions in new order volumes and staffing numbers at private sector firms. Concerns about the outlook for business and consumer spending meant that output growth expectations for the year ahead were the lowest since December 2022.

At 48.6 in October, the headline seasonally adjusted S&P Global / CIPS Flash UK Composite Output Index was up fractionally from 48.5 in September but below the 50.0 no-change mark for the third month running. The latest reading signalled a modest reduction in private sector output, which contrasted with an upward trend on average during the first half of 2023.

https://www.pmi.spglobal.com/Public/Home/PressRelease/d61f3b62740c45c2890d759a0afed489

Oct 24 (Reuters) - Italy's UniCredit (CRDI.MI) on Tuesday beat third-quarter profit forecasts as higher rates boosted income, but kept its full-year profit goal, saying it needed time to decide how to best use this year's "exceptional" growth in earnings.

A higher cost of credit has fuelled record bank profits in recent quarters, but uncertainty has risen, with geopolitical risks adding to strains on the economy from stubbornly high inflation and fast-shrinking loan volumes.

Unicredit, Italy's only bank considered to be of global systemic relevance, said net profit was 2.3 billion euros ($2.5 billion) in the three months through September, well above a consensus forecast by the bank of 1.9 billion euros and up 36% from a year ago.

The FTSE 100 opened lower weighed down by falls in the banking sector after mixed results from high street lender, Barclays.

At 8:15am, London’s lead index was down 3.78 points at 7,371.05 while the FTSE 250 rose 28.03 points, 0.2%, at 17,087.02.

Barclays reported better-than-expected profits in the third quarter but lowered UK net interest margin guidance and flagged a charge in the fourth quarter due to restructuring.

Shore Capital’s Gary Greenwood described it as “a low-quality earnings beat primarily due to a better than expected impairment charge.”

He noted net interest margin guidance was downgraded again, given deposit pricing and mix changes, which could provide negative read across elsewhere.

Matt Britzman, equity analyst at Hargreaves Lansdown described it as “a mixed quarter for Barclays.”

“Higher rates are still providing a healthy tailwind, more than offsetting the impact of a weaker mortgage market and a shift in deposit levels.”

“But it well and truly looks like net interest margin has peaked for the UK arm, with full-year guidance pulled lower.”

Shares in Barclays fell 6.6% dragging Lloyds and NatWest down by 3.0% and 2.6% respectively.