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May 10, 2024
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the uk economy i'll come back to the uk the uk economy has left recession growing by 0.6% in the first three months of the year that was ahead of the 0.4% jeremy hunt told sky news that the uk has turned a corner >> the uk economy is growing faster over the last quarter, not just in france or germany or italy, but faster than the united states. i think what's more encouraging is the longer-term data we are now seeing about the economy since 2010, we created more jobs in the uk than any other country in europe. we attracted more greenfield foreign investment not just anywhere in europe, but anywhere in the world apart from the united states and china. we have a huge technology sector the imf says we will grow faster than any european economy. for families having a really
the uk economy i'll come back to the uk the uk economy has left recession growing by 0.6% in the first three months of the year that was ahead of the 0.4% jeremy hunt told sky news that the uk has turned a corner >> the uk economy is growing faster over the last quarter, not just in france or germany or italy, but faster than the united states. i think what's more encouraging is the longer-term data we are now seeing about the economy since 2010, we created more jobs in the uk than any...
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Feb 15, 2024
02/24
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we also had a whole dump of uk data. uk officially in recession. i want to kickoff the show with the monthly oil reports. there are interesting takes. the iaea shaved the global oil demand for 2024 to 1.22 million barrels per day from 1.24 million barrels per day previously. global oil demand is losing momentum, the iaea saying, with pace of expansion set to decelerate in part due to china. demand growth gains in 2024 to be dominated by few countries, china, and india and brazil. just in terms of the supply outlook, they revised up the world oil supply to 1.7 million barrels per day to the record high of 103.8 million barrels per day driven by opec supply. they see demand growth moving lower, but supply growth increasing on the back of non-opec plus countries. they are referring to the u.s. just a comment about market oil advances. they tightened in january despiteweakness in the u.s., canada and fresh cuts by opec plus countries. look at the energy complex. we are slightly weaker. yesterday, we also had that inventory data come in from the u.s. sh
we also had a whole dump of uk data. uk officially in recession. i want to kickoff the show with the monthly oil reports. there are interesting takes. the iaea shaved the global oil demand for 2024 to 1.22 million barrels per day from 1.24 million barrels per day previously. global oil demand is losing momentum, the iaea saying, with pace of expansion set to decelerate in part due to china. demand growth gains in 2024 to be dominated by few countries, china, and india and brazil. just in terms...
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May 20, 2024
05/24
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i'm optimistic in the uk. >>> the uk minister has criticized uk regulators anti-fraud proposproposals. it floated a new set of rules that would require banks as well as payment companies to refund victims up to 415,000 pounds per claim. he told the financial times there were quote significant problems with the plans. the regulator says it is increasing protections for people and working to prevent fraud. the economic secretary to the treasury and minister for the uk joins us then. secretary, thank you for the time. i appreciate it this morning. is it fair to say that the problem here with the psr has put forward is too high and may encourage more complicit fraud is your issue with the rules put forward? >> look, they are what you mentioned, are some of the i issues. the psr did say to me they will look at the evidence this year to make sure the industry is capable of making any changes and make sure we are looking at the practical impacts and if they see the relevant evidence, they will change tack. i will hold them to that this year. >> if they change tack, what is your hope? would i
i'm optimistic in the uk. >>> the uk minister has criticized uk regulators anti-fraud proposproposals. it floated a new set of rules that would require banks as well as payment companies to refund victims up to 415,000 pounds per claim. he told the financial times there were quote significant problems with the plans. the regulator says it is increasing protections for people and working to prevent fraud. the economic secretary to the treasury and minister for the uk joins us then....
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Mar 28, 2024
03/24
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uk has doubled in volumes. we have seen user growth to 3 million users in total the state itself is now over 7,000 locations which is the number one leading solution in the uk today >>> a drop in shares after the financial structure was completed for casino the french market was led by the czech billionaire. mandy. >> let's have a chat with lindsay james from quilter she's on the phone with us thank you. another day, another central banker pushes back on the hopes and dreams that the markets are harboring right now. would you agree we can afford more patience with monetary easing in. >> yes, i think personally the recent meeting from the fed that they were more relaxed on the inflation print we have seen coming through to me, we had two months now of hotter than expected month on month core inflation readings. i think another two months of that and we'll have two more data points coming through before the june meeting and it gets more difficult to justify that first cut coming as early as june. of course, close
uk has doubled in volumes. we have seen user growth to 3 million users in total the state itself is now over 7,000 locations which is the number one leading solution in the uk today >>> a drop in shares after the financial structure was completed for casino the french market was led by the czech billionaire. mandy. >> let's have a chat with lindsay james from quilter she's on the phone with us thank you. another day, another central banker pushes back on the hopes and dreams that...
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May 23, 2024
05/24
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we have uk data coming out in just a few seconds here. in the meantime, i want to point out that the imf has been a adamant of no fiscal space for the uk economy joe, stay with us. i want to bring you the uk pmi data for the month of may. the flash at 52.8 versus 54.1 in the month of april a slowdown here. the composite at 52.8 in may against consensus of 54. joe, i want to come back to you. we have so many investors watching this channel and they're trying to make sense of what it means for them this election not just the snap elections and announcement of such a labour government coming back after 14 years, what does that mean for business? we heard about some potential policies here, but how leftist is this government going to be what does it mean for the business community >> i think the perception of international investors with respect to the labour party is somewhat clouded by the far left party that the labour party once was under the former leader jeremy corbin. the current leader has been at pains to demonstrate it is not the sa
we have uk data coming out in just a few seconds here. in the meantime, i want to point out that the imf has been a adamant of no fiscal space for the uk economy joe, stay with us. i want to bring you the uk pmi data for the month of may. the flash at 52.8 versus 54.1 in the month of april a slowdown here. the composite at 52.8 in may against consensus of 54. joe, i want to come back to you. we have so many investors watching this channel and they're trying to make sense of what it means for...
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Jan 11, 2024
01/24
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the uk consumer is still spending. if the economy does start to weaken a bit in 2024, it will be harder with the promotional market. we saw the profit warning as well recently. there are tentative signs it will be tougher in 2024. i think that is something investors will focus on right now. >> actually looking closely at sainsbury and they bought argos in 2016 and this was also the part of this update that seems to be struggling, i wonder at this stage if sainsbury needs to rethink the acquisition of argos and if this is the moment to think about the issue of getting rid of it? >> i think we should watch about the statements. they will take a long-term view. the brand was struggling when they bought it. it has benefitted from the sainsbury umbrella. clearly, that is something management will want to track over a longer period. it does make sense to have both under the same umbrella. sainsbury can bring the advantages to that. clearly if argos and that division continues to struggle, they have to look at it because food
the uk consumer is still spending. if the economy does start to weaken a bit in 2024, it will be harder with the promotional market. we saw the profit warning as well recently. there are tentative signs it will be tougher in 2024. i think that is something investors will focus on right now. >> actually looking closely at sainsbury and they bought argos in 2016 and this was also the part of this update that seems to be struggling, i wonder at this stage if sainsbury needs to rethink the...
