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Mirror prepares for staff cuts in digital shake up: Trinity Mirror, the media group that publishes the Daily Mirror as well as many local titles, is preparing to lay off 27 staff across both print and digital.

Employment picture brighter with wage growth up and jobless queue shrinking: Average weekly wages excluding bonuses rose by an inflation-busting 2.2% in March, official figures published this morning showed – a welcome relief for consumers

Savills beats forecasts despite pre-election market wobble: Real estate adviser Savills said trading in the year-to-date had beaten expectations and was “substantially” ahead of the same time last year, despite seeing a slowdown in home sales in the run-up to the General Election.

Surveyors say housing level at crisis point: House prices across the country climbed further last month as new listings fell at their fastest rate in six years, according to a new report published.

Wood Group confident despite challenges facing oil: Energy services giant Wood Group hailed the resilience of its business model as it said full year trading was expected to be in line with forecasts despite the challenges facing the oil industry.

Premier Oil expects delayed production from Shetland field to start this year: Premier Oil has said it expects to start production from the giant Solan field West of Shetland later this year after experiencing delays with the project.

Mondi shares jump 10% on strong start: Mondi shares jumped 10% after the international packaging group revealed a strong start to the year, with higher demand and lower costs. The FTSE 100-listed, Africa-based packaging giant said steady demand, and falling prices for the wood, energy and chemicals needed to make packaging and paper, have helped lower costs. The outlook for the rest of the year has also improved. Mondi said it had been able to increase the prices of its products across southern Europe and expects to raise them further in other areas later in the year. A recovery in the Russian rouble and higher selling prices for products in that country and South Africa also helped sales. Mondi generates about 60% of its total revenue by providing boxes to consumer giants such as Procter & Gamble, Nestle and Unilever to get their washing powder, toothpaste and tinned goods on supermarket shelves. The sector is also enjoying growing demand for packaging on goods ordered over the internet. Mondi has a number of uses for its spare cash, one of which could be tobuy smaller rivals. This would accelerate the already impressive revenue growth, and packaging sector experts say the European market is ripe for consolidation. The shares remain attractive, trading on 14.5 times forecast earnings and offering a prospective dividend yield of 2.5%. The company is enjoying strong pricing for its products and falling costs. We remain buyers for the long term. Mondi at £14.14+116p. Questor Says “Buy”.

The admirable Engelhardt to leave Admiral with grown-up issues: Henry Engelhardt, co-Founder and driving force behind insurer Admiral Group for 24 years, is to step down in a year. His monument is a FTSE 100 company that shook up the staid motor insurance market, but which is now struggling with the challenges maturity brings. Admiral has maximised returns by basing itself in south Wales, selling on chunks of risk at good prices to reinsurers and reaping large returns from “ancillaries”, including, in the past, referral fees from personal injury lawyers. The company prospered by selling cover to younger drivers who could not obtain it affordably from incumbents. The total shareholder return since the initial public offering has exceeded 800%. However, the stock has never recovered the heights reached in the summer of 2011. It has been held back by Admiral’s scale, underwriting overcapacity and reforms to curb the merry-go-round of referral fees. Admiral has notably failed to make profits from most of its overseas ventures. These include the U.S. operation run by Kevin Chidwick, a former Finance Director once tipped to replace Mr Engelhardt. Instead, Chief operating officer David Stevens will get the job. Mr Englehardt, 57, says he is stepping down to give younger colleagues a chance. But charity is required to describe Mr Stevens as one of these. He is 51, and may lack the radicalism needed to pull out of failed diversifications, particularly with his old Boss on hand as a part-timer.

SABMiller: the beer necessities: The brewer, which has a South African heritage, tells a plausible enough story. Around 70% of its revenue comes from Asia, Africa and Latin America, where middle-class incomes are growing but per-capita beer consumption is way below U.S. or European levels. Revenues in local currency terms grew by useful increments in the year to March: up 7% in Latin America and 9% in Africa. Even in mature markets, there was a little growth, helped by what the brewer terms “romancing” — giving key brands such as Pilsner Urquell and Miller Lite some extra love. SABMiller’s returns are reasonable. Margins improved in Latin America, Europe and North America, but fell in Asia and Africa. At group level, the return on capital is around 17%; comparable with, say, Diageo but less than Unilever or Nestlé, other popular plays on emerging consumer growth. SABMiller is a decent long-term play on emerging markets. But anyone buying in expectation of a frothy takeover premium could end up with the investment equivalent of a flat pint.

Tories must ‘clarify plans for homes,’ says Barratt Developments: David Cameron’s new Conservative administration needs to sit down with housebuilders to thrash out plans to deliver 200,000 cheap starter homes, the Chief Executive of Barratt Developments has said.

Bank of England Governor Mark Carney relaxed over global bond sell-off: Dramatic volatility in global bond markets, which has led to steep falls in the value of government bonds, should not be a cause for alarm, Bank of England Governor Mark Carney has said.

Prices rise as lack of new homes becomes a ‘national emergency’: Affordability and the chronic lack of new homes coming onto the market have become a “national emergency” as fresh evidence emerges that house prices are starting to creep up again across the country.

UK house price balance rose in April In the UK, house price balance rose to a level of 33.00 in April, compared to a revised level of 22.00 in the previous month.

