Walker Crips' Market Commentary

UK economic data last week highlighted renewed inflation pressures and persistent uncertainty. Food inflation hit a one-year high in May, rising 2.8% year-on-year. Kantar reported that grocery prices surged 4.1%, the highest in 15 months, driven by higher payroll taxes and minimum wage hikes. Business confidence slumped, with Confederation of British Industry (“CBI”) surveys showing sharp declines across services, as firms cited rising employment costs and tax burdens. The Bank of England (“BoE”) Governor, Andrew Bailey, urged caution on rate cuts, citing inflation uncertainty and trade risks, while Monetary Policy Committee (“MPC”) member Alan Taylor advocated for easing due to downside risks. Despite headwinds, Lloyds' business barometer rebounded to 50%, buoyed by Donald Trump's softened tariff stance and a US-UK trade deal. However, artificial intelligence (“AI”) disruption concerns mounted, with youth unemployment rising to 12.6%...Stocks featured:Auto Trader Group, GSK and M>o find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week, UK markets digested a slew of conflicting economic signals. April's inflation unexpectedly rose to 3.5%, a 15-month high, driven by higher energy costs, tax changes and wage pressures, dampening expectations for further Bank of England (“BoE”) rate cuts. Gilt yields surged and the pound touched a two-year high. BoE Chief Economist Huw Pill warned against aggressive easing, citing persistent services inflation and weakening disinflation momentum, while policymaker Swati Dhingra defended her vote for a 0.5% cut, highlighting a long-term outlook. The Purchasing Managers' Index (“PMI”) data showed the private sector contracted slightly in May, dragged by manufacturing weakness, despite services expansion. Retail sales jumped 1.2% in April, buoyed by sunny weather, supporting first-quarter growth of 0.7%. Consumer confidence improved, helped by better economic prospects and recent trade deals. The outlook remains uncertain as inflation risks challenge the case for monetary easing...Stocks featured:Diploma, Fresnillo and JD Sports FashionTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Global equity markets delivered strong gains last week, with the United States leading the advance following encouraging developments in trade negotiations and solid earnings results. The S&P 500 and Nasdaq moved higher after the US and China reached an agreement to ease trade tensions during talks held in Switzerland. The agreement involves a 90-day suspension of most newly imposed tariffs. As part of the deal, US tariffs on Chinese goods will drop from 145% to 30%, while Chinese tariffs on US imports will fall from 125% to 10%. Markets responded positively to the prospect of a more constructive trade relationship between the world's two largest economies. Additional optimism stemmed from corporate activity, including confirmation that Saudi Arabia will be permitted to purchase advanced semiconductor chips from major US technology firms. Meanwhile, Qatar Airways placed a record aircraft order worth $96 billion from Boeing. These announcements further boosted sentiment, helping major indices recover above their early April levels by the end of the week...Stocks featured:Airtel Africa, Entain and Imperial BrandsTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Global markets showed mixed results last week, with the US equity market ending lower after a strong performance in the previous week, when the S&P 500 rebounded above its early April decline following President Trump's reciprocal tariff announcement. The losses were partly offset this week by positive de-escalation developments with China. It was confirmed yesterday, following talks in Geneva, that the two countries would reduce tariffs on each other's goods for at least the next 90 days. The additional levies imposed by the US on China earlier this year will be lowered to 30%, while China's tariffs will decline to 10%...Stocks featured:Centrica, Endeavour Mining and International Airlines GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Markets rebounded last week, led by the United States (“US”), as global risk sentiment improved amid signs of de-escalating trade tensions. China confirmed it is evaluating recent US overtures, while negotiations with Mexico progressed constructively. The S&P 500 recovered to levels above the early April decline following Donald Trump's “Liberation Day” tariff announcement...Stocks featured:Associated British Foods, Glencore and Smith & NephewTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

UK economic sentiment weakened sharply last week as global trade tensions intensified. The International Monetary Fund (“IMF”) cut the UK's 2025 growth outlook to 1.1%, the steepest downgrade among major European economies, but noted the UK may still outpace G7 peers. Economic activity slowed sharply, with the composite Purchasing Managers' Index (“PMI”) falling to a 29-month low of 48.2, signalling a contraction. Consumer confidence deteriorated amid rising cost pressures, though retail sales surprised to the upside. Business leaders voiced concern over red tape costs and the threat of tariffs, warning of imminent job losses unless a US trade deal is struck. However, KPMG's survey found financial services leaders remain optimistic about London's prospects, planning significant investments despite global uncertainties. The Bank of England (“BoE”) indicated it would weigh the impact of trade shocks at its May meeting, with rate cuts still in play. Overall, markets faced mounting signs of economic stress alongside cautious policymaker rhetoric...Stocks featured:Antofagasta, Croda International and Marks & SpencerTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week, the UK economy grappled with escalating global trade tensions. UK inflation eased more than expected in March, with headline Consumer Price Index (“CPI”) falling to 2.6% from 2.8%, fuelling expectations of a Bank of England (“BoE”) interest rate cut in May. Core and