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Mar 14, 2024
03/24
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buy uk. be cautious with the momentum stocks. >> steven, there is scrambled eggs and scrambled eggs. >> powder scrambled eggs? >> if you have a buffet, they he c come out of an packet. you are looking at the uk market. there are other big name plays out there. everybody knows nvidia also this you have been living under a rock the past 12 months. there are other a.i. stories. super micro computer is another one. another a.i. story. foxconn and how it is weighing in on the a.i. story. there are other a.i. bits. because nvidia has had a huge run, is this worth looking at other stocks in the a.i. space rather than looking at the uk which is much slower? >> you are looking at bets. people are shoving a.i. into the conversation and hoping and getting a pop. good luck to them. you know, that concerns me. microstrategy, an extraordinary company with the 5.8% coupon. it is an idea he of who subscribed to those convertible bonds? i don't know. try to call tops and bottoms is a dangerous game. sure a.i.
buy uk. be cautious with the momentum stocks. >> steven, there is scrambled eggs and scrambled eggs. >> powder scrambled eggs? >> if you have a buffet, they he c come out of an packet. you are looking at the uk market. there are other big name plays out there. everybody knows nvidia also this you have been living under a rock the past 12 months. there are other a.i. stories. super micro computer is another one. another a.i. story. foxconn and how it is weighing in on the a.i....
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Jan 5, 2024
01/24
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the discount with the uk and u.s. snarrows 32%. that is still a big discount. it is still a big discount. it doesn't make sense pause we live in a world where capital can flow freely. here is the issue, we didn't see that with the valuation before 2016. >> what happened in 2016 again? >> right. not a political statement. it is a statistically observation. >> let's round up by asking whether you think once the elections are out of the way and some of the political premiums are factored into the market will go away? >> i think there is a return to some degree of normalcy. there is more policy uncer uncertainty. if you look at the uk election, when it happens. >> not in spring. >> apparently no. sure, it pulls apart the culture and social issues, but in the broad bush erush economics, the not much to separate. pretty similar to what boris johnson was talking about when he hit number 10. the overall sort of attitude of business and fiscal power is going to be an issue. >> not worried about a labour government coming in. >> you can only find elections deviate market
the discount with the uk and u.s. snarrows 32%. that is still a big discount. it is still a big discount. it doesn't make sense pause we live in a world where capital can flow freely. here is the issue, we didn't see that with the valuation before 2016. >> what happened in 2016 again? >> right. not a political statement. it is a statistically observation. >> let's round up by asking whether you think once the elections are out of the way and some of the political premiums are...
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Jan 2, 2024
01/24
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we are overweight on uk gilt. there is room for the uk gilt to rally. the economic situation is worse than people anticianticipated. the fed still would not commit to any potential rate cuts. we think they would be pressured and forced to deliver at some point when the economy slows more significantly. i think there is more room for uk gilts to rally over the u.s. treasuries. generally, when central banks cut, it is usually a bull market evolves. >> janet, thank you for joining me today and giving me your views on 2024. janet mui from rbc brewin dolphin. >>> china's factory manufacturing increased at a larger pace than expected. pmi rose from 50.8 over 50.7 in november. in contrast, the official data released over the weekend shows china pmi contracted for the third straight month in december. >>> speaking of china, the ev maker byd posted a 62% jump in sales in 2023 selling over 3 million vehicles. the figures were boosted by 70% surge in december moving the firm a step closer to topping tesla in the ev figures. >>> coming up on the show, shipping fear
we are overweight on uk gilt. there is room for the uk gilt to rally. the economic situation is worse than people anticianticipated. the fed still would not commit to any potential rate cuts. we think they would be pressured and forced to deliver at some point when the economy slows more significantly. i think there is more room for uk gilts to rally over the u.s. treasuries. generally, when central banks cut, it is usually a bull market evolves. >> janet, thank you for joining me today...
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Mar 21, 2024
03/24
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having an exposure to uk income and across the world. companies coming to the market and the european companies and japanese companies starting to give more cash back to shareholders. >> it is the data is poor or underw underwhelming, which means recession environment, that mean more rate cuts. i say this with reference to the fact we just had business activities underwhelming again. the composite at 47.7. services is falling. manufacturing pmi falling. does that strengthen the case? is that the data that someone like christine lagarde is looking for to say we have to go for this? >> i think so. i think madame lagarde and the ecb has been vocal about rate cuts coming. inflation is now sub 2 in the zone. you have low inflation. that has come down. the opportunity in the window for them to start cutting. >> she was. the thing she said was remain elevated this year. incoming data. our decisions are data dependent. responding to new thinformations it comes in. i guess i'm wondering what information she is looking for here. on the inflation s
having an exposure to uk income and across the world. companies coming to the market and the european companies and japanese companies starting to give more cash back to shareholders. >> it is the data is poor or underw underwhelming, which means recession environment, that mean more rate cuts. i say this with reference to the fact we just had business activities underwhelming again. the composite at 47.7. services is falling. manufacturing pmi falling. does that strengthen the case? is...
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May 9, 2024
05/24
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fed >> we feel the bank of england will base policy in the uk on the inflation prospects in the uk we feel the policy path is more like the ecb than the fed. we expect the bank of england to cut in august and cut three times this year. 75 basis points of cuts in total. we do just think the macro economic back drop in the uk and europe is a compelling one for uk rather than the u.s we have june initially and then one cut per quarter with 75 basis cuts. >> you see the bank of england waiting one more meeting after the ecb. the ecb doesn't influence the bank of england, but they are watching and waiting. >> exactly our forecast particularly for services inflation will be a little bit above the bank of england in a couple hours time we feel they won't have the confidence to cut in the june meeting, but by the time we get to august with more disinflation, another data print in hand, we feel that is when they will be ready to go. >> one factor here we know the ecb is watching the price of oil which has stayed stable does the bank of england watch the oil market and other inflationary issues
fed >> we feel the bank of england will base policy in the uk on the inflation prospects in the uk we feel the policy path is more like the ecb than the fed. we expect the bank of england to cut in august and cut three times this year. 75 basis points of cuts in total. we do just think the macro economic back drop in the uk and europe is a compelling one for uk rather than the u.s we have june initially and then one cut per quarter with 75 basis cuts. >> you see the bank of england...
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Feb 20, 2024
02/24
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uk has more data and the uk companies still are seen as asset. if you want to hide property seeds of crime, the uk corporation gives you that vaneer. that is still through the panama papers. we need more data. >> can i ask about the sector? this is not happening so much in the manufacturing sector, but it is happening in the services sector. is crypto factored into that? are you seeing a big surge when it comes to the crypto formation of shell? >> it is more traditional manufacturing. the construction industry is a red light on the dashboard. industries that are more cash intens intensive. they are the kind of industries people need to double down on and look closely at our customers and not using conventional tools, but looking at ways to get into the shells and investigate the companies quickly. >> let's talk about enforcement and punishment. we see the financial task force which is vocal. is there a true enforcement punishment mechanism that is global? >> not really. the u.n. has the regulation. you have the sanctions context and sanctions of
uk has more data and the uk companies still are seen as asset. if you want to hide property seeds of crime, the uk corporation gives you that vaneer. that is still through the panama papers. we need more data. >> can i ask about the sector? this is not happening so much in the manufacturing sector, but it is happening in the services sector. is crypto factored into that? are you seeing a big surge when it comes to the crypto formation of shell? >> it is more traditional...
