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Savers need to build up more funds if they want to secure a decent standard of living in retirement. An independent pensions body has updated its calculations on how much money people need to fund a basic, moderate or comfortable lifestyle in retirement. Rising food and energy costs, plus the fact more people want to…
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The old stock market adage “sell in May and go away” would so far have proved to be a costly strategy this year, with major global market indices registering another week of solid gains. Investors cheered the US inflation print on Wednesday, with US stocks closing at record highs after the data showed inflation…
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Improved terms, together with the erosion of tax allowances elsewhere, are making ISAs a favourable option for the new tax year. Since their launch, successive Chancellors have made revisions to Individual Savings Accounts (ISAs). Before his Budget proposal of an extra £5,000 for a ‘UK ISA’, the current Chancellor made arguably his biggest…
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It was a positive week in global financial markets, with all of the major indices making headway. US futures pointed to more gains on Friday, leaving the S&P 500 index on course for a third consecutive weekly rise. The rally was given fresh impetus yesterday by data that supported the case for Federal Reserve interest…
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The UK headed to the polls this week for a variety of local elections, where the Conservatives have suffered, losing councillors at a much higher rate than their worst predictions. Although Labour has gained by winning a number of marginal areas such as Hartlepool and Redditch, they have lost out on some votes to the…
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British households will breathe a sigh of relief this week as data from research company Kantar indicated an easing in grocery price inflation, falling to a 30-month low of 3.2% in the four-weeks to mid-April. This was down from 4.5% the previous month, the lowest it has been since November 2021. However, this does mean…
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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. In this edition, we explore the main takeaways from the Spring Budget, as well as the probable lowering of interest rates in 2024 and potential effects on your…
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It was announced this week that the UK economy grew for the second month in a row in February. Gross domestic product (GDP) rose 0.1% in the month, causing optimism that the UK’s technical recession may be coming to an end. Although we have now seen two consecutive months of increases, GDP still remains below…
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UK shop price inflation released this week provided an early indication of the direction of travel for the March inflation figure due to be released later this month. Shop price inflation fell to its lowest figure since December 2021 to 1.3%, indicating that the huge price increases seen over the last 2 years may finally…
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Weekly Market Update – 24/05/2024
The country was caught by surprise on Wednesday, when Prime Minister Rishi Sunak announced a snap election on 4th July, months earlier than the anticipated Autumn timescale. Some within the Conservative party have criticised the timing whilst the Tories are currently so far behind in the polls, and that Sunak has not given the economic…
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