services inflation also edged lower, reinforcing the view that monetary policy may soon shift. Economists noted tariffs might prove disinflationary, especially with weaker domestic growth. Markets are now almost fully pricing in three rate cuts this year. However, policymakers face uncertainty, with BoE policymaker Megan Greene highlighting the unpredictable impact of US tariffs and dollar weakness on UK inflation. Labour market signals remained mixed: claimant count rose and payrolled employment fell, but job postings climbed 3.3%, business sentiment weakened, CFOs grew defensive and the Institute of Chartered Accountants in England and Wales (“ICAEW”) confidence turned negative...Stocks featured:Bunzl, Endeavour Mining and J SainsburyTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week was marked by turmoil, as global trade tensions and market volatility drove a sharp shift in UK interest rate expectations. Investors are now pricing in up to four Bank of England (“BoE”) rate cuts this year, with a 0.25% move likely in May and nearly 0.9% of easing by year-end. Former BoE officials called for bold action, including a 0.5% cut or even an emergency meeting. The BoE flagged financial stability risks from global fragmentation, while deputy governors flagged growth headwinds from US tariffs. UK growth forecasts for 2025 were slashed to 0.8%, and confidence remained fragile despite February's surprise 0.5% Gross Domestic Product (“GDP”) rise. Labour market data showed a rise in candidate availability and soft wage pressures. Consumer sentiment flatlined, and retail footfall declined due to Easter timing and global uncertainty. Inflation implications remained unclear, further complicating the BoE's policy outlook...Stocks featured:BP, Fresnillo and GSKTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Donald Trump's long-anticipated tariff plan was unveiled last week, marking a significant escalation in US trade policy. At its core is a universal 10% tariff on all imports, supplemented by steep country-specific duties including 34% on China, 32% on Taiwan, 46% on Vietnam and 20% on the European Union (“EU”). These rates were calculated using a deficit-to-export ratio methodology. The United Kingdom, which maintains a goods trade surplus with the US, was subject only to the baseline rate, and is expected to prioritise securing a bilateral trade agreement rather than pursuing immediate retaliation. Canada and Mexico retained their existing 25% tariffs, though USMCA (United States - Mexico - Canada Agreement) compliant goods remain exempt. In response, China imposed a blanket 34% tariff on all US imports, intensifying global trade tensions and catalysing a broad market sell-off...Stocks featured:Associated British Foods, Glencore and St. James's PlaceTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy continued to display mixed signals, with improved business activity but lingering weaknesses. The composite Purchasing Managers' Index (“PMI”) hit a six-month high of 52 in March, led by a rebound in services (53.9), though manufacturing slumped to an 18-month low (44.6). Bank of England (“BoE”) Governor Andrew Bailey emphasised trade and artificial intelligence (“AI”) as key to future growth but warned of weak productivity. Inflation fell more than expected to 2.8% in February, though services inflation remained high at 5%. Consumers are cutting spending amid economic uncertainty, while small businesses plan to pass Chancellor Rachel Reeves' tax hikes onto customers. The Confederation of British Industry (“CBI”) reported a sharp drop in retail sales, highlighting weak consumer demand. Fiscal and trade uncertainties continue to weigh on the UK's economic outlook...Stocks featured:Ferrexpo, Ithaca Energy and Ocado GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England (“BoE”) maintained its base rate at 4.5% last week, prioritising a gradual approach amid persistent inflation and wage pressures. Markets are now assigning a 70% probability of a May rate cut, with only two reductions anticipated this year, fewer than economists forecasted. The Organisation for Economic Co-operation and Development (“OECD”) has downgraded UK growth projections for 2025 and 2026, citing global trade risks. Business sentiment remains cautious, with 57% of firms expecting a recession. Manufacturing output has weakened sharply, and insolvencies are rising. Consumer confidence is improving, but investment hesitancy persists due to fiscal uncertainty. Options traders are increasingly betting on more aggressive BoE rate cuts. However, the BoE is facing challenges, balancing weak growth with persistent inflation risks, particularly in the face of global trade tensions...Stocks featured:Compass Group, Kingfisher and PrudentialTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy showed signs of strain last week, with a cooling jobs market, weak consumer spending and rising corporate distress. Hiring slowed in February, with the smallest increase in starting salaries in four years, while permanent job appointments declined for the 29th month. Consumer spending growth lagged behind inflation, signalling cautious sentiment amid economic uncertainty. Business distress hit a post-pandemic high, with 11.2% of firms struggling due to high debt costs. The economy contracted 0.1% in January, driven by a manufacturing downturn, adding pressure on Chancellor Rachel Reeves ahead of the Spring Statement. Meanwhile, the government faces economic challenges as growth remains sluggish, casting doubt on its ambitious targets...Stocks featured:IAG, Melrose Industries and TescoTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy faced continued headwinds last week, with slowing growth and persistent inflation concerns. The British Chamber of Commerce cut its 2025 gross domestic product (“GDP”) growth forecast to 0.9% from 1.3%, citing rising cost pressures. The Bank of England (“BoE”) monthly survey of UK Chief Financial Officers (“CFOs”) showed inflation expectations ticking up, with year-ahead consumer price index (“CPI”) at 3.1% from 3.0%, whilst most economists expect gradual cuts, bringing rates to 3.75% by year-end. Investor sentiment remained fragile, with UK takeovers by foreign firms plunging to £4.5 billion in Q4 2024, the lowest since the Covid-19 pandemic. However, domestic mergers and acquisitions surged to £8.6 billion from £1.9 billion in Q3, reflecting a shift towards local consolidation. In fiscal policy, Chancellor Rachel Reeves hinted at further public spending cuts to remain within fiscal constraints, as higher borrowing costs, increased future defence spending and downgraded growth forecasts limit fiscal flexibility. The Treasury is now preparing deep budgetary reductions, with several billion pounds in spending cuts under review ahead of the Spring Budget, with the Institute of Fiscal Studies saying that the chancellor could even be forced to raise taxes to plug any gap in finance...Stocks featured:Fresnillo, Melrose Industries and Rentokil InitialTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy showed further signs of strain last week, with job postings hitting a four-year low in January. Wages continued to rise, reaching a record average of £40,846, adding to the Bank of England's (“BoE”) inflationary concerns. Retailers warned of price increases due to higher national insurance and minimum wage hikes, particularly in the food sector. Meanwhile, a Reuters poll suggested the BoE could cut rates to 3.75% this year, with housing prices expected to rise as borrowing costs fall. The net-zero economy remained a bright spot, growing three times faster than the overall economy and contributing £83 billion in Gross Value Added (“GVA”). However, higher energy bills and taxation concerns are weighing on businesses, with two-thirds of hospitality firms set to cut jobs. Despite economic pressures, Lloyd's business barometer showed optimism, rebounding to its highest level since August 2024...Stocks featured:BAE Systems, Rolls-Royce and WPPTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week, Bank of England ("BoE") Governor Andrew Bailey reaffirmed a cautious policy stance, highlighting the UK economy's stagnation despite a slightly stronger fourth quarter Gross Domestic Product (“GDP”). Inflation surprised on the upside, rising to 3% in January - its highest in 10 months - driven by transport and food costs. Wage growth showed mixed signals, with official data indicating resilience but private surveys pointing to a slowdown. The job market weakened, with rising redundancies ahead of April's National Insurance hike. Retail sales unexpectedly surged in January, but consumer confidence hit its lowest level since Labour took office. Corporate insolvencies reached a five-year-high, particularly in construction and retail. Meanwhile, manufacturing volumes continued to decline, although future expectations improved...Stocks featured:Centrica, Glencore and Lloyds Banking GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy faced mixed signals last week, with the Bank of England ("BoE") rate cuts struggling to filter through to borrowing costs, partly due to US market influence. Chief Economist Huw Pill warned against assuming inflation is conquered, advocating for a cautious policy approach. Meanwhile, the labour market has weakened significantly, with job vacancies falling at their fastest pace since 2020. Consumer confidence remained shaky, with fears of unemployment dampening spending. However, retail sales surprised positively, driven by health and beauty trends. Gross Domestic Product (“GDP”) data showed unexpected growth of 0.1% in the fourth quarter, defying recession expectations, while housing activity stalled. Despite economic uncertainty, chief executives remained optimistic about business prospects...Stocks featured:British American Tobacco, Coca-Cola HBC and UnileverTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week the Bank of England (“BoE”) cut interest rates by 0.25%, with Governor Andrew Bailey urging caution over the split vote. Markets are still priced in for two more cuts this year, despite inflation forecasts remaining above target until 2027. The UK manufacturing sector contracted for the fourth month, with rising input costs squeezing small firms. Meanwhile, the services Purchasing Managers' Index (“PMI”) edged down, with job cuts accelerating. Grocery inflation slowed, but supermarkets warned of rising costs due to tax and wage increases. Budget retailers struggled, highlighting pressures on low-income consumers...Stocks featured:BBGI Global Infrastructure, WAG Payment Solutions and Wizz Air To find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England (“BoE”) faces a tough policy decision ahead of its 6th February meeting, as economic pressures mount. Business activity has slumped to its weakest since the Covid-19 pandemic, with firms cutting jobs and raising prices in response to tax hikes. Consumer spending remained fragile, and corporate profit warnings are at a post-dot-com high. Market expectations point to an 80% chance of a 0.25% rate cut to 4.50%, though inflation risks may limit further easing. Employers have tightened wage growth, and firms have depleted pandemic-era cash reserves. While shop price deflation continues, food prices have risen at their fastest rate in nine months. Morgan Stanley has slashed the UK's growth outlook to 0.9% for 2025, citing weak business confidence. Despite a slight improvement in employer sentiment, overall business confidence has dropped to a 13-month low...Stocks featured:Airtel Africa, Glencore and St. James's PlaceTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy is grappling with significant challenges as consumer confidence slumped in January, which was reflected in weak survey data from the British Retail Consortium. Industrial sentiment is at a two-year low, with output volumes falling at their steepest rate in four years, signalling more contraction ahead. Bloomberg warned of more frequent recessions due to weak growth potential, while stagnant wages since 2008 compounded