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May 13, 2024
05/24
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there is interest in uk stocks and what is the future for the london stock exchange? we posed that question and we hear london is attractive and it is attractive to some companies, but can it compete with the wall street so far, there are a lot of challenges for london. >> if they are able to compete at this stage, they get bought out stateside. that is the worry that the market is trying to do away with, if possible. i also understand they are courting colgate and others? >> that is an interesting time >> very interesting. silvia, thank you for that reporting. >>> with that, let's check in on the european markets a mixed trading picture. flat across the ftse 100 some positivity out of italy that's what you are getting here we are leading off to the inflation print, of course, out of the united states we will see how things fare on that one we look like we could be headed for a better opening bell. that's it for today. i'm arabile gumede "worldwide exchange" is next ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if s
there is interest in uk stocks and what is the future for the london stock exchange? we posed that question and we hear london is attractive and it is attractive to some companies, but can it compete with the wall street so far, there are a lot of challenges for london. >> if they are able to compete at this stage, they get bought out stateside. that is the worry that the market is trying to do away with, if possible. i also understand they are courting colgate and others? >> that...
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May 29, 2024
05/24
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we'll talk much more about the uk election outlook and the fiscal space that the uk has in a short while. >>> when it comes to treasury yields, hitting a four-week high in yesterday's trading session, the market expecting only 40 basis cuts by the fed this year. yesterday we saw that sharp improvement in consumer confidence in the month of may. u.s. futures look like this. pretty negative at this point in time. we are expecting the dow jones to fall by 140 points, the nasdaq's seen off by 19 points. this is after nasdaq crossed the $17,000 level for the first time yesterday. >>> now, germany's france said western ukraine should be allowed to use missiles at mir tair sites, however, they stressed other targets were off limits. macron and scholz made a three-day visit to europe. now, the leaders also addressing the recent israeli strike on a camp of displaced palestinians in rafah. >> translator: i'm overwhelming by the images we're seeing, shocked by what we're seeing in rafah. the response must be a political action, an immediate cease-fire. >> reporter: yesterday we heard of a tragic in
we'll talk much more about the uk election outlook and the fiscal space that the uk has in a short while. >>> when it comes to treasury yields, hitting a four-week high in yesterday's trading session, the market expecting only 40 basis cuts by the fed this year. yesterday we saw that sharp improvement in consumer confidence in the month of may. u.s. futures look like this. pretty negative at this point in time. we are expecting the dow jones to fall by 140 points, the nasdaq's seen off...
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May 8, 2024
05/24
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and uk policy. i expect andrew bailey to say hold for now, but indicating there will be cuts coming. we expect to cut as susan as j june, 25 basis points and then more later in the year we know the u.s. has had far more robust economic picture in part down to consumer actually root health. that's starting to wane. the uk is not doing so well. we see a down growth of expectations for 2024 from 70 basis points to 40 basis points. the uk will be the laggard for growth next year, the worst of the bunch. while i think the economic picture is a slightly different picture means we'll see cuts for the uk, but not from this meeting. >> how much do the cuts matter when we talk about the equity market they certainly matter a lot when it comes to the consumer the citi strategist yesterday said main street is just the regular person in this scenario and they've seen quite a bit of divergence themselves and the market has seemed to move higher without those rates. what do you think? >> businesses that do well wit
and uk policy. i expect andrew bailey to say hold for now, but indicating there will be cuts coming. we expect to cut as susan as j june, 25 basis points and then more later in the year we know the u.s. has had far more robust economic picture in part down to consumer actually root health. that's starting to wane. the uk is not doing so well. we see a down growth of expectations for 2024 from 70 basis points to 40 basis points. the uk will be the laggard for growth next year, the worst of the...
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Feb 13, 2024
02/24
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. >>> let's talk more about the uk wage numbers. it grew at the lowest pace at the end of last year. according to the official data, wages grew 6.2%. still 6.2% year on year in the three months to december which was slightly better than expected. >>> u.s. consumer expectations are steady in january. the new york fed survey showed most americans see inflation unchanged at 3% in one year and coming down to 2.5% in five years. sentiment with the labor market increased with the earnings growth for the year expected of 2.88%. that is interesting. >>> investors now turn attention to the release of the official inflation data later today. we spoke about that with analysts expecting inflation to fall below 3% for the first time in years. we have emma wahl with us now. let's pick up on the inflation print and how pivotal is this number for markets? >> extremely. we are already beginning to see that in the nervousness of the cautious future. i don't think any investor, professional or otherwise, is in the business of doing valuation metrics.
. >>> let's talk more about the uk wage numbers. it grew at the lowest pace at the end of last year. according to the official data, wages grew 6.2%. still 6.2% year on year in the three months to december which was slightly better than expected. >>> u.s. consumer expectations are steady in january. the new york fed survey showed most americans see inflation unchanged at 3% in one year and coming down to 2.5% in five years. sentiment with the labor market increased with the...
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Feb 15, 2024
02/24
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you don't have to buy the uk. japan equities have been great. but you need a diverse basket away from the stock that have gotten us from here, because a year from now, the market will have a different outcome. >> steve, you and i need to take a week, ten-day trip to japan, just poke around on our own, an official cnbc visit, find out what's working, what's not, explore the back streets to figure out what exactly is going on, on some of these large economies. or maybe london. >> i'm totally with you, brian, but i want to tack on india with that. india has been the flavor of the month. i've been doing this for 30 years, brian. it seems like every time india becomes the flavor of the month, they find a way to sour the taste, and they snatch defeat from the jaws of victory. brian, are you investing as if this india story is real this time? >> india has tricked us a few times. india looks more real this time, i think with investors thinking that china may not be as real as it was. so india is part of that international equity conversation. >> i think
you don't have to buy the uk. japan equities have been great. but you need a diverse basket away from the stock that have gotten us from here, because a year from now, the market will have a different outcome. >> steve, you and i need to take a week, ten-day trip to japan, just poke around on our own, an official cnbc visit, find out what's working, what's not, explore the back streets to figure out what exactly is going on, on some of these large economies. or maybe london. >> i'm...
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May 22, 2024
05/24
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arabile has been following the uk cpi story all day long. that's a pretty big cut. >> i guess it goes along with the reprising that you see. this is a drawdown from the 3.2% figure we had in march, 2 p.23%. it's still higher than the market had anticipated. the market had 1.21%. even closer to bank of england's 2% target rate. the anticipation was if you had anything lower than that, then june as a rate cut story was certainly in play. that has shifted along quite significantly. in fact, now moving into the first fully priced rate cut is actually anticipated in november, and that is very interesting to note. the core cpi print 3.9% is the figure that then came on versus the 3.6%. it's about the inflation data that we'll take a look at. these have been interesting. they still print, remaining around that 6% number. the market had hoped that would drop off to 5.4%. bank of england was hoping for a 5% figure. that has been of concern then to a lot of policy makers, and it remaining sticky right now is another key reason why you're seeing the nu
arabile has been following the uk cpi story all day long. that's a pretty big cut. >> i guess it goes along with the reprising that you see. this is a drawdown from the 3.2% figure we had in march, 2 p.23%. it's still higher than the market had anticipated. the market had 1.21%. even closer to bank of england's 2% target rate. the anticipation was if you had anything lower than that, then june as a rate cut story was certainly in play. that has shifted along quite significantly. in fact,...
