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Barratt Developments
12 сентября, 16:23

Renewed hike hopes lift pound to one-year high against dollar as rising inflation tightens the squeeze on UK households 

UK inflation rises to 2.9pc in August; higher than expected and a jump from July's 2.6pc rate  Pound rallies on currency markets as interest rate hike hopes are renewed by the pick-up in inflation Pound at highest level against the dollar in a year; trading 0.7pc higher at $1.3267 FTSE 100 retreats, hurt by the stronger pound; rental firm Ashtead leads the blue-chip leaderboard after saying that it expects a pick-up in demand in the aftermath of Hurricane Irma Housebuilders drop as Redrow boss sells stake in the company, stoking fears that the sector has already peaked UK inflation jumped to 2.9pc in August, the ONS revealed this morning, tightening the squeeze on households already suffering from the gap between rising prices and sluggish wage growth. With inflation well above the Bank of England's 2pc target, the pound soared on currency markets as hopes of an interest rate hike before the end of the year were revived by the figures. The Bank of England will decide on Thursday whether to raise rates in order to curb inflation with today's higher-than-expected pick-up cranking up the pressure on the central bank's policymakers. The ONS said that the fastest rise in clothing and shoe prices in 30 years bumped up the figures but that food inflation slowed, lowering the pressure on the weekly shop. 5:53PM Markets wrap: Inflation pick-up sends pound soaring to one-year high against dollar Today's inflation figure will crank up the pressure on Mark Carney and the Bank of England's MPC The pound has surged to his highest level against the dollar in a year after the ONS revealed that inflation jumped to 2.9pc, cranking up the pressure on Bank of England policymakers to hike interest rates to ease the squeeze on UK households. The markets are now putting the chance of a rate hike before the end of the year at close to a coin flip and the negative effect of the pound's rise on London's big exporters pulled down the FTSE 100 as stocks in the rest of Europe and the US continued to rebound. Housebuilders retreated as investors worried that the sector has reached its peak after directors at Redrow and Berkeley sold big stakes in the space of a few days while rental firm Ashtead rose to the top of the FTSE 100 as it predicted increased earnings from the aftermath of Hurricane Irma. IG market analyst Joshua Mahony said this on today's markets: "This morning’s FTSE gains proved fleeting, as a rise in UK inflation raised the prospect that the Bank of England’s monetary policy makers turn more hawkish. This drew investors into the pound to the detriment of the FTSE 100. "A sharp appreciation in inflation has put greater pressure on the BoE to provide a more hawkish outlook on Thursday, pushing the pound to a one-year high against the dollar." 4:22PM Inflation jumps to 2.9pc as prices for clothes and shoes rise at the fastest rate for 30 years CPI Price rises accelerated in August as costs for clothes, shoes, furniture and telephones all picked up pace. Inflation hit 2.9pc, the Office for National Statistics said, up from 2.6pc in the 12 months to July and the highest level since May, indicating that the fall back in price pressures in June and July may have been a blip in the upward trend. The weak pound has pushed up import prices and that has fed through into costs for shoppers, hitting households in the pocket. Read Tim Wallace's full report here 4:19PM Brent crude pushes past $54 per barrel as OPEC production falls for first time since March Brent crude has jumped 0.7pc today on the report Brent crude has pushed past $54 per barrel this afternoon after fresh data from OPEC showed a fall in production for the first time since March. The oil cartel's output fell by 79,100 in July as it tries to rebalance the market and  reduce the glut of oil stocks weighing on prices. OPEC also forecast higher oil demand in 2018, indicating that a tighter market will support future prices. CMC Markets David Madden commented: "The major oil producers clearly mean business now, as at the start of the summer we saw production actually rise from some members.   "OPEC’s production freeze will last until the end of March 2018, and Saudi Arabia is floating the idea of extending the production cut until the end of June 2018."  #OPEC sees #oil market tightening: Forecasts 2018 demand for its crude will average 32.83 million bpd, up 410,000 bpd vs Aug forecast #OOTTpic.twitter.com/d9wWSKtY5R— Christopher Johnson (@chris1reuters) September 12, 2017 3:59PM Gap between inflation and public sector pay highlighted The Government announced today that the pay cap on police and prison staff had been lifted  Many on social media are highlighting the gap between the jump in inflation to 2.9pc and police officer pay rising below that figure to 2pc. Today's pay increase announcement have been described as "derisory" by the TUC and tomorrow's wage growth figures could bring the subject back into focus again. Wage growth is expected to nudge up to 2.2pc, a 0.1 percentage point increase, in tomorrow's figures, lagging far behind inflation. Probably not your strongest timing Phil. So inflation is 2.9%. Police and prison officers are getting a 2% pay rise. Not an expert but my calculator keeps saying it's a pay cut!— Ian Warren (@election_data) September 12, 2017 Just a little bit of housekeeping to do on the economics front in the US. JOLTS job openings inched up to a fresh record of 6170, ahead of expectations. It hasn't done much to lift the dollar today, however, sterling is still trading 0.7pc higher against the greenback. Markets in the UK have been dominated by this morning's inflation reading, according to Spreadex analyst Connor Campbell. He commented on sterling's rise: "That took the pound to some important markers; cable is now sitting pretty at above $1.326 at a one year peak, while against the euro sterling has climbed to a fresh 6 week high. "These gains had important ramifications for the rest of the markets. First and foremost it prevented the FTSE from joining in with the gains seen elsewhere, instead sending the UK index back below 7400 – if only just – with a 0.1% dip."  3:19PM Murdoch faces broadcasting standards investigation over Fox's £11.7bn takeover of Sky Rupert Murdoch and his sons James and Lachlan are making a second bid for full control of Sky The Murdoch family faces a six-month investigation of their record as