economic pressures. The labour market is softening, with rising unemployment and declining vacancies, although wage growth remains high, adding to inflationary risks. Despite these headwinds, the Guardian reported that the UK remains the second most attractive country for investment, indicating long-term resilience. The Purchasing Managers' Index (“PMI”) data shows a slight improvement in activity, led by the services sector, but new work continues to decline...Stocks featured:Associated British Foods, Games Workshop and Intermediate Capital GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy faced mixed signals this week as inflation slowed unexpectedly in December, dropping to 2.5%, the lowest since early 2021, driven by lower energy and food costs. This has heightened expectations for Bank of England (“BoE”) rate cuts, with the market pricing in three reductions this year. However, core inflation remained stable, and economic growth is stagnating, raising concerns about stagflation. Business confidence plunged to a two-year low amid higher taxes and weak demand, while large firms plan hiring cuts and scaled-back investments following the Chancellor's £25 billion social security charge hike. UK trade growth prospects remain subdued, with Boston Consulting Group projecting just 0.7% annual growth until 2033, hindered by Brexit and global supply chain shifts. Retailers, facing rising taxes and wages, are hiking prices, adding to consumer pressures...Stocks featured:Genus, JD Sports and Trustpilot GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy faced significant headwinds in 2024, marked by stagnation and subdued growth. December's Purchasing Managers' Index (“PMI”) data revealed the weakest private sector performance since October 2023, with composite PMI at 50.4 and a sharp decline in new orders. Rising payroll costs and declining demand drove the steepest fall in employment since January 2021, while business confidence fell to a two-year low following tax increases in the Autumn Budget. Although KPMG raised its 2025 Gross Domestic Product (“GDP”) forecast to 1.7% due to expansionary fiscal policy, 2024 growth remained modest at 0.7%, with inflation averaging persistently high levels. Despite signals of gradual rate cuts from the Bank of England, bond market volatility added uncertainty to the outlook.Stocks featured:Clarksons, Greggs and Just GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England ("BoE") is expected to maintain a cautious approach to rate cuts in the coming months, with a Reuters survey showing a 10% chance of one happening this week. Investors also predict three rate reductions in 2025, totalling 0.75%, so a more measured path than the European Central Bank's ("ECB") anticipated 1.5%. However, the BoE faces challenges from sticky inflation and elevated neutral rate estimates, with policymakers signalling a lower bound near 3.5%. Meanwhile, UK economic indicators painted a mixed picture last week. GDP contracted by 0.1% in October, job vacancies sharply declined and insolvencies are rising amid cost pressures. Consumer confidence remains weak despite slight improvements. Public inflation expectations have also edged higher, complicating the BoE's policy outlook. With businesses cautious about growth and labour shortages hindering productivity, the UK economy could close 2024 in contraction, highlighting the fragile state of the recovery.Stocks featured:Currys, Raspberry Pi and SThreeTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy is grappling with challenges as business confidence falters and retail sales dip. The Lloyds Bank business barometer fell to a five-month low of 41%, highlighting economic uncertainty, though firms remain optimistic about their trading prospects. Surveys from the Confederation of British Industry and the Institute of Directors indicate shrinking private sector activity and the lowest business confidence since April 2020. Elevated borrowing costs and higher employment taxes are straining businesses, dampening hiring and investment. Despite these difficulties, the Organisation for Economic Co-operation and Development (“OECD”) forecasts stronger growth by 2025, driven by public spending, though inflation is expected to stay above target.Stocks featured:Frasers Group, International Consolidated Airlines Group and Legal & General GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week, key economic updates highlighted mixed signals for the UK. Bank of England (“BoE”) Deputy Governor Clare Lombardelli expressed caution over wage growth trends, warning that a slowdown in wage disinflation might necessitate careful rate cut strategies. BoE official Swati Dhingra noted the UK is no longer an inflation outlier but stressed the difficulty of accurate inflation forecasting due to unreliable data. The Confederation of British Industry (“CBI”) painted a sombre picture, with surveys showing weakening sentiment in the retail and services sectors. Job cuts loom as firms grapple with tax hikes, while higher wages ahead of the holidays offer a short-term boost in hiring for sectors such as retail and hospitality. Consumer confidence waned slightly after the budget, reflecting concerns over economic stability. Despite reassurances about the financial system's resilience, the BoE's financial stability report flagged heightened global risks, including geopolitical tensions and government debt vulnerabilities. This backdrop underscores challenges ahead for growth and inflation.Stocks featured:JD Sports, Kingfisher and Melrose IndustriesTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week, the Bank of England (“BoE”) emphasised the labour market's critical role in shaping monetary policy. Policymakers stressed the importance of early 2024 labour market data amidst uncertainty of the budget's potential impacts on wages and employment. Inflation rose in October, with headline Consumer Price Index (“CPI”) at 2.3% and core inflation at 3.3%, driven by higher energy costs. Meanwhile, rental inflation rebounded, and retail sales