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Jan 12, 2024
01/24
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and uk carry out strikes on houthi targets in yemen. rbc's helima croft is standing by to break all that down. >>> turning attention back to wall street. investors looking at inflation and shrugging off the hotter than expected cpi report. >>> and top of the agenda with the big banks in focus. the key metrics you need to watch when the results start crossing in an hour. it is friday, january 12th, 2024. you are watching "worldwide exchange" here on cnbc. >>> welcome back to "worldwide exchange." i'm frank holland. let's pick up on the stock futures after the higher session yesterday which saw the dow hit a fresh all-time high intraday high. it would open up 75 points higher. s&p is in positive nasdaq offer the lows. nasdaq is on pace for the best week since november. we are checking the hotter than expected inflation read ahead of the ppi. the ten-year yield is below 4%. right now it is 3.97. that is the morning set up. >>> let's get to the breaking news. the u.s. and uk launching air strikes overnight against the military targets in ye
and uk carry out strikes on houthi targets in yemen. rbc's helima croft is standing by to break all that down. >>> turning attention back to wall street. investors looking at inflation and shrugging off the hotter than expected cpi report. >>> and top of the agenda with the big banks in focus. the key metrics you need to watch when the results start crossing in an hour. it is friday, january 12th, 2024. you are watching "worldwide exchange" here on cnbc. >>>...
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Feb 16, 2024
02/24
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let me tell you more about the retail sales numbers in the uk. january retail sales were up 3.4% on the month. according to the ons, it is the biggest monthly rise in sales since april of 2021. compared to the u.s., retail sales declined 0.8% in january, more than expected. the pullback was driven by building materials and garden stores and motor vehicle parts. meanwhile, weekly jobless claims fell to a seasonally adjusted 200,000. that is better than the market anticipated despite recent high profile layoffs in the tech and media sectors. let's look back at how u.s. markets have performed week to date. you will recall on tuesday we had the drop post the cpi. toward the end of the week and yesterday, after we had the weaker retail sales, the bad news was good news for the markets. look at where we are on the week. back to where we were at the start of the week which i thought was covered from the drop on tuesday as you see on the chart there. all futures look like they will be opening up in positive territory. the positive momentum and sentiment
let me tell you more about the retail sales numbers in the uk. january retail sales were up 3.4% on the month. according to the ons, it is the biggest monthly rise in sales since april of 2021. compared to the u.s., retail sales declined 0.8% in january, more than expected. the pullback was driven by building materials and garden stores and motor vehicle parts. meanwhile, weekly jobless claims fell to a seasonally adjusted 200,000. that is better than the market anticipated despite recent high...
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Jan 4, 2024
01/24
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compare that to the uk at 52.1. five figures higher in the uk than the eurozone as a whole. what is interesting is the services number is revised upwards. interesting context. the november uk services figure at 50.9. 53.4 for november. you are seeing a bit of reaction in the pound this morning. 127 is where we are right now. in terms of the broader markets, it is a risk-on day. a lot of green on the boards. you will see that in a moment. that is in contrast to what we had in the u.s. session yesterday with the three majors ending the day in the red. two back-to-back negative days for the s&p. here, every one of the european indices is on the positive footing. ftse mib is up .60%. ibex up .80%. some focus on telefonica with job cuts. dax is up .40%. sitting shy of 60,600. we are seeing a rebound in basic resources this morning. commodities doing well. also a lot of action in retailers. let me bring you the latest on what is going on within the retail space. jd sports is near the bottom of the stoxx 600 after cutting the profit forecast citing a slowdown in consumer spending a
compare that to the uk at 52.1. five figures higher in the uk than the eurozone as a whole. what is interesting is the services number is revised upwards. interesting context. the november uk services figure at 50.9. 53.4 for november. you are seeing a bit of reaction in the pound this morning. 127 is where we are right now. in terms of the broader markets, it is a risk-on day. a lot of green on the boards. you will see that in a moment. that is in contrast to what we had in the u.s. session...
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Jan 12, 2024
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and uk launched tries in retaliation on the houthi rebels. president biden says attacks by hostile ak ctors in the region will not be tolerated. you see brent shy of $79. these are the key oil majors and companies which are higher on the day. totale leading up 1.7%. the rest up .50. we see the likes of maersk up 3%. others up 1%. many of these companies have said they had to divert traffic away from the red sea and opt for longer shipping lanes around the cape of south africa. something to keep in mind there. the defense stocks in focus as well given the escalation overnight. you get a picture of some of them up 1.3%. france up 3.2%. no surprise that some of the key he big defense stocks in the european markets are trading positively this morning. let's get out to dan. dan, just walk us through the events overnight. to what extent is this being seen as a major escalation from players in the region? >> reporter: we heard from saudi arabia who said they would like the u.s. to urge restrained here given the already heightened tension in the regi
and uk launched tries in retaliation on the houthi rebels. president biden says attacks by hostile ak ctors in the region will not be tolerated. you see brent shy of $79. these are the key oil majors and companies which are higher on the day. totale leading up 1.7%. the rest up .50. we see the likes of maersk up 3%. others up 1%. many of these companies have said they had to divert traffic away from the red sea and opt for longer shipping lanes around the cape of south africa. something to keep...
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Apr 23, 2024
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services is the driver for the uk uk economy above the estimate of 53. similar to what we saw in the eurozone which was expansion. however, it was led by services with manufacturing in contraction territory. flash composite above the estimate of 52.6. manufacturing in contraction at 48.7 which is below the estimate of 50.4. services continues to be the driver at 54.9 which beats the estimate of 53. a surprise to the upside with services. > >> just as a reference point for viewers, i looked at the potential rate cuts from the bank of england, frank. they are pricing in a 75% chance of seeing the first cut in the month of august. let's see how the data will continue to pan out. with the latest data in mind, i want to take you to the equity markets in europe. we are seeing the major boards trading in the green. we have seen the ftse 100 crossing above the 8,000 mark hitting the fresh record high. it is up by about .30%. we have seen a lower sterling and weaker sterling and investors piling in on the market which contributed to the momentum with the uk equit
services is the driver for the uk uk economy above the estimate of 53. similar to what we saw in the eurozone which was expansion. however, it was led by services with manufacturing in contraction territory. flash composite above the estimate of 52.6. manufacturing in contraction at 48.7 which is below the estimate of 50.4. services continues to be the driver at 54.9 which beats the estimate of 53. a surprise to the upside with services. > >> just as a reference point for viewers, i...
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Mar 1, 2024
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it is earnings quality and power. >> let's stay in the uk. you think the uk is under priced for easing. policymakers will make one pivot. talk about that. >> i think all of the central banks talking about easing this year and the one priced to do the least is the uk. even relative to the eurozone, the growth picture is suspect. inflation has brought base cases down. that is going to be the case in the uk over the next few months. we have themeasures of real-time price pressures. they don't show anything worrying with the uk inflation. that should come down in the few months. that should give cover to the ecb. >> that's not priced at all yet. only to a certain degree. that means you are bearish on pound/sterling. what are the top trades? >> i like the dollar with the u.s. exceptionalism. the u.s. rate profile is one of the highest in the g10. that is a short-term carry trade. you funded in swiss francs. those kind of low carry trades within the g10 makes sense. local currency and emerging market bonds make sense and the brazil real is playing
it is earnings quality and power. >> let's stay in the uk. you think the uk is under priced for easing. policymakers will make one pivot. talk about that. >> i think all of the central banks talking about easing this year and the one priced to do the least is the uk. even relative to the eurozone, the growth picture is suspect. inflation has brought base cases down. that is going to be the case in the uk over the next few months. we have themeasures of real-time price pressures....
