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Search resuls for: "Lucy Raitano Samuel Indyk"


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☆ UK budget winners and losers: the pound, gilts and stocks
  + stars: | 2023-03-15 | by ( Lucy Raitano Samuel Indyk | Lucy Raitano | Samuel Indyk | ) www.reuters.com   time to read: +6 min
LONDON, March 15 (Reuters) - Finance minister Jeremy Hunt presented less gloomy forecasts for Britain's economy at his Spring Budget on Wednesday. Reuters Graphics Reuters GraphicsROSIER OUTLOOKA rout in global banking stocks on Wednesday overshadowed many UK-specific moves. Investments announced by Hunt such as a corporate spending tax break, a boost for defence and extra childcare support were not viewed as particularly inflationary. Unlike in the last budget, noise around windfall taxes on oil and gas companies was muted in the run-up to the budget since energy prices have fallen dramatically since then. "In general, the budget is not the big story for gilts right now, global drivers are in the driving seat," said James Smith, economist at ING.
☆ The pound, gilts and stocks: likely winners and losers from UK budget
  + stars: | 2023-03-13 | by ( Lucy Raitano Samuel Indyk Joice Alves | Lucy Raitano | Samuel Indyk | ) www.reuters.com   time to read: +7 min
Meanwhile, extremely wide forecasts for new public borrowing requirements make the outlook for government bonds uncertain. Here are the main budget predictions for UK stocks, gilts and the pound. However NatWest analysts flagged that the OBR will likely revise down growth forecasts for the next five years, making the outlook for interest rates finely balanced. Hunt will likely keep the budget "reasonably dull" after Truss's "mini-budget" sent sterling to its lowest on record, she added. Investors in UK stocks are already grappling with a wide valuation gap with U.S. equities.
☆ Britain's FTSE 100 blue-chip index hits record high
  + stars: | 2023-02-03 | by ( Lucy Raitano Samuel Indyk | Lucy Raitano | Samuel Indyk | ) www.reuters.com   time to read: +4 min
[1/2] A man is reflected in an electronic board showing Britain's FTSE 100 outside a brokerage in Tokyo, Japan, June 27, 2016. REUTERS/Toru HanaiLONDON, Feb 3 (Reuters) - Britain's blue-chip FTSE 100 (.FTSE) index hit a record high on Friday, in what could mark a potential turning point for UK assets, which have been dogged by a floundering economy. The FTSE 100 rose to 7,906.58 at 1545 GMT, surpassing a previous record high of 7,903.50 hit on May 22 2018. "Is it realistic that the FTSE being at an all-time high when we consider the state of the UK economy? The FTSE 100 closed Friday up 1.04% higher and has rallied 4.9% so far this year.
☆ Analysis: Britain Plc buckles up for sale season as UK shares look cheap
  + stars: | 2022-12-15 | by ( Lucy Raitano Samuel Indyk | Lucy Raitano | Samuel Indyk | ) www.reuters.com   time to read: +5 min
[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. An investor in Wood Group (WG.L), an oilfield services company, urged the company to buy back some of its own shares to avoid being a target. The domestically-focused FTSE 250 (.FTMC) is down by almost a fifth this year while the internationally-focused blue-chip FTSE 100 (.FTSE) is up 0.8% thanks to a drop in the pound. A currency advantage alone does not necessarily kick-start deals though, according to Owain Evans, co-head of UK M&A for Goldman Sachs. "Large corporates continue to look at 'bolt-ons', where they can draw on existing facilities to do those deals, that's why the mid-cap space is attractive to the strategics in this environment," said Celia Murray, head of UK M&A at JPMorgan.
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