broadcasters and commitment to editorial standards following a Government decision that will mean a further delay in their £11.7bn bid to take full control of Sky. The Culture Secretary Karen Bradley said that in light of new representations on 21st Century's Fox's compliance record and its handling of sexual harassment allegations at Fox News, she was minded to trigger a double investigation by the Competition and Markets Authority (CMA). A broadcasting standards investigation will run alongside a previously planned probe of the impact of the deal on the public interest in media plurality, amid fears it would grant the Murdochs too much sway over news. Read Christopher Williams' full report here 3:16PM Merger talks that led to 'Clarkson moment' between AA bosses are off Bob Mackenzie CEO of the AA at their London HQ in Covent Garden Merger talks between the AA and insurance rival Hastings, which allegedly led to a Jeremy Clarkson-style brawl between the AA's former chairman and its insurance head are now off, Hastings said Tuesday. While the roadside recovery business confirmed it had spoken to Hastings earlier in the summer about a potential tie-up with its insurance arm, Hastings said in a separate statement that those talks were now off.   That ends a process that caused such a divide between AA's ex-chairman Bob Mackenzie and insurance boss Michael Lloyd that it was allegedly the trigger for a physical fight in a hotel bar earlier this year.  Mr Mackenzie was then sacked for "gross misconduct" in a move that wiped £200m from the AA's value in one day. However his son Peter has refuted the allegations, instead insisting his father resigned due to ill health.  Read Lucy Burton's full report here 2:51PM US stocks nudge up; Apple shares rise ahead of much anticipated iPhone release Apple will unveil the next iPhone at 6pm (BST) US stocks have opened higher at the opening bell in New York, leaving the FTSE 100 the only major index retreating today. The S&P 500, which closed at a record high of 2488.11 yesterday, has continued its ascent and reached a fresh all-time intraday high. With the latest iPhone due to be unveiled at 6pm (BST), Apple shares will be one to keep an eye on this afternoon. Ahead of the much anticipated release, shares are up 0.4pc but are expected to bounce around during the presentation later on. Meanwhile in Europe, the FTSE 100 has stabilised at a 0.4pc loss for the session as the pound dominates on the currency markets but the CAC 40 and DAX are enjoying a 0.6pc jump on rising risk appetite. 2:22PM Is this the top of the market for housebuilders? Redrow share price sinks after chairman sells shares Redrow's share price has sunk more than 8pc The chairman of housebuilder Redrow has sold off part of his stake in the company he founded, spooking investors that he could be calling the top of the market, and sending its share price down more than 8pc. Steve Morgan, who last week announced that he would "ease back" from his executive role this year, sold around a fifth of his 40pc stake in the business. That represents roughly 7pc of the total share capital; he still owns more than a third of Redrow's shares.  It comes a week after the founder and chairman of Berkeley Homes, Tony Pidgley, sold 750,000 shares in the housebuilder, pocketing £26.8m. Despite this selloff he remains the fourth-largest shareholder in the housebuilder. Analysts at Jefferies said that he "still has a lot of skin in the game". Read Isabelle Fraser's full report here 2:11PM Pound only at one-month high against basket of leading currencies Against a basket of the leading global currencies, the pound only hit a one-month high Just a sniff of an interest rate hike is enough to send the pound soaring on currency markets but it's worth bearing in mind that, while sterling has reached a one-year high against the dollar, against a basket of the leading global currencies it is only at a one-month high. A weaker dollar, which has been pulled down this year by the chaos at the White House and fears that sluggish inflation in the US could slow the pace of rate rises, is equally responsible for the recent surge. 1:52PM Leonardo joins bid to provide 'private airforce' for RAF to train against Britain's Typhoon pilots could find themselves battling civilian flown aircraft in mock dogfights Defence group Leonardo has joined a consortium hoping to land a massive contract that ultimately aims to supply a “private air force” for the RAF to train against. The international company’s UK arm has joined forces with Canada’s Discovery Air Defence and Britain’s Inzpire to bid for a contract providing live air training that could be worth as much as £1.5bn. Known as Air Defence and Operational Support (ASDOT), the contract could run for up to 10 years. It is eventually expected see private companies provide “enemy” fighters flown by civilians for RAF pilots to battle in mock dogfights, as well training pilots and servicemen and women in areas such as electronic warfare such as jamming radar signals, and calling in aircraft to launch strikes on the ground targets. Read Alan Tovey's full report here 1:43PM Pound jumps to one-year high against the dollar on interest rate hike hopes The pound has jumped to its highest level against the dollar in a year The pound's surge on the currency markets following the uptick in inflation has lifted it to its highest level against the dollar in a year. The recent economic strength of the eurozone and sterling's summer drift downwards against the euro means that it's only at a one-month high against the currency, however, trading 1pc higher at €1.119. $GBP Core CPI 2.7% in August - and more is on the cards in coming years, unless BoE tightens.. We like short EUR/GBP in to year-end #BoEpic.twitter.com/RwxoOaymU5— AndreasStenoLarsen (@AndreasSteno) September 12, 2017 Lukman Otunuga, research analyst at FXTM, believes the hawks calling for an interest rate hike at the Bank of England will find new impetus from today's figures. He said: "With UK inflation rates finding comfort well above the Bank of England’s 2% target, as the Brexit-fuelled Pound weakness boosts import costs, BoE hawks may make an appearance during Thursday’s policy meeting. While rising inflation is likely to support expectations over the Bank of England raising UK interest rates, it still unclear as to when and how this will occur.   "It should be kept in mind that elevated inflation levels have pressured households this year, and this will continue to negatively impact the outlook of the economy. With wage growth still struggling to keep up with inflation, concerns are mounting over the sustainability of the UK’s consumer-driven economic growth. BoE policy makers are under fresh pressure to take action, and Wednesday’s UK labour market data, which will be in sharp focus, could act as a catalyst for an unexpected surprise this year.   "The big question is, will the jump in UK consumer prices prompt the BoE to raise rates quicker than anticipated?" 1:09PM Competition watchdog clears Amec Foster Wheeler's North Sea sell-off plans The CMA has said that Amec Foster Wheeler’s plan to sell off its North Sea business would be enough to assuage its concerns The Competition and Markets Authority has cleared the way for an oil-services mega-merger after agreeing that Amec Foster Wheeler’s plan to sell off its North Sea business would be enough to assuage its concerns over the Wood Group takeover. The CMA took only one month to review the plans together with feedback from interested parties before approving plans for Amec Foster Wheeler to sell the majority of its North Sea assets and contracts as a package, well before its decision deadline. The pair anticipated the competition concerns surrounding their £2.2bn merger and are understood to have started talks with potential buyers as early as May this year. Both private equity and strategic investors are said to be circling the assets. The takeover raised eyebrows earlier this year amid fears that the pair, which both hold a substantial stake of the North Sea’s oil services market, would be able to wield its dominance to crush market competition. Read Jillian Ambrose's full report here 12:49PM Lunchtime update: Pound soars on currency markets as inflation pick-up renews hike hopes The Bank of England's MPC will meet on Thursday to decide whether to hike rates The pound has soared on the currency markets this morning as the pick-up in inflation to 2.9pc cranked up the pressure on Bank of England policymakers to hike interest rates to ease the squeeze on households. Although the market believes a hike in 2017 is still unlikely, pricing in a 35.6pc chance of a rise before the end of the year, today's rise due to an increase in clothing and shoe prices has renewed hawkish hopes. On the stock market, the pound's rally has punctured the FTSE 100 with housebuilders the biggest losers in London this morning as fears that the sector has reached its peak were stoked by Redrow's chairman selling a stake in the company. Accendo Markets head of research Mike Van Dulken commented on this morning's action: "Equities are mixed this morning, but not for want of underlying risk appetite as recent market take a back seat. While Dow futures and Germany's DAX push further north the FTSE is the odd one out, nursing minor losses, after strong UK inflation data sent the pound higher to the detriment of its significant international exposure.  "The German DAX outperforms thanks to EUR/USD holding around yesterday's 3-day lows, helping industrials/exporters while banks embrace this week's general risk-on mentality. The UK FTSE 100 is just the wrong side of breakeven, hindered by the pound's strength." 12:37PM Gold retreats following strong rally based on geopolitical fears Gold enjoyed a strong rally last week on geopolitical fears but has retreated today Gold prices are suffering a second day of decline as risk appetite returns to normal after markets wobbled on North Korea and Hurricane Irma fears. The price has retreated back down to $1.323.99 per ounce, a 1.7pc decline this week, after rallying last week on the geopolitical fears. Precious metal miners Fresnillo and Randgold Resources, whose share prices are wedded to the price of gold, have fallen to the bottom of the FTSE 100 as a result. 12:07PM SMEs will be hit by pick-up in RPI; house price inflation steady House price inflation has nudged up to 5.1pc Although slightly lost underneath the headline CPI figure this morning, the ONS also revealed that retail price inflation increased to 3.9pc while house price inflation nudged up to 5.1pc, both ahead of expectations. With business rates linked to RPI, SMEs will face higher tax bills as a result of the pick-up. Mike Cherry, Federation of Small Businesses national chairman, said that the pick-up in retail price inflation will make business rates unaffordable. He said: "Today’s increase in inflation will add to cost pressures facing the small business community. Confirmation of this month’s RPI is another huge blow, as it will add almost four percent to every single business rates bill next year.  "It’s hard to understand why the Government insists on using this outdated measure of inflation rather than the more widely accepted CPI, which it has pledged to use from 2020. With a weakening economy, CPI-indexation should be brought forward to 2018." Adrian Moloney, sales director at OneSavings Bank commented that the housing supply shortage is supporting property prices but that buyers continue to "walk a narrow tightrope to home ownership". He added: "On the one hand, strong employment growth and historically low mortgage rates are supporting buyer demand, but on the other, stagnant wage growth is being outstripped by consumer prices, making homes less affordable. "Mortgage approval levels recovered last month, suggesting a small rebound in consumer confidence and affordability, despite the enduring economic unknowns that continue to cloud the long-term view." 11:40AM Redrow chairman stake sale stokes investor jitters Steve Morgan has slashed his stake in Redrow Redrow chairman Steve Morgan selling a significant stake in the company has pulled down the entire housebuilding sector this morning, the sale coming just days after Berekley's boss also reduced his stake. The two stake sales have caused a few jitters among investors fearing that the the housebuilding sector may have reached its peak and soon be on the decline. Taylor Wimpey's 1.9pc fall is one of the sharpest on the FTSE 100 this morning while Redrow's 8.2pc plummet makes it the biggest laggard on the mid-cap index. UBS analyst Miguel Borrega points out that numerous factors will still support growth in the sector: "We highlight the market is now supported by "(1) low interest rates; "(2) structural undersupply; "(3) supportive land market with limited competition allowing for attractive returns; "(4) Government support in the form of Help-to-Buy and planning reform." Anthony Codling, an analyst at Jefferies, commented that he did not believe that " the silverback alpha males in the sector are calling the top of the market" through their stake disposals. 