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Feb 14, 2024
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today in the uk, we also had cpi figures. treasuries are upping their bets after the surprise to the downside in january, coming in at 4% higher on the year. now, that figure comes a day before the gdp data, which could show the uk dipping into a technical recession. just one more word on those cpi figures. 4%. so unchanged versus december, but still lower than the forecast going into today of 4.2%. the core cpi figure also came in slightly lower, minus 0.2% year on year. as a consequence, markets are pushing up with rate cuts pointing to 71 basis points of cuts up from 58 this morning before this morning's cpi data. we're kind of where we were before that employment data came out in the uk yesterday. it's been a real whirlwind if you were invested in fixed income the last couple of days. let's take a look at how european markets are faring on the back of this data. you can see across the board all of these indices are actually trading in the green, so breaking with the negative price action, the ftse 100 not a surprise here,
today in the uk, we also had cpi figures. treasuries are upping their bets after the surprise to the downside in january, coming in at 4% higher on the year. now, that figure comes a day before the gdp data, which could show the uk dipping into a technical recession. just one more word on those cpi figures. 4%. so unchanged versus december, but still lower than the forecast going into today of 4.2%. the core cpi figure also came in slightly lower, minus 0.2% year on year. as a consequence,...
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Mar 12, 2024
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uk wage growth at 5.6%. excluding bonuses to 6.1% as well. it is a gradual softening, but not as pacey as the bank of engl england. >> the bank of england is not going to do nothing. they were slow to tighten in the cycl cycle. it is dropping off slowly. inflation is falling rapidly over wage growth. we have a uk gdp update this week and that is interesting to see what is happening there and if we are coming out of this. >> the ftse 100 is having a rare day. the laggard in terms of getting to record levels. is anything you are seeing at the moment out of the uk on the official data or individual corporates that is getting you more excited about the ftse 100 or is it just not the best place to park your money? >> nothing has been expected this morning. that is obviously right at the sharp end of exposure to interest rates and sensitivity toward interest rates. i suppose our view is constructive on the outlook on china. the mining and resources in the ftse 100 which is positive. of course, if we see any sterling weakness, the ftse 100 is a hedg
uk wage growth at 5.6%. excluding bonuses to 6.1% as well. it is a gradual softening, but not as pacey as the bank of engl england. >> the bank of england is not going to do nothing. they were slow to tighten in the cycl cycle. it is dropping off slowly. inflation is falling rapidly over wage growth. we have a uk gdp update this week and that is interesting to see what is happening there and if we are coming out of this. >> the ftse 100 is having a rare day. the laggard in terms of...
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May 3, 2024
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is that going to happen across the entire uk? some key issues at play that uk voters are looking at here is the poll pointing toward health being a really important factor to look out for as well. that is the key issue across the nation. the nhs being one element that has always been questioned as to whether it is able to live up to the demands that are currently instituted in the country. we have seen a lot of delays in that regard. we are looking at migration and asylum. that is also a key issue. the economy is fourth. considering we're still in the cost of living crisis in the uk and across europe as well. all of the factors will come into play. rishi sunak is facing a few issues within the party. will they look to oust him as well as leader of the party? that will be a key question mark, but the general election is on the way. that's the next equation we're looking out for as well. frank. >> great reporting, arabile. i noticed a big change. on your show, over by the water, you have a stand by the water. now you are just stand
is that going to happen across the entire uk? some key issues at play that uk voters are looking at here is the poll pointing toward health being a really important factor to look out for as well. that is the key issue across the nation. the nhs being one element that has always been questioned as to whether it is able to live up to the demands that are currently instituted in the country. we have seen a lot of delays in that regard. we are looking at migration and asylum. that is also a key...
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Jan 23, 2024
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and uk are carrying out fresh strikes on houthi targets. we have the latest on the tension in the middle east. >>> first, forget a penny for your thoughts. 13 pennies for a new home. a town in croatia is getting people to settle in the area with the population fall since 1918. >>> and speaking of incentives, you may have one more reason to hit the gym this year. $5,000 if you keep your fitness resolutions to march 29th. if the goal is not reached, the money is donated to the person's opposing political party. >>> and a doughnut shop inin ro rochester popping. the spike is leading to 39 new employees. too bad the bills lost. "worldwidexcng iba tethis.ae"s ck icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. what is cirkul? cirkul is the fuel
and uk are carrying out fresh strikes on houthi targets. we have the latest on the tension in the middle east. >>> first, forget a penny for your thoughts. 13 pennies for a new home. a town in croatia is getting people to settle in the area with the population fall since 1918. >>> and speaking of incentives, you may have one more reason to hit the gym this year. $5,000 if you keep your fitness resolutions to march 29th. if the goal is not reached, the money is donated to the...
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Jan 19, 2024
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that is showing the weakness for the uk consumer. on the other side, let's consider that better than anticipated november number with front loading spending. there could be other elements at play. the inflation print was higher than anticipated this week bring question marks in the uk economy. overall, an upbeat day in the market if it is in some places overall. week to date across europe, the ftse 100 looks to still close off the week in negative territory at 1.5%. it would be the third negative week in a row for the ftse 100. while the cac 40 did manage to gain yesterday at 1%, but it is down .50% today. or week to date i should say. italy is flat on the week with the negative tilt on the dax. on to the sectors. the travel stocks interesting yesterday. a lot of the retail stuff being the stuff we had been looking at throughout the week. retail so far is flat as we are seeing it on the upside with food and beverages gaining .20%. autos on the other side of the scale, but around the flat line. insurance managing to gain .23% as well
that is showing the weakness for the uk consumer. on the other side, let's consider that better than anticipated november number with front loading spending. there could be other elements at play. the inflation print was higher than anticipated this week bring question marks in the uk economy. overall, an upbeat day in the market if it is in some places overall. week to date across europe, the ftse 100 looks to still close off the week in negative territory at 1.5%. it would be the third...
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Jan 23, 2024
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particularly in the uk, the uk wage growth is above 6%. that is inconsistent with 2% inflation. in germany, it is 4%. that's still too high. in the u.s., it is still too high. you need to be a percent lower. that's really what makes me question whether we will get rate cuts as early as is being priced in. if we do see a sort of slowdown in the economy that tips you over this non lineal area into recession, you will have rate cuts, but they will be kdeeper and later. it is too optimistic at the front, but at the back end of the curve, you could see deeper rate cuts than currently priced in. >> that is interesting. we have seen repricing with expectations. we have to leave it there. thank you for joining us. great to have you on the show. chief strategist at bca research. >>> coming up on the show, voters head to the polls in new hampshire with two candidates to choose. we will have the latest after the break. (aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. i struggled with weight loss and weight gain my entire life. with all the yo-yo dieting i did in the past, i would lose
particularly in the uk, the uk wage growth is above 6%. that is inconsistent with 2% inflation. in germany, it is 4%. that's still too high. in the u.s., it is still too high. you need to be a percent lower. that's really what makes me question whether we will get rate cuts as early as is being priced in. if we do see a sort of slowdown in the economy that tips you over this non lineal area into recession, you will have rate cuts, but they will be kdeeper and later. it is too optimistic at the...