slumped amid budget concerns. Flash Purchasing Managers' Index (“PMI”) indicated the first contraction in output since 2023, as cost pressures and weak business optimism weighed. Consumer confidence dipped slightly in November, reflecting ongoing concerns about economic prospects despite resilient pay growth and employment levels.Stocks featured:CMC Markets, Games Workshop and Ithaca EnergyTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week, UK economic data pointed to continued challenges and mixed signals. Third quarter gross domestic product (“GDP”) growth was disappointing, expanding by only 0.1% versus 0.2% expected, with September's monthly GDP contracting at 0.1% as production weakened. The Bank of England's (“BoE”) Chief Economist Huw Pill warned that global shocks could derail the UK's disinflation process. Inflation remained sticky, particularly in services, and wage growth remained robust, complicating inflation targets. Grocery inflation edged higher, reflecting pressure on household finances, while public sector pay rises are now expected to outpace private sector pay. Furthermore, business confidence hit a 12-month low, driven by concerns over manufacturing and services outlooks, highlighting the significant economic headwinds the UK is facing.Stocks featured:Burberry Group, John Wood Group and Keller GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Due to geopolitical uncertainties and a cautious market response to changes in fiscal policy, UK economic indicators were mixed. Growth slowed in the services sector, with the Purchasing Managers' Index (“PMI”) hitting 52.0, reflecting hesitation from the Autumn Budget and geopolitical influences. Inflation data showed some improvement, especially in goods prices, providing a case for the Bank of England (“BoE”) to consider reducing policy restrictions. Meanwhile, the Monetary Policy Committee (“MPC”) voted towards a BoE rate cut to 4.75% to support confidence. The BoE downplayed the impact of an expansionary fiscal policy, but hinted that budget decisions might lengthen the rate cycle.Stocks featured:John Wood Group, TP ICAP Group and Wizz AirTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy showed mixed signals last week, with key developments impacting market expectations. The budget delivered by Rachel Reeves, which included a £70 billion spending boost, led to predictions of a shallower rate-cutting cycle by the Bank of England (“BoE”). A Reuters poll indicated economists largely expect a cautious BoE approach, with rates potentially reaching 3.5% by the end of 2025. Job vacancies in London continued to lag, sitting 25% below pre-pandemic levels, partly due to the rise in hybrid work and lower demand for retail roles. Shop prices declined by 0.8% year-on-year, hinting that inflation could stay below the BoE's 2% target. Meanwhile, full-time pay rose 6.9% annually, with the strongest gains in hospitality and customer service roles. The UK manufacturing Purchasing Managers' Index (“PMI”) slipped to a contractionary 49.9, reflecting slower growth and stretched supply chains.Labour's first budget in fourteen years focused on increasing public spending to address deficiencies in Britain's public services, with measures like a £40 billion tax rise, mainly targeting businesses through increased employer national insurance contributions. Despite International Monetary Fund (“IMF”) backing for the Labour government's tax-based deficit reduction approach, the budget sparked market concerns, with gilts and sterling selling off. The Office for Budget Responsibility (“OBR”) projected little change in long-term growth, at around 1.5%. Moody's also warned that frequent adjustments to the UK's fiscal rules could weaken policy credibility, highlighting limited fiscal buffers for future shocks. With state spending now at 44% of gross domestic product (“GDP”), Reeves faces pressure to balance economic stability and potential future tax hikes if growth remains stagnant...Stocks featured:Close Brothers Group, Kainos Group and Molten VenturesTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The construction and infrastructure services company Morgan Sindall Group saw a share price rise of 14.91% last week following a strong trading update. The update highlighted better-than-anticipated performance, prompting analysts to increase earnings per share (“EPS”) forecasts for 2024 and 2025 by 7%. The company's Fit Out division showed robust growth, with an order book worth £1.3 billion, up 15% from the end of 2023. Additionally, the Partnership Housing division is expected to deliver slightly higher profits. Analysts noted Morgan Sindall's strong management track record and lower one-off costs compared to peers, emphasising the company's good value proposition.Bloomsbury Publishing, publisher of books and reference databases, saw its shares jump 12.54% last week after the company reported stronger-than-expected trading performance for fiscal 2025. The publisher, known for the Harry Potter series, announced that profit attributable to owners rose to £16.6 million in the first half of fiscal 2025, up from £11.2 million a year earlier, with revenue increasing to £179.8 million from £136.7 million. EPS improved significantly, and the board proposed an increased interim dividend. Bloomsbury expects full-year results to exceed the market consensus of £319.3 million in revenue and £37.5 million in profit, boosting investor confidence...Stocks featured:Morgan Sindall Group, Bloomsbury Publishing and Close Brothers GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week's UK economic data painted a mixed picture ahead of the Bank of England's (“BoE”) November policy meeting. Inflation has dropped below the 2% target for the first time since 2021, reaching 1.7%, driven by lower energy costs and eased supply chain pressures. Meanwhile, a notable minimum wage hike has underpinned pay growth for low-wage workers, despite broader wage growth moderation. As the labour market is easing, economists increasingly expect a BoE interest