Latest News and Articles
Welcome to the latest edition of Caves Quarterly, where we review key market and financial news from the last few months, and look ahead to the future. The main focus of the last quarter has been the raft of democratic elections that have taken place across the globe. The UK election delivered a landslide win…
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The UK economy experienced strong growth in May, with GDP up 0.4% according to data from the Office for National Statistics, double the expected figure from Reuters. This strong growth was driven by a rebound in housebuilding and continued expansion in services. This could complicate the Bank of England’s decision of when to start cutting…
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It has been a big week of politics, with the UK General Election, US Presidential debates, and the first round of the French election all happening this week. Focussing away from home to begin with, Joe Biden’s campaign looks to have been derailed by calls within his own party for him to step aside, following…
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The UK economy grew 0.7% in the first quarter of the year according to the Office for National Statistics, higher than the previously estimated 0.6%, boosted by stronger household spending. This is the fastest growth in UK GDP since the end of 2021, and marks the end of last year’s technical recession. However, monthly figures…
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Nvidia continued its dramatic journey this week, surpassing Microsoft to become the world’s most valuable listed company in trading on Tuesday, valued at $3.335tn, equating to about $135 per share. Two years ago, the company was valued at around $300bn, and eight years ago was worth less than 1% of its current value. Turning…
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The S&P500 and Nasdaq hit new all-time highs this week as investors focussed on the unexpectedly lower inflation figure of 3.3% in May, down from 3.4% in April. However, Federal Reserve officials have signalled they now only expect to cut rates once this year, holding rates at a 23-year high with concerns that inflation remains…
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This week, the European Central Bank cut interest rates for the first time since 2019. Rates were cut by 0.25% to 3.75%, a move that the Federal Reserve and Bank of England are yet to follow, although both of these central banks are holding their next policy meetings in the coming weeks. ECB president Christine…
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It is not only fictional multinational media empires that need to consider future ownership and control. In 2023, the question of how to transfer control of a large, high profile family organisation gripped attention. First the Sky Atlantic series, Succession, drew us in, followed by its inspiration, the transfer of the Fox and News Corporation…
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After weeks of negotiations, this week Czech billionaire Daniel Křetínský has agreed to buy the owner of Royal Mail, International Distribution Services, for 370p per share, valuing the group at £5.3bn. Křetínský’s EP Group must meet commitments such as retaining its UK headquarters and maintaining Royal Mail’s obligation to deliver mail everywhere in the UK…
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Weekly Market Update 26/07/2024
It has been a big week in the US with Joe Biden stepping down from the presidential race and Kamala Harris becoming the new Democratic candidate. It was on Sunday that 81-year-old Biden announced he would be withdrawing, after weeks of infighting among Democrats over whether the president would be mentally or physically able to…
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