UK ILO unemployment rate dropped in the January-March 2015 period The ILO unemployment rate eased to 5.50% in the January-March 2015 period, in the UK. In the December-February 2015 period, the ILO unemployment rate had registered a level of 5.60%. Employment in the UK advanced in March In the UK, employment advanced by 202.00 K in March, lower than market expectations of an advance of 225.00 K. Employment had recorded an increase of 248.00 K in the December-February 2015 period. UK claimant count rate remained steady in April In April, the claimant count rate in the UK remained unchanged at a level of 2.30%, compared to market expectations of a fall to a level of 2.20%. Number of unemployment benefits claimants in the UK declined in April In the UK, number of unemployment benefits claimants fell by 12.60 K in April, lower than market anticipations of a decline of 20.00 K. Number of unemployment benefits claimants had recorded a revised fall of 16.70 K in the previous month.

UK average earnings excluding bonus rose more than expected in the January-March 2015 period The average earnings excluding bonus in the UK recorded a rise of 2.20% in the January-March 2015 period on a YoY basis, higher than market expectations for an advance of 2.10%. In the December-February 2015 period, the average earnings excluding bonus had recorded a revised rise of 1.90%. UK average earnings including bonus rose more than expected in the January-March 2015 period In the January-March 2015 period, the average earnings including bonus recorded a rise of 1.90% in the UK on a YoY basis, compared to a rise of 1.70% in the December-February 2015 period. Market expectation was for the average earnings including bonus to advance 1.70%.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.25% or $0.17 lower at $66.64 per barrel. Yesterday, the contract declined 0.07% or $0.05, to settle at $66.81 per barrel, as IEA suggested a prolonged global battle for market share between OPEC and non-OPEC producers. On a separate note, a 2.2 million weekly decline in US crude inventories was reported by EIA.

Saudis claim oil price strategy success World’s largest crude exporter seeks to douse US shale surge

Our view: Housebuilders are likely to welcome the election result. At the top end of their product ranges, the Mansion Tax proposal had destroyed liquidity in the £1.5m+ segment of the housing market. Buyers will be more willing to look at high-price homes if they do not face the prospect of a large additional tax each year. Landbanks were under threat too. Builders like to have a reliable supply of land for future use, so acquire plots and rights to plots well ahead of the expected build date. A Labour policy to allow local authorities "use it, or lose it" powers over land was never going to be appreciated by the industry. Nor would the proposal to increase the proportion of social housing, whilst rent reform proposals could have reduced demand from buy-to-let investors. With the election now out of the way, Barratt can focus on making the most of housing market conditions that remain highly favourable. Record low interest rates and improving mortgage market conditions have kept the cost of mortgages down. So even though house prices have far outstripped growth in household incomes over the last couple of years, low mortgage rates have continued to support the demand for housing. Until interest rates rise (which doesn't look likely in the near term given inflation is still falling) this situation will likely persist and the housing market should continue to be well supported. There are other potential tailwinds too, such as recent stamp duty reforms (98% of buyers are expected to pay the same or less tax under the new regime), lower oil prices (which puts more money into buyers' pockets) and on-going shortages in the supply of new housing. This suggests Barratt's purple patch could last a while longer, as it continues to roll out more homes. But this situation can't last forever (interest rates will have to rise eventually). History suggests that when the next downturn in the housing market comes there will be nowhere for housebuilders to hide. This is especially so given that Barratt has historically traded at a discount to book value but today stands on a on a price to book ratio (P/B) of around 1.6x. While Barratt is in a real sweet spot at the moment, timing the exit will be important here, we feel.

Is a reflection of the substantial stake by Nigel Wray; the legendary private investor in Small Cap. sector over the past 25 years as well as the following facts: 1. The company is now adequately funded to accelerate growth in the next 12 months 2. Another private investor has increased his stake since the recent placing; see RNS relating to it. 3. The Commerce Bank increasing their stake in Tekcapital 4. The company is forecast to break even by the end of this year

The latest Moneyfacts UK Mortgage Trends report has revealed that average mortgage rates are continuing to fall, and notably, it's longer-term rates that are seeing the most significant reductions as competition intensifies in the sector. The figures show that the average two-year fixed rate fell by 0.02%, down from 2.97% to 2.95%, while long-term rates have reduced to an even greater extent - the average five-year fixed rate fell by 0.09% this month, down from 3.53% to a new record low of 3.44%. It's particularly interesting to note the comparison between two-year and five-year rates, and how far the averages have fallen in recent months: the average five-year rate is now considerably lower than the average two-year rate at this point last year (it stood at 3.62% in May 2014, and it was only in October when it fell below the current five-year rate), so in effect, providers are prepared to lend for three years longer for the same price. Analysis points to several influencing factors, but the higher margins of long-term deals appear to be key, allowing for further rate cuts. Consumers are also actively seeking longer-term deals - Moneyfacts' search figures show that demand for five-year mortgages has risen by 19.5% since the start of the year - and providers are accommodating, not only by cutting rates, but also by increasing product count (the number of five-year products available has risen by 40.7% year-on-year). Given providers' ongoing desire to secure borrowers ahead of a base rate rise, there's every possibility that the trend could continue.