11:08AM Tasty issues unappetising update with fears about consumer spending squeeze extending into next year Trading conditions have become tough in the restaurant sector with various cost pressures hitting at a time of reduced consumer confidence Tough trading conditions in the restaurant sector have prompted operator Tasty to take a multi-million pound write-down on some of its sites as it predicted the consumer spending squeeze would extend into 2018. The owner of the Wildwood and dim t chains of restaurants said the entire sector had been suffering a slowdown since the beginning of 2017 and that this was set to continue into next year. “This is not unique to the group or any particular area but appears to be a nationwide problem, particularly evident in London, and has impacted turnover and profit,” said chairman Keith Lassman. These fears appear to have spooked shareholders with the stock down nearly 11pc to 37.5p in early trading. While total sales rose nearly 12pc to £24.3m for the six months to July 2, this was entirely down to new openings. Read Bradley Gerrard's full report here 10:51AM Inflation rise reaction: what the experts say UK inflation rose to 2.9% in August, extending the decline in real wages. Only increased indebtedness keeps consumption from declining pic.twitter.com/dsmcoSPogT— Ulrik Bie (@UlrikBie) September 12, 2017 Let's have a quick round-up on what the experts are saying on today's spike in inflation. We'll begin with Howard Archer, chief economic advisor at the EY ITEM club, who believes that inflation should be close to its peak. He said: "Sterling’s past sharp drop should have now largely fed through the pricing chain. Meanwhile, ongoing slow earning growth and lacklustre economic activity should limit domestic inflationary price pressures. Additionally, oil prices remain relatively low.   "Consequently, we believe there is a strong chance that CPI will be back to 2% by the end of 2018." Nomura sticking by its out-of-consensus call for a UK rate hike in November after today's inflation comes in higher than expected.— Jamie McGeever (@ReutersJamie) September 12, 2017 Investec economist Philip Shaw commented that this rise shouldn't be enough to move MPC members on interest rates. He said: "Our feeling is still that the MPC will be reluctant to tighten policy until it sees firm evidence that pay growth is strengthening well above the prevailing pace of close to 2%. We view this to be unlikely until the economy gains a degree of traction and there is less uncertainty over the UK’s post-Brexit arrangements. "Partly on this judgement we still see the committee maintaining the current stance of policy until 2019. July’s earnings data, plus other labour market metrics, are due tomorrow and it will be interesting to see the importance the MPC places on them when the minutes to the meeting are published on Thursday." Also here's our economic correspondent Tim Wallace's full report on this morning's figures.  10:26AM Housebuilders fall on Redrow stake sale and bearish sector note Housebuilder Redrow $RDW shares take a dive after chairman's charitable trust sells out at 590p, vs yesterday's closing price of 633p pic.twitter.com/xMKQel0DHB— Ian Smith (@iankmsmith) September 12, 2017 That spike in the pound has turned a stagnant session for the FTSE 100 into a negative one with the index now 0.2pc lower. Housebuilders are taking the biggest beating in London this morning with Redrow diving over 8pc after its chairman Steve Morgan sold a huge stake in the FTSE 250 company. The share placing and a bearish note on the sector from Bank of America Merrill Lynch hinting that housebuilders might have hit their peak already has pulled pulled down the FTSE 100 housebuilders with Taylor Wimpey, Barratt Developments and Persimmon all retreating just under 2pc. IG chief market analyst Chris Beauchamp said on the housebuilders' fall this morning: "Despite further evidence of UK house price growth, housebuilder shares have taken a knock  this morning as the chairman of Redrow takes the opportunity to offload some of his stake, in the wake of a bounce in the shares last week. "Given the near 50% appreciation in the shares from January until the end of last week, it doesn’t seem like a sign that the top is near, and in all likelihood there will be plenty of buyers keen to snap up some shares at a cheaper price than seen of late." 10:06AM Inflation rise reaction: Sterling depreciation will fall out of the year-on-year calculation soon ����#UK CPI #inflation was 2.9% in August => real wage squeze => sluggish #GDP growth pic.twitter.com/p4IxzmT44W— Danske Bank Research (@Danske_Research) September 12, 2017 CABLE doing a runner here on UK inflation data on read to Thurs #BoE mtg as both CPI & PPI above expects, GBPUSD last 1.3266 #CABLE#GBPUSDpic.twitter.com/6TZo4jOW1q— stephen garrett (@sgarret13) September 12, 2017 Today's inflation pick-up is slightly higher than the Bank of England's own 2.7pc estimate and way ahead of the central bank's 2pc target but Ben Brettell, senior economist at Hargreaves Lansdown, believes that that 2.9pc could be inflation's peak as sterling's weakness soon falls out of the year-on-year calculation. Mr Brettell added that the long-term inflationary pressures are still absent: "Beyond the currency effect there appear to be few underlying inflationary pressures. Labour costs are the main factor in domestic inflation, and growth here remains below long-term averages. Productivity growth is sluggish, and technological changes look to be suppressing wages, with the likes of Uber, Amazon and Netflix disrupting traditional industries.   "Furthermore we need to consider demographics. The baby boomers are retiring in their droves. They have already gone through their consumption phase – they have bought their houses, cars and consumer goods. The generation behind them is saddled with debt and struggling to get on the housing ladder.   "All in all I see more deflationary forces than inflationary in the world economy at present." 9:46AM Inflation key takeaways  Contributions to the CPIH 12-month rate   Inflation rose to 2.9pc in August, up from 2.6pc the previous month and higher than the expected 2.8pc increase. Rising prices for clothing and motor fuel were the main contributors to the pick-up. Air fares rose between July and August but the smaller rise compared to last year weighed on inflation. Renewed hike hopes push pound up to $1.3250 against the dollar, a 0.5pc advance, and €1.1077 against the euro, a 0.6pc gain. 9:33AM UK inflation picks up to 2.9pc, higher than expected Bank of England governor Mark Carney UK inflation rose to 2.9pc in August, figures just released by the ONS have revealed, up from 2.6pc the previous month and higher than the expected 2.8pc pick-up.  