rate cut, with markets pricing in a 90% chance of two 0.25% reductions by year-end. Retail sales defied expectations, rising 0.3% in September, driven by strong demand in electronics. While the BoE previously signalled potential rate cuts contingent on inflation trends, the cooling data has solidified expectations of a dovish policy shift in the coming weeks.The upcoming 30th October UK budget is shaping up to be a pivotal moment, as Rachel Reeves navigates a challenging fiscal landscape with a £22 billion fiscal deficit. To address this deficit, proposals include raising employer national insurance contributions and increasing capital gains taxes on share sales, which could generate significant revenue. However, the proposals have faced pushback from business leaders and investors, with concerns over potential job losses and investment impacts being raised. The recent inflation decline below 2% has reinforced expectations for BoE rate cuts, potentially easing pressure on fiscal policy but also reducing tax revenue from inflation-related income. Meanwhile, the International Monetary Fund warned the UK of potential market backlash if debt stabilisation efforts fell short, adding urgency to Reeves' fiscal plans...Stocks featured:Future, St. James's Place and XPS Pensions GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economy returned to growth, expanding by 0.2% after two months of stagnation, according to reports from The Times, Reuters and Bloomberg. This growth was driven by strong rebounds in manufacturing and construction, despite weaker-than-expected growth in the services sector. Retail sales showed resilience, rising 2% in September, the fastest in six months, as retailers geared up for the Christmas season. However, concerns remain as the British Chambers of Commerce reported declining business confidence, driven by fears of tax hikes in the Labour government's upcoming autumn budget and geopolitical uncertainties. Meanwhile, Kantar data highlighted renewed pressure on consumer budgets, while prices fell for household and pet products. The economic outlook remains mixed as businesses and consumers navigate these challenges.Stocks featured:Carnival Group, Greencore Group and Senior GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Lloyds' Business Barometer indicated a dip in UK business confidence in September, the lowest level in three months. The data suggests businesses are cautious about the broader economic outlook but still expect strong trading, highlighting concerns over inflation, investment, and potential fiscal policy changes ahead of the upcoming budget. Bank of England ("BoE") Chief Economist, Huw Pill, struck a cautious tone on the rate outlook, warning against cutting interest rates too quickly or too far. He stressed the need for a gradual withdrawal of monetary policy restriction, citing concerns over wage data and services price inflation. In contrast, Governor Andrew Bailey suggested that the BoE could cut rates more aggressively if inflation data continues to improve, leading economists to predict rate cuts at every meeting until May 2025....Stocks featured:BAE Systems, BP and JD Sports FashionTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week saw the Bank of England (“BoE”) maintain a cautious tone on the future trajectory of interest rates. Governor Andrew Bailey noted that while inflation has made significant progress toward the BoE's 2% target, a gradual approach to interest rate cuts is necessary to ensure sustainable price stability. His comments come after the BoE decided to keep rates unchanged last week, following a 0.25% cut in August. Expectations are now centred around a neutral rate of 3% to 3.5%, with Bailey indicating that near-zero rates are unlikely to reoccur barring a significant economic downturn.Stocks featured:Card Factory, Accesso Technology Group and HalmaTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England ("BoE") has left policy unchanged in the short term. Still, it may accelerate rate cuts in the final quarter of 2024 with weakening economic momentum, cracks in the labour market, and softening manufacturing outputs signalling a need for further easing. However, persistent inflationary pressures, especially in core and services prices, keep policymakers cautious. Market expectations of rate cuts are rising, with economists predicting the bank rate could fall as low as 3% next year. BoE's Catherine Mann remains cautious on a rapid rate cut cycle though, advocating for maintaining restrictive policy to curb inflationary behaviour. Meanwhile, fiscal concerns grow as the BoE's quantitative tightening programme will cost the UK Treasury billions. Despite these challenges, hiring across more sectors has picked up, reflecting some resilience in the economy...Stocks featured:Bytes Technology Group, Close Brothers Group and Wizz AirTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England (“BoE”) is texpected to hold interest rates at 5.00%his week, with economists forecasting further rate cuts in its November and December meeting, potentially bringing the year-end rate to 4.50%. Attention is also on the BoE's quantitative tightening plans, as there are growing calls to increase the sale of short-dated gilts to boost market liquidity. Investors are watching whether the BoE will accelerate bond runoff next year, in response to a sharp rise in maturing bonds.Stocks featured:Kier Group, Renishaw and TrainlineTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Recent data from Reed Recruitment shows UK wage growth is no longer declining and is now stabilising, which may pose a challenge to the Bank of England (“BoE”) and Prime Minister Keir Starmer. As sectors like construction and hospitality face skill shortages, rising wages could force a rethink on easing policies. Despite this, analysts remain optimistic about the economic outlook, citing strong balance sheets, a rebound in business investment and stabilising inflation. A BoE survey also indicated that companies expect price increases to slow, even