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May 16, 2024
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the ftse 100 out of the uk is hitting a record high in trade yesterday. that came off by the time the closing bell hit, but it was higher. overall, the picture was positive. today, however, numbers coming from siemens and bt and easy jet in the airline space and the insurers with the numbers. that has painted a mixed picture and that pushed stocks lower. the cac 40 managed to move l lower. the smi in switzerland is the one looking at gains. we are anticipating a cut in interest rates coming through soon. the anticipation is for it to come through in june. the dollar did not necessarily rally, but still no strength coming through in the euro today. it hasn't necessarily benefitted the euro somewhat. overall, you are seeing negativity across the board. it is only slight, but not following on from yesterday's rally. dom. >> arabile gumede in london with the market action in europe. thank you nfor that. let's see if the market momentum can continue with ben emons at newedge wealth. ben, this is an interesting dynamic with the regard to the interest rate pictu
the ftse 100 out of the uk is hitting a record high in trade yesterday. that came off by the time the closing bell hit, but it was higher. overall, the picture was positive. today, however, numbers coming from siemens and bt and easy jet in the airline space and the insurers with the numbers. that has painted a mixed picture and that pushed stocks lower. the cac 40 managed to move l lower. the smi in switzerland is the one looking at gains. we are anticipating a cut in interest rates coming...
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Jan 17, 2024
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or uk, it's created financial stress, and chinese are determined to avoid financial stress. >>> let's give you a quick update of the market action this morning. we are decidedly risk off today, very much taking our cues from the u.s., but primarily from the asian trading session as sentiment is being weighed down by the china data that you just alluded. to let me show you the indexes one by one the xetra dax is off by 1.2% the ftse is down 1.5%. why? we got the inflation data this morning for the month of december and that came in a touch hotter than expected at 4% most importantly, we're still looking at core inflation at 5.1% services inflation, which is so important for the boe to watch still at 6.4%. so that is weighing on the sentiment when it comes to the uk investors elsewhere, the smi and switzerland holding up a little better, off by only 1%. >>> let's move things on to the sectors here we're seeing once again indiscriminate selling in taerms of the relative outperformers, telco, a bit better. real estate and retail bearing the brunt of the loss. the loss by more than 2% yest
or uk, it's created financial stress, and chinese are determined to avoid financial stress. >>> let's give you a quick update of the market action this morning. we are decidedly risk off today, very much taking our cues from the u.s., but primarily from the asian trading session as sentiment is being weighed down by the china data that you just alluded. to let me show you the indexes one by one the xetra dax is off by 1.2% the ftse is down 1.5%. why? we got the inflation data this...
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Jan 10, 2024
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uk and u.s. war ships repelled the attack and if they don't, they will, quote, bear the consequences. >>> saudi arabia, the world's largest exporter is looking to diversify its economy and reallocate. cnbc's dan murphy spoke to saudi arabia's minister of industry at mineral resources about what the sector needs to develop. >> one of the things we have learned as a result of the large investors is they need sizeable locations, and that's why today in my opening speech i also announced this initiative of new licenses that are sizeable. we are moving from the small plots to a more sizeable one where large mining companies can see the potential. >> amid the green san sigs, so-called rare earth elements are becoming increasingly more important. china dominates global supply and has recently placed the exp exports in the stream. however, a small, small mine in wyoming owned by our next guest seems to provide an extra boost to the u.s. it's actually a cole mine. what i thought fascinating about your sto
uk and u.s. war ships repelled the attack and if they don't, they will, quote, bear the consequences. >>> saudi arabia, the world's largest exporter is looking to diversify its economy and reallocate. cnbc's dan murphy spoke to saudi arabia's minister of industry at mineral resources about what the sector needs to develop. >> one of the things we have learned as a result of the large investors is they need sizeable locations, and that's why today in my opening speech i also...
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Apr 16, 2024
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we got uk labor market which paints a grim picture. at this stage, it pefeels equity investors are shrugging off the data from china today. the gdp number was above what markets were expecting that does not seem to be the focus for investors at this stage. i want to show you the sectors at this stage in the european session. all of the sectors are trading in the red telecom is out performing the market one dynamic is we got earnings from ericsson this morning it is boosting a bit in that sector, but not enough to put it in the green at this stage at the bottom, we have basic resources down 2.5%. significant moves when it comes to basic resources some concerns there about weak metal prices which is infl influencing the sector as well as we are tracking airlines. some airlines had to cancel flights over the middle east region because of the geopolitical uncertainty we heard from lufthansa which slashed the outlook for the year when he itit comes to the bond market, it is forimportant to se the data from the united states and the comments
we got uk labor market which paints a grim picture. at this stage, it pefeels equity investors are shrugging off the data from china today. the gdp number was above what markets were expecting that does not seem to be the focus for investors at this stage. i want to show you the sectors at this stage in the european session. all of the sectors are trading in the red telecom is out performing the market one dynamic is we got earnings from ericsson this morning it is boosting a bit in that...
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Jun 11, 2024
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the uk labor market is cooling. unemployment rate rose in april. wages excludeing bonuses grew 6% on the year. the uk's governing conservative party will reveal its manifest tow later this morning. tax cuts and offering to pensions are expected to form the centerpiece of the plan. meanwhile, new analysis from sky news our sister channel shows the ruling conservatives trailing the opposition all about -- labour party. let's unpack this and the issues for the uk election as it comes up. rachel blake is a labour candidate for the cities of london and west minuter is joining us. thank you for the time. we appreciate it. one can imagine the significance of the cities of london and west minuter being led by labour for the first time in history would not be lost on you. some of the issues that could be at play and you make note of them in your campaign here which is tackling dirty money. what does that look like? >> absolutely. good morning, and thank you very much for having meal on the show this morning. so one of the things i've been campaigning on is
the uk labor market is cooling. unemployment rate rose in april. wages excludeing bonuses grew 6% on the year. the uk's governing conservative party will reveal its manifest tow later this morning. tax cuts and offering to pensions are expected to form the centerpiece of the plan. meanwhile, new analysis from sky news our sister channel shows the ruling conservatives trailing the opposition all about -- labour party. let's unpack this and the issues for the uk election as it comes up. rachel...
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Jan 18, 2024
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. >> what shape do you think the uk consumer is in? it feels different pent up saving do you think the consumer is in good shape in 2024 >> i think the uk consumer is in good shape on the other hand, it is a floating rate mortgage market. a lot of adjustment has happened the average term is three years fixed. we had three years of rising rates. the two things that hit the pocketbook have come down. i'm optimistic on uk growth is great. it is not as strong as the united states. there are so many advantages in the uk and it is the rhome of innovation and technology. you had the chancellor here earli earlier. this election is not margaret thatcher >> i remember being an options trader in the early '90s if it is labour, it is down, if it is tory, it is up it is not hunts and reads. as aregular banker at a regula bank, all i get is a drip feed of information about the strategic review and the stunningly tough job for you you paid a lot of money for this i know you are giving us full details in february. what can you tell us about the review
. >> what shape do you think the uk consumer is in? it feels different pent up saving do you think the consumer is in good shape in 2024 >> i think the uk consumer is in good shape on the other hand, it is a floating rate mortgage market. a lot of adjustment has happened the average term is three years fixed. we had three years of rising rates. the two things that hit the pocketbook have come down. i'm optimistic on uk growth is great. it is not as strong as the united states. there...