The increase lifting hawkish hopes of a rate rise has pushed the pound up on currency markets. It's now trading 0.5pc higher against the dollar at $1.3237. 9:18AM UK inflation preview: what the experts say RBC on UK inflation: Look for 2.8% Y/Y as a reflection of GBP depreciation. Exp. CPI to peak at 3.1% in October before pulling back in 2018— RANsquawk (@RANsquawk) September 12, 2017 Let's have a quick round-up of what analysts are saying before this morning's figures. CMC Markets analyst Michael Hewson describes last year's emergency change in monetary policy after the EU referendum as a "self-inflicted wound". He added: "There is a risk that we could see an uptick in the August CPI numbers to 2.8%, largely as a result of last year’s decision by the Bank of England to cut rates to 0.25%, and embark on further QE, which prompted further sterling weakness into the back end of 2016, a self-inflicted wound if ever there was one.   "An increase in petrol prices at the pump could prompt a slight uptick in the monthly number to 0.6% from 0.2%, but it still seems likely that we’ve seen the highs in inflationary pressure this year, barring a surprise. The steady decline in input prices since the beginning of the year, from 20% in January to 6.5% in July also suggests inflationary pressure is on the decline, though we could also see a bit of an August uptick here too with expectations of an increase to 7.3%." Spreadex analyst Connor Campbell points out that the MPC were unmoved when inflation peaked in May: "How much of a boost the currency could get from such a reading is perhaps up for debate. The Bank of England was reluctant to hike rates at that aforementioned May high, and it’s unlikely they’ll be moved by anything lower. "However, it would still be a move in the right direction, helping to explain why the pound is up 0.3% against the dollar and 0.2% against the euro."  9:09AM UK inflation preview: weaker-than-expected figure would hurt the pound  6. And... 1) UK inflation not wildly different to peers 2) Energy contributions are global & overlooked 3) Core is still the one to watch pic.twitter.com/SS4cpHi5t9— Rupert Seggins (@Rupert_Seggins) September 12, 2017 Weaker-than-expected inflation and patchy growth indicators for the UK economy have somewhat punctured hawkish hopes of an interest rate rise over the summer but could that impetus be revived today? With only three MPC meetings before the end of the year, the markets have put the chance of a rise in 2017 at just 28pc. A third consecutive month of weaker-than-expected figures hurting hike hopes would pull down the pound even if it does point to a healthier economy, according to Lee Hardman, currency analyst at MUFG. He said "So far this year, the pound has tended to strengthen following stronger than expected UK inflation reports and vice versa which have driven expectations for BoE monetary tightening. "While weaker than expected inflation would also be more favourable for the UK growth outlook, the market has not been willing to reward the pound in that manner." 9:01AM UK inflation preview: CPI expected to rise to 2.8pc; figures have been softer than expected over the summer 3. Oil price inflation suggests that there's still another month or two left of relief from UK transport & energy price inflation. pic.twitter.com/NhbbfMIgRC— Rupert Seggins (@Rupert_Seggins) September 12, 2017 Will the squeeze on households continue to ease or will inflation pick-up where it left off before the summer?  Economists are expecting today's inflation data to show a rise back up to 2.8pc but recent figures have been unexpectedly soft.  The Bank of England is currently forecasting inflation to peak at 3pc later this year but that surprise slowdown to 2.6pc in June and July has dampened the clamour for a rate rise. Only two members of the current line-up on the central bank's Monetary Policy Committee have voted for a hike, external members Ian McCafferty and Michael Saunders, but BoE chief economist Andy Haldane did admit earlier in the summer that he favoured a rate rise at some point this year. New MPC member and BoE deputy governor Sir David Ramsden's voting intentions are unknown but it is thought he won't rock the boat early on. 8:27AM Agenda: Pound shows no pre-match nerves ahead of key inflation data Mark Carney and the MPC have voted against hiking interest rates to curb high inflation The squeeze on UK households is expected to get a little tighter this morning when the latest inflation figures from the ONS drop. Economists believe UK CPI in August picked-up to 2.8pc after cooling off for the previous two months, mainly due to temporary factors. The latest RPI and PPI figures also due at 9.30am kick off this week's trio of key macro releases with wage growth data and the Bank of England's 'Super Thursday' scheduled in the coming days. Ahead of the data, the pound is showing no nerves on the currency markets, jumping higher against the dollar to flirt with the $1.32 mark. Asia stock mkts hit 10y highs on Irma and N Korea relief led by exportes & tech. Dollar rises on higher US yields, yuan hampered by Beijing pic.twitter.com/KXDX4j6rdl— Holger Zschaepitz (@Schuldensuehner) September 12, 2017 Equipment rental firm Ashtead has climbed to the top of a stagnant FTSE 100 early on with the blue-chip silent giant saying in its interims this morning that it expects demand for its services to pick-up in the clean-up efforts following the two hurricanes in the US and Caribbean. Meanwhile on the FTSE 250, JD Sports has surged over 9pc after reporting record first half profit. The "athleisurewear" store now expects full-year figures to be at the upper end of market expectations. Interim results: JD Sports Fashion, TyraTech, SafeCharge International Group Limited, ADES International Holding, Hydrogen Group, Flowtech Fluidpower, Midwich Group, Tasty, Hilton Food Group, STM Group, Servelec Group, IQE, Goals Soccer Centres, Manx Telecom, TP Group, Smart Metering Systems, Ashtead Group Full-year results: Murgitroyd Group, InnovaDerma, Vernalis AGM: EF Realisation Company, Limitless Earth, Aew UK Reit, Supergroup, Liontrust Asset Management, Daejan Holdings, Mulberry Group, Bushveld Minerals, Oxford Instruments, Van Elle Holdings, Ashtead Group, Emmerson Economics: CPI y/y (UK), HPI y/y (UK), RPI y/y (UK), PPI Input m/m (UK), NFIB Small Business Index (US), Federal Budget Balance (US)