as wage growth holds steady at 4.1%, which has been unchanged since July. Business uncertainty has decreased post-election, and investors are anticipating a potential BoE interest rate cut in November, though further cuts may not come soon...Stocks featured:Ashtead Technology, Genus and Kainos GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Summary:The UK experienced a combination of positive and negative economic indicators. The government faces the difficult task of balancing the budget, which could lead to tax increases and spending cuts. Various factors, including financial data, political developments, and corporate earnings impacted global markets. US equities experienced a mixed performance, while oil prices fluctuated. The UK housing market is showing signs of recovery, with increased listings, buyer demand and mortgage approvals...Stocks featured:Bunzl, EasyJet and JD SportsTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Summary:Last week UK stocks remained relatively flat, with the FTSE 100 index closing 0.3% lower. Sterling rose above $1.32, representing its highest level in over a year against the dollar. This increase was driven by rising expectations of an interest rate cut by the Federal Reserve ("Fed") next month. However, a stronger sterling added pressure to the FTSE 100, as many companies within the index generate a significant portion of their revenue globally...Stocks featured:JD Sports Fashion, Melrose Industries and RightmoveTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The UK economic landscape is currently marked by mixed signals, particularly regarding inflation and labour market dynamics. The Bank of England's (“BoE”) more hawkish member, Catherine Mann, remains sceptical about the disinflation process, highlighting persistent wage pressures that could take years to subside. Despite recent inflation data showing a slight dip, with July's rate coming in at 2.2%, lower than expected, and a softening in services prices, Mann's concerns echo broader caution within the BoE. Market expectations have echoed the recent cooling of wage growth and inflation, which now fully price in two BoE rate cuts by year-end, although the timing of these cuts remains debated.Stocks featured:Just Group, Playtech and Crest NicholsonTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/ Hosted on Acast. See acast.com/privacy for more information.

Last week saw various economic developments, including the National Institute of Economic and Social Research (“NIESR”) publishing its forecast, predicting a slower interest rate cut cycle by the Bank of England than the market expects. NIESR anticipates that economic recovery will accelerate, prompting the BoE to maintain higher interest rates for a longer period. The Bank of England's interest rate is expected to decrease gradually, reaching 4.6% in 2025 and 4.1% in 2026, before bottoming out at 3.1% in 2028. Additionally, economists are divided on the BoE's next rate cut, with mixed views on the timing and size of potential easing, though domestic inflationary pressures seem to be receding.Stocks featured:Beazley, Hikma Pharmaceuticals and Spirax GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/ Hosted on Acast. See acast.com/privacy for more information.

The Bank of England ("BoE") recently made its first rate cut in over four years, stirring cautious optimism about the UK's economic future. Although BoE Chief Economist Huw Pill acknowledged an improved outlook, he noted the growth rate remains modest at around 1% annually from 2024 to 2026. The narrow 5-4 vote for the rate cut underscores persistent inflation risks. Surveys show a slight decline in firms' expectations for wage growth and inflation. The BoE's survey revealed expected wage growth fell to 4.1% and the one-year-ahead consumer price index dropped to 2.5%. Similarly, the Citi/YouGov survey showed stability in one-year inflation outlooks and a minor rise in long-term expectations, reflecting the BoE's increased confidence in disinflation.Stocks featured:Melrose Industries, Haleon and EntainTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/ Hosted on Acast. See acast.com/privacy for more information.

A Reuters poll showed most economists are expecting a Bank of England ("BoE") interest rate cut, with mixed UK data causing some to push expectations from August to September. The absence of comments from BoE Governor, Andrew Bailey, due to the election, has deprived the market of crucial signals. Despite a two-month high in the UK's purchasing managers index ("PMI"), driven by new business growth, uncertainty remains over the BoE's decision, with market odds of a rate cut at approximately 40%. Former BoE Monetary Policy Committee member Sushil Wadhwani suggested Labour should allow the BoE to set its inflation target to boost credibility and reduce borrowing costs. Ernst & Young has upgraded its UK economic outlook, predicting 1.1% gross domestic product ("GDP") growth in 2024 and stable inflation near the BoE's 2% target. However, the International Monetary Fund warned that higher growth is needed to avoid a fiscal gap.Stocks featured:NatWest, Compass Group and FresnilloTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

