budget

Oil stocks and miners are leading the FTSE risers this morning after BP reported a doubling of quarterly profits and the best underlying results in over five years.

The era of austerity might be “coming to an end”, but given the circumstances, it’s not coming to a swift end, so the Budget’s market impact was therefore almost invisible.

European indices opened a touch higher and are holding the trend despite a mixed set of results from major banks.

There were two major market-moving events from this report, the first was the sharp downgrade to the UK growth forecasts, the second was the £44bn increase in capital funding, loans and guarantees over the next 5 years to deliver 300,000 more homes on average by the mid 2020’s, which managed to eclipse the bad news on the economy. So, what does this mean for markets?

All eyes are on the Chancellor today from approx. 1230 GMT when he will deliver his second Budget of the year. As we have mentioned before, the Chancellor has been asked to do the impossible: boost spending in multiple departments, while at the same time sticking to the Tory government’s self-imposed deficit reduction targets.

This Wednesday 22nd November, the UK Chancellor will deliver his first full Budget. This is expected to be fairly unspectacular, with the main announcements already well flagged including: widening home ownership, a new tech fund, small tweaks to the tax code, tax relief to spur North Sea oil investment, and cash for the NHS. But who will be the market winners and losers? Get our take.

The general consensus going into today’s UK budget is that Chancellor Philip Hammond will disappoint and that the GBP/USD may extend its declines towards 1.20. […]

There’s something for everyone this week: rate decisions from the Reserve Bank of Australia and European Central Bank; the UK’s budget, and the monthly US […]

It is going to be a big day for the UK assets with the budget due for release shortly and after this morning’s slightly stronger […]

Apparently, the term “brinkmanship” came widely into use during the Cold War, when both sides sought to push their opponent to the brink of outright […]

As the situation in Greece has deteriorated, many traders speculated that pound sterling would be the big beneficiary, serving as a regional safe haven for […]