14 июня, 13:34

Основные фондовые индексы Европы растут

Европейские рынки в среду повысились, так как инвесторы с осторожностью ожидали последнего решения по денежно-кредитной политике Федрезерва США. Общеевропейский индекс Stoxx 600 вырос на 0,5 процента, при этом большинство секторов торгуются на положительной территории. Акции Tech выросли в начале торгов, поскольку они оправились от крупной распродажи ранее на этой неделе. Акции сектора основных ресурсов также выросли после новостей о том, что китайская фирма Fosun предложит более 224,6 млн. фунтов стерлингов (287 млн. долл. США) для горнодобывающей компании Gemfields, зарегистрированной в Лондоне, сообщает Reuters. Таким образом, акции выросли на 9 процентов. Шведская фирма Hexagon была на вершине европейского индекса в ранних сделках, повысивши свою капитализацию на 16 процентов. Это произошло после сообщения о том, что компания по производству программному обеспечению вела переговоры о продаже себя конкуренту в сделке, оценивающей компанию примерно в 20 миллиардов долларов. Согласно Wall Street Journal, Hexagon может в конечном итоге решить не продолжать продажу. Британский домостроитель Bellway также был одним из наиболее эффективных исполнителей в среду, после того, как был подтвержден с повышением торговый оборот. Акции компании упали после всеобщих выборов в Великобритании, но в среду заявили, что они не ожидают охлаждения спроса из-за голосования. Фактически, ожидается, что строительство за полный год увеличится почти на 10 процентов, а операционная маржа на весь год будет чуть выше 22 процентов, сообщает Reuters. В то же время другие конкуренты также выросли, а акции Taylor Wimpey и Barratt Developments выросли примерно на 1,7 процента. Британская авиакомпания Easyjet также повысилась на 2,5 процента в среду после повышения рейтинга. Инвесторы ожидают, что ФРС повысит ставки, но что более важно, они будут следить за комментариями о будущем пути центрального банка. Решение будет озвучено в 18:00 GMT. Между тем, политика по-прежнему остается в центре внимания. В США генеральный прокурор Джефф Сессионс сказал, что это была «отвратительная ложь» относительно идеи, которая заключалась в том, что он сговорился с российскими властями, чтобы вмешиваться в исход президентских выборов. Кроме того, более 190 демократических законодателей подали в суд на президента Дональда Трампа, обвинив его в получении средств от иностранных правительств через его фирмы и, таким образом, в нарушении конституции. В Европе президент Франции Эммануэль Макрон сказал премьер-министру Терезии Мэй, что Великобритании будут рады в составе ЕС, если она изменит свое мнение. Похоже, что новое правительство Великобритании придерживается менее жесткого подхода к Брекзиту с момента проведения всеобщих выборов. В корпоративном мире глава немецкой антимонопольной комиссии отклонил планы правительства по спасению AirBerlin. На текущий момент FTSE 7534.62 34.18 0.46% DAX 12843.68 78.70 0.62% CAC 5311.77 50.03 0.95% Информационно-аналитический отдел TeleTradeИсточник: FxTeam