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May 10, 2024
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we turn our attention back to london we're at all-time highs with the uk growth. silvia amaro is here with me fresh records with the boards and bond yields easing it is a goldilocks situation >> let me tell you the news that contributed to the positive momentum in europe looking at the uk, we got new gdp numbers this morning the economy has officially left recession. the uk grew by 0.6% in the first three months of the year that is above the 0.4% forecast. jeremy hunt showed the economy is returning to full health. that is contributing to the positive momentum we are seeing in the ftse 100 and ftse mib hitting new record highs it is up .70%. we are also keeping an eye on the bond market and currency space in the situation of the bank of england decision yesterday. central bank sounded dovish than what markets were expecting. on the back of that, we are seeing a little bit more of strength when it comes to sterling against the u.s. dollar let's look at the equity space here as i said earlier, it is a positive week so far to give you an idea with yesterda yesterday'
we turn our attention back to london we're at all-time highs with the uk growth. silvia amaro is here with me fresh records with the boards and bond yields easing it is a goldilocks situation >> let me tell you the news that contributed to the positive momentum in europe looking at the uk, we got new gdp numbers this morning the economy has officially left recession. the uk grew by 0.6% in the first three months of the year that is above the 0.4% forecast. jeremy hunt showed the economy...
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Mar 6, 2024
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. >> reporter: and it's bunt day in the uk. jeremy walks a tightrope as personal cuts dominate the ag agenda we'll bring you his speech live at 12:30 gmt >>> a warm welcome to "street signs. let's lead off with our top story this hour. nbc news projecting that former president donald trump has won 14 of the 15 republican super tuesday races with rival nikki haley taking victory in one state. that's 157 delegates that's 150 short of the number required to clinch the nomination nikki haley lags well behind with just 92 now, speaking in florida as the results rolled in, trump said he expected his victory to bring harmony. >> all of the problems you have today, i don't think you would have had any of them, you would have only had success. that's what's ultimately going to unify this country and unify this party we have a great republican party with tremendous talent and we want to have unity, and we're going to have unity, and it's going to happen very quickly i've been saying lately success will bring unity to our country. >> whil
. >> reporter: and it's bunt day in the uk. jeremy walks a tightrope as personal cuts dominate the ag agenda we'll bring you his speech live at 12:30 gmt >>> a warm welcome to "street signs. let's lead off with our top story this hour. nbc news projecting that former president donald trump has won 14 of the 15 republican super tuesday races with rival nikki haley taking victory in one state. that's 157 delegates that's 150 short of the number required to clinch the...
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Mar 20, 2024
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we had inflation numbers out of the uk, 3.4%, setting us up for the bank of england tomorrow. a lot of focus on the three central banks today. let me show you what we've got for the stoxx 6 un. we're weaker, giving back some territory after yesterday where we bounced about a quarter of a percent. let's take a look at where selling is taking place. no doubt, home goods is front and center this morning. we're waiting for word on how that trade is this morning. by sectors we did see a little bit of a softness. in europe, technology's at the top, but our version of techs which is household goods and luxuries is right at the bottom. we're waiting. the market is treating its kering warning as an isolated event. oil and gas is down. naturals down 0.4%. banking stocks down by a third. modest declines taking place here. insurance stocks slightly below the line. from there we start to push green base resources up just over a tenth. health care names, media, i.t., utilities down. let's take a look at the indices and what we've got for the ftse. 77.34. the weakness coming through from the
we had inflation numbers out of the uk, 3.4%, setting us up for the bank of england tomorrow. a lot of focus on the three central banks today. let me show you what we've got for the stoxx 6 un. we're weaker, giving back some territory after yesterday where we bounced about a quarter of a percent. let's take a look at where selling is taking place. no doubt, home goods is front and center this morning. we're waiting for word on how that trade is this morning. by sectors we did see a little bit...
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Mar 7, 2024
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. >>> uk building society nationwide is buying virgin money for 2.9 billion pounds. the price of virgin money going up 37%. >>> coming up on the show, we will be joined by the ceo of the world's largest duty free operator of avolta. that is coming up on cnbc next. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. >>> it's the second half of the show. welcome to "street signs." i'm arabile gu
. >>> uk building society nationwide is buying virgin money for 2.9 billion pounds. the price of virgin money going up 37%. >>> coming up on the show, we will be joined by the ceo of the world's largest duty free operator of avolta. that is coming up on cnbc next. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a...
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Feb 19, 2024
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basic resources out with a couple of report cards here in the uk. really interesting corporate stories to tell you about this morning. u.s. fda approved the astrazeneca cancer drug in combination with chemo to treat a certain type of lung cancer. the drug improved survive in late stage lung cancer by nearly nine months. take a look at the stock with a pop of 3.4%. >>> have a look at shares of currys up 33%. this is the biggest move in 23 years on the back of this news that jd dim.com is in the move the cash offer. a top shareholder in the company said the chain should hold out for an offer of at least 75 pence a share. trading at 63. we might see a bit of upside here and we will keep an eye on the bidding war. >>> let's push on with chinese lunar new year revenue. surged to 50% to 630 billion yuan. the data will come as relief for policymakers in the second largest economy in the world which has struggled with disinflation pressure and weaker consumer. sam baddas filed this report. >> reporter: china is kicking off the year of the dragon on a stella
basic resources out with a couple of report cards here in the uk. really interesting corporate stories to tell you about this morning. u.s. fda approved the astrazeneca cancer drug in combination with chemo to treat a certain type of lung cancer. the drug improved survive in late stage lung cancer by nearly nine months. take a look at the stock with a pop of 3.4%. >>> have a look at shares of currys up 33%. this is the biggest move in 23 years on the back of this news that jd dim.com...
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Apr 12, 2024
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and uk. how does this impact the ability of the banks to forecast ahead and impacting commercial real estate? >> that is a really good question. in terms of forecasting ahead, the banks tend to be conservative in the forecasting. moves don't change the calculus too much. i think commercial real estate is still an area of weakness. we will see that particularly in wells fargo numbers which is an area of concern. i think what is more meaningful about the movements is there are a lot of moving parts to give us a strength of the u.s. economy. >> the strength of the bank stocks. does that give them the ability to be conservative? citi is up 16%. wells fargo with a similar number. does this give them room to be conservative? eight months ago, there were concerns with the banking sector and possible consolidaconsolida. >> it is a rare thing to say u.s. banks out performed anything, let alone the s&p with the mag seven. if you look at valuation, they are 12 times earnings on the forward basis. histor
and uk. how does this impact the ability of the banks to forecast ahead and impacting commercial real estate? >> that is a really good question. in terms of forecasting ahead, the banks tend to be conservative in the forecasting. moves don't change the calculus too much. i think commercial real estate is still an area of weakness. we will see that particularly in wells fargo numbers which is an area of concern. i think what is more meaningful about the movements is there are a lot of...
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Jun 3, 2024
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>>> uk challenger bank monzo reported a pre-tax profit of 450 million pounds. that's against a loss of 415 million pounds the previous year. the bank has gained 10 million customers since launching in 2015. i'm joined now by the ceo ts ra anil. thank you for joining us. there was a question around you being a growing concern. that is out the window. >> arabile, thank you for having me on the show. isn't it fun to prove the i naysayers wrong? we have the first full-year profitability with 400,000 small businesses. a huge capital raise and exciting product. >> there's the investment side that you really notched on to, but what about lending? is that a key part of your business or where you see whthis going? >> arabile, if i could pback upa bit. the mission is making money work for everyone. what that means with the product vision is the idea that in a single place, you have meet all of your money needs. save and invent all in the place that transform the relationship with money. if you keep that as the back drop, investing that you spoke about is one of the many
>>> uk challenger bank monzo reported a pre-tax profit of 450 million pounds. that's against a loss of 415 million pounds the previous year. the bank has gained 10 million customers since launching in 2015. i'm joined now by the ceo ts ra anil. thank you for joining us. there was a question around you being a growing concern. that is out the window. >> arabile, thank you for having me on the show. isn't it fun to prove the i naysayers wrong? we have the first full-year...
