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Australia, June 15 (Reuters) - Iron ore is engaging in a familiar dance of flitting between hopes of more and effective economic stimulus in China, and the reality that the rebound in the world's second-biggest economy is sputtering.

The spot price of iron ore has gyrated in recent weeks, driven by hopes for more stimulus from Beijing and concerns that the run of soft economic indicators is likely to extend.

China buys more than 70% of the total volume of global seaborne iron ore and produces just over half of the world's steel, making its economic conditions key to the outlook for the main raw material for steel.

https://www.reuters.com/markets/commodities/iron-ore-dances-between-china-stimulus-optimism-soft-economic-reality-russell-2023-06-15/

Natwest boss Dame Alison Rose said the bank was seeing “no material signs of distress” in its loan book despite the impact of rising interest rates.

Speaking at the Goldman Sachs financial conference, Rose said: “We have seen no increase in defaults or impairments and the same on the business side… What we’ve actually seen is an increase in confidence.”

Https://youtu.be/M-b5_joId-E

Https://www.reuters.com/markets/europe/sterling-rises-uk-side-steps-recession-red-hot-inflation-rattles-traders-2023-06-14/

Https://www.reuters.com/markets/rates-bonds/bank-england-press-with-rate-hikes-peak-500-q3-2023-06-14/

AML up 4%

BARK up 41.33%

Jefferies raises Aston Martin to 'hold' (underperform) price target 300 (160) pence

Britain’s economy returned to growth in April, official data show, after a contraction the month before.

Gross domestic product (GDP) rose by 0.2pc, according to the Office for National Statistics, having shrunk by 0.3pc in March.

The economy grew by 0.1pc in the three months to April, leaving it 0.3pc bigger than pre-pandemic levels.

https://www.telegraph.co.uk/business/2023/06/14/ftse-100-markets-live-news-economy-ons-gdp-latest/

Iron ore 114.00 up 2.24%

13 June 2023, New York City, USA: Where Savile Row meets Park Avenue. Aston Martin proudly opens the doors to Q New York, its first ultra-luxury flagship on 450 Park Avenue, in New York City.

https://media.astonmartin.com/aston-martin-unveils-its-first-ultra-luxury-flagship-q-new-york/

Official figures show that Britain’s unemployment rate has fallen unexpectedly as the number of people in work hit a record high and rose past its pre-pandemic level for the first time.

The Office for National Statistics said Tuesday that the jobless rate fell to 3.8% in the three months to April, from 3.9% in the previous quarter. Most economists were expecting the rate to edge up to 4%.

As the unemployment rate fell, the agency said, the country's employment rate rose to 76% from 75.9%, with the number of people in work at an all-time high of 33.1 million.

China's central bank cut its seven-day reverse repurchase rate by 10 basis points from 2% to 1.9%.

The FTSE 100 is expected to open higher as investors hope cooling US inflation figures today will be enough to prompt the US Federal Reserve to hold interest rates at this week’s meeting.

Spread betting companies are calling London’s lead index up by around 35 points

Https://www.mining.com/iron-ore-price-falls-nearly-4-after-goldmans-china-property-warning/

111.50 down 3.46%

https://tradingeconomics.com/commodity/iron-ore

EYAUH

https://www.reuters.com/world/uk/uks-unite-says-heathrow-strike-postponed-after-better-pay-offer-2023-06-12/

EYAUH

https://www.unitetheunion.org/news-events/news/2023/june/pay-strikes-announced-at-heathrow-as-airport-set-for-summer-of-strife/

EYAUH

The vote for the new offer closes 23 June

Britain will likely stave off a recession this year, according to the Confederation of British Industry (CBI), as falling energy prices pave the way for marginal economic growth.

A 0.4% expansion of the economy should be recorded this year, ahead of 1.8% growth in 2024, the CBI forecast, thanks to falling energy prices, China’s post-Covid reopening and easing supply chains.

The CBI issued caution over the raised forecast though, which was up from a previously predicted 0.4% fall for 2023 and a less substantial 1.6% jump next year.

“While encouraging, there's no getting away from the fact that this year will be another tough one for both businesses and households,” CBI economist Alpesh Paleja commented.

“The UK is underperforming on many of the areas crucial to our long-term prosperity, such as business investment and trade intensity.”

Paleja dubbed the signs “concerning”, with the CBI predicting business investment to only top pre-pandemic levels by the end of next year, with Brexit concerns playing a key role in prompting caution among firms.

Accountant KPMG also raised forecasts for the UK economy, now anticipating a 0.3% rise, rather than just 0.1%, based on a better-than-expected start to the year.

“Risks are still elevated” though, according to KPMG, “stickier inflation will see monetary policy tightening even further, increasing the risk of unwelcome side effects, among other potential headwinds”.

Summer strikes to be called off a deal going to get accepted