09 июня, 11:53

Фондовые индексы крупнейших экономик Европы растут в пятницу

Рынки акций крупнейших экономик Европы растут в пятницу, инвесторы оценивают результаты выборов в Великобритании.

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10 мая, 10:04

Barratt Developments rises 2.3% after 2017 outlook

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22 февраля, 19:00

Полугодовая прибыль Barratt возросла на 8,8% г/г

Британский застройщик Barratt Developments представил финансовые результаты за первое фискальное полугодие с окончанием 31 декабря. Так, прибыль до уплаты налогов возросла на 8,8% г/г и составила 321,0 млн фунтов стерлингов ($399,49 млн) по сравнению с 295,0 млн фунтов годом ранее. Выручка, тем временем, уменьшилась с 1,88 млрд фунтов стерлингов годом ранее до 1,82 млрд фунтов. Кроме того, компания заявила, что выплатит дивиденды за первое полугодие в размере 7,3 пенса на акцию по сравнению с 6,0 пенса на бумагу годом ранее.

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22 февраля, 17:25

Barratt to pay out more to shareholders despite London sales slump

Housebuilder appears to brush aside Brexit uncertainties despite being forced to cut prices of top properties in capitalOne of Britain’s biggest housebuilders has surprised shareholders with an enhanced cash payout, despite its decision to cut prices on some of its most expensive homes in London amid waning demand.Brushing aside any uncertainty over the Brexit vote, Barratt Developments said it was sufficiently confident in the outlook for the housing market to extend its capital return plan, including special dividend payments of £175m in November 2017 and November 2018. Continue reading...

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22 февраля, 12:29

Полугодовая прибыль Barratt возросла на 8,8% г/г

Британский застройщик Barratt Developments представил финансовые результаты за первое фискальное полугодие с окончанием 31 декабря. Так, прибыль до уплаты налогов возросла на 8,8% г/г и составила 321,0 млн фунтов стерлингов ($399,49 млн) по сравнению с 295,0 млн фунтов годом ранее. Выручка, тем временем, уменьшилась с 1,88 млрд фунтов стерлингов годом ранее до 1,82 млрд фунтов. Кроме того, компания заявила, что выплатит дивиденды за первое полугодие в размере 7,3 пенса на акцию по сравнению с 6,0 пенса на бумагу годом ранее.

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22 февраля, 11:04

Barratt Developments shares rise 2.1% after profit increase

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20 января, 10:23

Европейские индексы слабо снизились в четверг на комментариях Драги

Европейские фондовые индексы завершили небольшим снижением торги в четверг, инвесторы оценивали итоги заседания Европейского центрального банка (ЕЦБ).

19 января, 14:30

Основные фондовые индексы Европы торгуются в “красной зоне”