On Friday, a global IT outage linked to issues with a CrowdStrike cybersecurity update affecting Microsoft software disrupted businesses and services worldwide. In the UK, train companies, major airlines, airports and GP surgeries experienced significant disruptions, with Edinburgh and Birmingham airports particularly affected. Financial sectors were hit as major oil and gas trading desks in London and Singapore faced outages, and the London Stock Exchange Group's Workspace platform experienced service interruptions. Even media outlets were impacted, with Sky News temporarily going “off-air”...Stocks featured:Burberry, Dunelm Group and Ocado GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The latest UK gross domestic product (“GDP”) estimate showed a 0.4% expansion in May, surpassing expectations due to growth in industrial production, services and construction. Over the past three months, GDP grew by 0.9%, the strongest since January 2022, with services contributing significantly. This aligns with purchasing managers index data, highlighting the services sector's role in the economic recovery...Stocks featured:Jet2, Liontrust Asset Management and HuntingTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Recent updates indicate an optimistic shift in the UK economy. KPMG has revised its gross domestic product growth forecast for 2024 from 0.3% to 0.5% and projects 0.9% growth for 2025. This is supported by anticipated Bank of England (“BoE”) rate cuts, potentially reducing the bank rate to 3% next year. This economic boost is further aided by political certainty due to expected fiscal policy changes under a Labour government...Stocks featured:Ibstock, JD Sports Fashion and OcadoTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Last week, the UK's economic landscape presented a nuanced view. The Office for National Statistics revised first quarter gross domestic product ("GDP") growth up to 0.7%. Growth was driven by robust expansions in services and production, despite the construction sector experiencing a decline. Despite a 0.7% positive uptick in real household disposable income, April's GDP showed no growth for the month. The June Purchasing Managers Index fell to a seven-month low, indicating a quarterly growth rate of just 0.1%, suggesting cautious economic momentum.Stocks featured:DS Smith, Currys and Moonpig GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

UK inflation continued to ease in May, with the headline rate at 2.0% year-on-year, down from 2.3% in the 12 months to April, marking the lowest rate since July 2021. Core inflation was 3.5%, while services prices remained high at 5.7%. The largest downward pressure came from food prices, while motor fuels and transport costs drove inflation up. The Bank of England (“BOE”) held interest rates at 5.25%, emphasising the need for restrictive monetary policy to control inflation. Market expectations for an August rate cut increased to more than a 50% chance after the news, up from 30%. By year-end, 0.50% of rate cuts are now priced in. Economists are divided on whether the BOE will reduce rates in August or later, with some expecting a delayed cut followed by faster easing. Tight fiscal policy under a new government could lead to a more rapid easing cycle next year. The biggest risk to early BOE easing is a stronger economy with rising price pressures and wages. The BOE forecasts headline inflation to rise above target from the autumn and will use updated macroeconomic projections at its next meeting...Stocks featured:Games Workshop, Ocado Group and Phoenix Holdings GroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

UK unemployment grew and wage growth stabilised last week after UK labour market data presented a mixed economic outlook. The May unemployment claimant count increased by 50,400, increasing the unemployment rate to 4.4%. Payrolled workers dropped by 3,000, and vacancies declined by 12,000 to 904,000. Despite these signs of a cooling job market, average weekly earnings remained strong at 5.9%, partly due to an April minimum wage increase. This wage growth complicates the Bank of England's ("BOE") efforts to balance economic cooling with inflation control.Stocks featured:Halma, Molten Ventures and FirstGroupTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

UK inflation expectations continue to ease with the Citi/YouGov inflation tracker for May showing a decline to 3.1%, ahead of expectations and the lowest since July 2021. The Bank of England's ("BOE") Decision Maker Panel survey indicated steady short-term inflation expectations but noted a potential stall in the disinflationary process. Encouragingly, wage growth expectations fell, which could reduce inflationary pressures. The British Chamber of Commerce revised growth forecasts upward, but anticipates inflation to remain above the BOE's target in the medium term. The British Chamber of Commerce also projects modest BOE rate cuts with the key Bank Rate being at 4.75% by the end of 2024. Meanwhile, Purchasing Managers Index data showed the services sector continues to support economic expansion, and the manufacturing sector expanded at its quickest pace in over two years...Stocks featured:B&M European Value Retail, Hollywood Bowl Group and Ninety OneTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

The Bank of England's ("BOE") outgoing Deputy Governor, Ben Broadbent, defended the bank's policy-making process against accusations of groupthink, highlighting robust discussions at meetings. While acknowledging progress on inflation, Broadbent hinted at possible rate cuts ahead of the BOE's next meeting in the coming months. Meanwhile, there has been positive news on the consumer front; the British Retail Consortium reports UK shop price inflation has returned to normal levels, with May seeing the lowest annual shop prices since late 2021. This decline, likely due to subdued consumer demand, coincides with the fastest growth in UK retail sales since December 2022, as reported by the Confederation of British Industry Distributive Trade Survey, suggesting rising consumer confidence.Stocks featured:Auto Trader, Pets at Home Group and Wizz Air HoldingsTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

UK inflation eased sharply in April to 2.3% year-on-year, surpassing market consensus and Bank of England (“BOE”) forecasts of 2.1%, marking the lowest rate since summer 2021. While gas and electricity prices declined, motor fuel prices increased, slightly offsetting the downward pressure. However, core inflation remained sticky, recording a 3.9% figure against a consensus of 3.6%. The key services measure, closely monitored by the BOE for second-round effects, eased slightly to 5.9% from 6.0%, still above the 5.5% consensus.Stocks featured:National Grid, RS Group and Marks and SpencerTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.