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May 28, 2024
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that tells you there are a number of cuts coming from the uk t ecb. they will open the door. we will get three cuts and more in 2025. >> that is not necessarily what the market is pricing in right now. the market is pricing in from the ecb this year. >> we are seeing ass shift of expectations around the next week's meeting from the ecb. that is good news for european equities >> let's stay with the equities space. you have an interesting call with the european equities against u.s. equities. can you elaborate? >> i think in the u.s. equities, there is a lot of positive stories, but they are fully valued in terms of looking at valuations price earnings ratio or relative outlook versus bonds we think that the slowing of the economy, which we're seeing through the summer, will not benefit the u.s. equity market it will not really compel markets with more rate cuts. we will see a choppy environment. the re-rating of the ecb easing cycle should see european equities out performing in the rest of the year. >> european equities, potentially out perform equities mike, can i challenge
that tells you there are a number of cuts coming from the uk t ecb. they will open the door. we will get three cuts and more in 2025. >> that is not necessarily what the market is pricing in right now. the market is pricing in from the ecb this year. >> we are seeing ass shift of expectations around the next week's meeting from the ecb. that is good news for european equities >> let's stay with the equities space. you have an interesting call with the european equities against...
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Jan 24, 2024
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the pmis in the uk actually went up, whereas in the eurozone we went sideways or down. we noticed this positive change in december. let's see how this continues in january. but overall if we recall in december, the bank of england had a hawkish hold they held rates, but three members were voting for an increase so in our view, the first cut will come in may from the bank of england, but we said there's a clear risk it will only happen in august. >> let me go back to the ecb and what we got in the january numbers. we've still got the february, march, april numbers to get through. at what point do you think their shift is going to focus toward growth as opposed to wage signals, inflationary pressures, and really start focusing on the inflationary outlook that's facing the eurozone right now? >> the ecb has only one target, and that is inflation. you're correct growth is very weak. but the crucial question is always what's the disinflationary impact of weak growth they need to see the risk rate is really coming under control and what is new and what is different in the eur
the pmis in the uk actually went up, whereas in the eurozone we went sideways or down. we noticed this positive change in december. let's see how this continues in january. but overall if we recall in december, the bank of england had a hawkish hold they held rates, but three members were voting for an increase so in our view, the first cut will come in may from the bank of england, but we said there's a clear risk it will only happen in august. >> let me go back to the ecb and what we...
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Mar 5, 2024
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we talked a few weeks ago about doing 2,000 locations across the uk. it's a coverage play. it is not about capacity in central london where the wework locations are which are central in new york. there could be oversupply. >>> coming up on the show, bad apple. eu slapping the giant with a 1.8 billion euro fine for breaking streaming rules as brussels' scrutiny of big tech firms heats up. why choose a sleep number smart bed? can it keep me warm when i'm cold? wait, no, i'm always hot. sleep number does that. can i make my side softer? i like my side firmer. sleep number does that. can it help us sleep better and better? please? sleep number does that. 94 percent of smart sleepers report better sleep. and now, the queen sleep number c4 smart bed is only $1,599, save $300. shop now at sleepnumber.com hi, i'm denise. i've lost over 22 pounds with golo in six months and i've kept it off for over a year. i was skeptical about golo in the beginning because i've tried so many different types of diet products before. i've tried detox, i've tried teas, i've tried all different types
we talked a few weeks ago about doing 2,000 locations across the uk. it's a coverage play. it is not about capacity in central london where the wework locations are which are central in new york. there could be oversupply. >>> coming up on the show, bad apple. eu slapping the giant with a 1.8 billion euro fine for breaking streaming rules as brussels' scrutiny of big tech firms heats up. why choose a sleep number smart bed? can it keep me warm when i'm cold? wait, no, i'm always hot....
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Mar 22, 2024
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the uk is our biggest trading partner. i think the reestablishment of the assembly in northern ireland and i mentioned last week where it was great to see the deputy and the ministers on the stage in d.c. talking about that opportunity. for my perspective, we see the advantage coming forward. northern ireland has a unique opportunity with the trade agreement from the uk and europe. that can be for the benefit of the whole of ireland. >> super to see you. it is good to hear the latest on the irish development. thank you very much for your time. congrat lulations on the six nations. >> thank you very much. >> you didn't win the grand slam? >> sorry. >> i can't remember why? anyone? irish director in my ear? i can't remember. >> to get grand slams back-to-back is difficult. kudos to england. >> amazing game. lovely to see you, michael. the ceo of ida ireland. coming up on the show, vodafone gets the call as the mobile provide faces the heat from breakdown of the penalotti deal. we break down that story next. when i started in
the uk is our biggest trading partner. i think the reestablishment of the assembly in northern ireland and i mentioned last week where it was great to see the deputy and the ministers on the stage in d.c. talking about that opportunity. for my perspective, we see the advantage coming forward. northern ireland has a unique opportunity with the trade agreement from the uk and europe. that can be for the benefit of the whole of ireland. >> super to see you. it is good to hear the latest on...
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Mar 26, 2024
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seeing significant changes for this company alongside the uk ftse 100 overall $30 billion company that we are speak bengal here. t speaking about here it is speaking about m&a and will pursue the right options. more purchases out of the united states is something they heare looking toward profits are coming down out of the australian business. the company expects a 30% jump in 2024 earnings on the back of the better u.s. numbers which is the anticipation heading into the year 2023 was, however, the u.s. business' first year where they saw the ebitda it is propelling higher in the united states. they have the pre-tax loss with the bottom line higher than the market had anticipated, total revenue goes significantly higher than the market anticipated at $11.97 billion. karen. >> arabile, thank you very much. >>> the smiths group ceo will step down to pursue new opportunities in the united states he will be replaced by roland carter smiths' group reporting a first half revenue of 1.5 billion pounds and a pre-tax profit of 171 million pounds the stock is trading weaker today. >>> let's move
seeing significant changes for this company alongside the uk ftse 100 overall $30 billion company that we are speak bengal here. t speaking about here it is speaking about m&a and will pursue the right options. more purchases out of the united states is something they heare looking toward profits are coming down out of the australian business. the company expects a 30% jump in 2024 earnings on the back of the better u.s. numbers which is the anticipation heading into the year 2023 was,...
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May 30, 2024
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we have uk coming up. we have u.s. later on in the year. clearly, that could have impacts on policies and regulations which adds to the question marks around deals. what we do know is investors are looking for windows where they can find pockets of certainty and find confidence around valuations to get deals over the line. with political uncertainty and also uncertainty around monetary policy, where will interest rates be in the next weeks and months, that sis a question mar hanging over the market. >> i'm worried about the private equity houses chomping at the bit. they are waiting to go public and returning the lps. they are under the pressure. what kind of i a window are the waiting for? is it the valuations that are not really in line with what they're expecting, especially if they're fund raising at the same time? >> a mixture of all of the above. we know that gps, private equity firms, are under pressure to create liquidity and distribute back to lps. we have seen a challenging year for distribution. lps are chomping at the bit to see
we have uk coming up. we have u.s. later on in the year. clearly, that could have impacts on policies and regulations which adds to the question marks around deals. what we do know is investors are looking for windows where they can find pockets of certainty and find confidence around valuations to get deals over the line. with political uncertainty and also uncertainty around monetary policy, where will interest rates be in the next weeks and months, that sis a question mar hanging over the...