Sterling soars to one year high

Sterling soars to one year high. The Bank of England’s strong hint that an interest rate rise could be sooner rather than later pushed the pound higher yesterday. Sterling continued to make gains against the dollar this morning and moved above $1.35. Its highest level since September 2016. Is a …


Dow does it again

Dow does it again. The Dow Jones Industrial Average (DJIA) yet again set a new record high yesterday (14/09/17) to close at: 22207 This time Wall Street didn’t quite manage to set a trio of record highs as the S&P 500 and NASDAQ closed lower. For the last two days …


FTSE 100 falls Pound jumps

FTSE 100 falls Pound jumps The FTSE 100 falls back to close at: 7295 down 84 points. Perceived hawkish comments from the Bank of England helped the pound to rise on early rather than later interest rate rises. Higher inflation and UK growth are also adding to the Bank of …


Sterling on the move

Sterling on the move Following the Bank of England’s interest rates comments Sterling is surging ahead. The pound smashed through $1.33 to reach a high of $1.3355 I’ll keep you posted.


Bitcoin bubble about to burst?

Bitcoin bubble about to burst? The crypto-currency fell more than 10% on Wednesday (13/09/17) to as low as $3720. Bitcoin, the biggest crypto-currency hit a record high of $5000.00 earlier this month and has fallen back dramatically. Comments from China about banning trading of such crypto-currencies and a warning from …


UK interest rate held at 0.25%

UK interest rate held at 0.25% The Bank of England (BoE) has held UK interest rates at 0.25% Interest rates could rise faster than expected after 7-2 vote to hold. Sterling The pound jumped against the dollar ($1.3280) FTSE 100 fell on the news sharply to 7316 – a fall …


Retail results roundup!

Retail results roundup! Interim results were announced today from: NEXT PLC, Morrison (Wm) Supermarkets PLC and John Lewis. NEXT PLC (NXT) – sales and profits fall NEXT PLC reported a 9.5% fall in profit before tax at: £309.4 million at half year results (to end of July). Total group sales …


Bank of England interest rate announcement due

Bank of England interest rate announcement due. At midday today (14/09/17) the Bank of England will announce its latest interest rate decision. The minutes from the Monetary Policy Committee meeting will also be published. Hawks or Doves to win? I will update the interest rate decision later.    


Bank failure – 10 years ago today

Bank failure – 10 years ago today. It was exactly ten years ago today on the 14th September 2007 that Northern Rock succumbed to the banking crisis. The Bank of England propped the lender up leading to the first run on a British bank in more than a century. We …


All rise!

All rise! Wall Street does it again and for the second day in a row. All three US indices create new record highs. The DOW closed up at: 22156. The NASDAQ closed up at: 6460 and the S&P 500 closed up at: 2498. How many more records are there still …