Европейские фондовые индексы снижаются в ожидании заседания Европейского центрального банка. По мнению большинства экономистов, ЕЦБ не станет вносить коррективы в денежно-кредитную политику. При этом эксперты будут внимательно следить за выступлением главы Центробанка Марио Драги в поисках намеков на следующие ходы ЕЦБ. В частности, инвесторов интересуют предполагаемые сроки начала сворачивания или сокращения объемов количественного смягчения (QE). В фокусе внимания инвесторов были статданные по еврозоне. Профицит счета текущих операций в еврозоне достиг рекордно высокого уровня в ноябре, сообщил в четверг Европейский центральный банк. С учетом сезонных колебаний профицит счета текущих операций вырос до 36,1 млрд евро в ноябре с 28,3 млрд евро в октябре. Это был самый высокий профицит с момента образования валютного блока. Профицит по торговле товарами вырос до 30,9 млрд евро в ноябре с 25,9 млрд евро в предыдущем месяце. В то же время, профицит услуг сократился до 4,8 млрд евро с 8,9 млрд евро. Первичный профицит доходов увеличился с 6,3 млрд евро в октябре до 12,1 млрд евро в ноябре. В отличие от этого, вторичный доход показал дефицит в размере 11,7 млрд евро против дефицита в 12,9 млрд евро в предыдущем месяце. В финансовом счете, в сочетании прямых и портфельных инвестиций, которые отражаются за вычетом приобретения активов 30 млрд евро и чистого возникновения обязательств в 36 млрд евро. Сводный индекс крупнейших предприятий региона Stoxx Europe 600 опустился в ходе торгов на 0,2%, до 362,19 пункта. Котировки акций горнодобывающих компаний демонстрируют разнонаправленную динамику в четверг на фоне снижения цен основных металлов. Стоимость бумаг Fresnillo опустилась в ходе торгов на 2%, Randgold Resources - на 1%, Anglo American - на 0,7%.. Тем временем, акции Antofagasta подорожали на 1,2%, Glencore - на 0,7%. Бумаги BHP Billiton выросли в цене на 0,8%. BHP Billiton, Vale SA и совместное предприятие двух компаний - Samarco Mineracao SA - договорились с властями Бразилии об урегулировании дела о прорыве принадлежащей Samarco плотины в штате Минас-Жерайс в ноябре 2015 года, сообщила BHP Billiton. Котировки бумаг британских компаний сферы недвижимости дешевеют на сигналах первого за пять месяцев снижения цен на жилье в Великобритании. Индекс цен на жилье, рассчитываемый Royal Institution of Chartered Surveyors (RICS), опустился в прошлом месяце до 24 пунктов с ноябрьских 29 пунктов. Акции Barratt Developments подешевели в ходе торгов на 1,6%, Taylor Wimpey - на 1%, Persimmon - на 1,1%. Стоимость бумаг Royal Mail упала на 5,8% после сообщения компанией о снижении продаж в Великобритании на 2% за девять месяцев, завершившихся 25 января 2016 года. Цена акций французской Safran SA опустилась на 1,7%. Компания объявила о покупке Zodiac Aerospace SA в рамках сделки объемом 8,5 млрд евро, которая приведет к объединению двух французских поставщиков комплектующих для аэрокосмического сектора в компанию с ежегодной выручкой порядка 21 млрд евро. Бумаги Zodiac Aerospace подорожали в ходе торгов на 22%. На текущий момент FTSE 7196.81 -50.80 -0.70% DAX 11585.86 -13.53 -0.12% CAC 4839.44 -13.96 -0.29% Информационно-аналитический отдел TeleTradeИсточник: FxTeam

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12 января, 13:17

Европейские фондовые индексы снижаются в четверг, дешевеют акции ритейлеров

Европейские фондовые индексы снижаются в четверг вслед за котировками акций фармацевтических компаний.

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08 декабря 2016, 15:18

Morrisons joins supermarket housing game with Camden plan

Supermarket follows lead of Sainsbury’s and Tesco by unlocking cash through deal with Barratt HomesMorrisons is joining rival supermarkets in the housing business with plans to build 700 homes as part of the redevelopment of its Camden store in north London.The supermarket has teamed up with Barratt Homes – which helped Sainsbury’s redevelop its Nine Elms store near Vauxhall, south-west London, with more than 700 homes – to put together its plans for Camden. Continue reading...

16 ноября 2016, 12:59

Европейские индексы слабо снижаются в среду, дешевеют акции британских девелоперов

Европейские фондовые индексы колеблются между ростом и снижением на торгах в среду.

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16 ноября 2016, 11:13

Barratt cuts price of £1m-plus London homes

Housebuilder says overall market conditions are healthy and Brexit vote has not hit demand for new homesOne of Britain’s biggest housebuilders has started cutting prices on some of its most expensive London homes because of waning demand at the top end of the market.Barratt Developments said that although overall market conditions were healthy, it was proving more difficult to sell homes priced above £1m in the capital because of too much supply. Continue reading...

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16 ноября 2016, 11:05

Barratt Developments says demand for new homes 'strong'

One of the UK's biggest housebuilders says there remains "strong demand" for new homes, although the London market is cooling.

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19 октября 2016, 14:46

Barratt executive arrested after internal misconduct inquiry

Barratt Developments' regional managing director for London has been arrested after an investigation into "possible misconduct".

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07 сентября 2016, 17:33

Годовая доналоговая прибыль Barratt увеличилась на 21% г/г

Британский застройщик Barratt Developments зафиксировал 21%-ный рост доналоговой прибыли в 2016 финансовом году. Так, прибыль до уплаты налогов составила за 12 месяцев с окончанием 30 июня 682,3 млн фунтов стерлингов ($915,9 млн) по сравнению с 565,5 млн фунтов годом ранее. Выручка, тем временем, поднялась на 13% г/г и достигла 4,24 млрд фунтов.

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07 сентября 2016, 12:11

Годовая доналоговая прибыль Barratt увеличилась на 21% г/г

Британский застройщик Barratt Developments зафиксировал 21%-ный рост доналоговой прибыли в 2016 финансовом году. Так, прибыль до уплаты налогов составила за 12 месяцев с окончанием 30 июня 682,3 млн фунтов стерлингов ($915,9 млн) по сравнению с 565,5 млн фунтов годом ранее. Выручка, тем временем, поднялась на 13% г/г и достигла 4,24 млрд фунтов.