The UK Economy

Last week, the GBPUSD had slight movements that failed to overcome the barrier of 1.5600 level. Possibly GBPUSD is forming a lower high pattern to continue the climb but it is very difficult in the medium term due to the level of 1.5600, there is a very strong resistance supported by the 200 day moving […]

A good way to end the week! The sun’s out, there’s a long and hopefully sunny weekend to look forward to and the UK flagship equity index has regained the 6,500 handle – MIA since mid-March. After another round of mixed macro-economic data and major announcements from central banks, on both sides of the pond, […]

Some folks believe that George Osborne stepped a bit over a political “red line” when he gave instruction to Sir Mervyn King and the Financial Policy Committee (FPC) of the Bank of England to focus on short-term growth as opposed to financial stability.  King responded to the seemingly unusual demand, saying that the FPC would […]

I’m usually pretty hard on Lloyds (LSE:LLOY), I believe, rightfully so, in light of how the bank has conducted itself over the last decade.  On the other hand, there is no sport in kicking a man who is trying to get back up. When Lloyds released its First Quarter results this morning, its share price […]

Announcing their Q1 results BP have argued that “Underlying replacement cost profit for the quarter was $4.2 billion, compared to $3.9 billion in the fourth quarter and $4.7 billion in the first quarter of 2012”. Operating cash flow in the quarter was $4.0 billion, compared with $3.4 billion in the first quarter of 2012. BP […]

The bank will receive shares equivalent to approximately 1.8 per cent of the total issued share capital as part of the deal. Lloyds Banking Group have announced that it will sell its Spanish retail banking operations, including Lloyds Bank International S.A.U and Lloyds Investment España SGIIC S.A.U, to Banco Sabadell, S.A (Banco Sabadell). The sale […]

Brokerage firm argues listing is a “great opportunity” Holly Su Futures Hong Kong Co., a leading futures and options brokerage in China, has joined NYSE Liffe, the European based global derivatives division of NYSE Euronext, as member of the Exchange’s London market. Membership of NYSE Liffe will enable customers of Holly Su Futures to access […]

This week was all about GDP growth. With on-going fears about whether China (7.7% YoY) is slowing or not, it was the turn of the UK and US to release Q1 preliminary estimates. The UK’s 0.6% YoY beat expectations (consensus flat), helped by a strong services sector. Good news also that a triple-dip recession was […]

“An extension of the deadline avoids the need for a forced sale or flotation while markets are weak”. Ratings agency Fitch have today argued that Lloyds and RBS are likely to join the ranks of the banks that have had to request from the European Commission an extension of the deadline originally set for the […]

There had been growing concern of a triple-dip recession The UK economy has avoided entering a triple-dip recession following the announcement of a 0.3% GDP increase in the first quarter of 2013. Compiled by the Office for National Statistics the data shows that whilst construction output continues to struggle production, mining, quarrying and the service […]