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BT group suffered a sharp drop in its share price on Tuesday as Sky announced they would be using rival CityFibre to roll out full fibre internet across the UK, concentrating on areas not currently serviced by BT Openreach. Sky’s current 6.5m subscribers are expected to stay on the BT Openreach network, however, BT shares…
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UK headline inflation came in at 2.2% in July according to figures released by the Office for National Statistics on Wednesday. This was lower than the expected figure of 2.3% according to a poll from Reuters. Although inflation is still above the Bank of England’s 2.0% target, the sharp fall in pricing pressures may yet…
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Global markets faltered on Monday off the back of fears of a US recession due to the slow response by the Federal Reserve to cut interest rates after signs that the US economy has started to weaken. Last week’s jobs report showed a much sharper slowdown in hiring than markets had anticipated, and recent earning…
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It was all eyes on central banks this week, with both the Federal Reserve and the Bank of England meeting to discuss whether to reduce interest rates. The Fed were the first to meet on Wednesday and decided to leave rates unchanged for the eighth meeting in a row, keeping borrowing costs at a 23…
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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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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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Weekly Market Update 30/08/2024
On Tuesday, Prime Minister Sir Keir Starmer gave a speech prior to the autumn budget warning of tax rises to fill the £22bn “black hole” left by the Conservatives. Labour has ruled out increases to income tax, VAT, and national insurance. However, Starmer did not elaborate on which taxes would be raised, and he made…
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