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Andy Burnham's bid to return to Parliament has left markets on edge, following the resignation of Health Secretary Wes Streeting, who called for a leadership contest. Investor strategist Neil Wilson noted that market reactions will depend on Burnham's success in re-entering Westminster. Gilt yields have spiked amid the leadership turmoil, impacting government borrowing costs. Rachel Reeves emphasized the need for economic stability amidst the political uncertainty.

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iShares Core UK Gilts UCITS ETF

BT Group plc

BAE Systems plc

FTSE 100 Live: Stocks and bond market on alert after Burnham Parliament bid

XSER

CUKX

SMEA

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VEUR

L100

VERX

European bourses rose midday as tech shares rallied and oil stocks gained on tight crude market prospects. The Stoxx Europe 600 Index was up 0.3%, with the Technology Index rising 2% and Oil and Gas Index up 0.9%. In contrast, bank, food, and property stocks lagged. Eurozone industrial production increased 0.2% month-over-month in March, but fell 2.1% year-over-year. The Euro Stoxx 50 volatility index indicated above-average market volatility ahead. Germany's DAX rose 0.7%, while the FTSE 100 remained steady.

Fidelity

Xtrackers STOXX EUROPE 600 OIL & GAS UCITS ETF Capitalisation 1C

iShares Core FTSE 100 UCITS ETF GBP (Acc)

iShares Core MSCI Europe UCITS ETF EUR (Acc)

iShares Core FTSE 100 UCITS ETF GBP (Dist)

iShares EURO STOXX 50 UCITS ETF (Acc) EUR

Vanguard FTSE 100 UCITS ETF

iShares STOXX Europe 50 UCITS ETF

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Ossiam STOXX Europe 600 Equal Weight NR

Lyxor FTSE 100 UCITS ETF

Vanguard FTSE Developed Europe ex UK UCITS ETF

Lyxor MSCI Europe (DR) UCITS ETF

Tech, Oil Shares Lift European Bourses Midday

HUKX

Investinglive

HSBC FTSE 100 UCITS ETF

UK April construction PMI 39.7 vs 45.6 expected

HSBC

BARC

HSBA

RUKL

HSBH

The FTSE 100's Big Five banks reported a combined pre-tax profit of £15.6bn in Q1, surpassing expectations but falling short of last year's figures. Despite higher interest rates boosting income, the sector faces £2.5bn in challenges, including the impact of the Iran conflict and rising inflation. Barclays lowered its growth forecast to 1%, while HSBC and others dealt with significant losses from private credit issues. The banks are preparing for potential economic turbulence ahead, with concerns over souring loans and stagflation.

Barclays

HSBC Holdings Plc

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HSBC Holdings plc ADRhedged

HSBC HOLDINGS

STANCHART

Standard Chartered PLC

NatWest Group Plc

Natwest

Lloyds Banking Group plc

Lloyds Banking

HSBC 5xShortSG241213

NatWest Group Plc Sponsored ADR

FTSE 100 banks are facing £2.5bn of headwinds – HSBC and Barclays are in the firing line

PSRW

UK's service PMI rose to 52.7 in April from March's 50.5, indicating moderate expansion in the service sector. The S&P Global UK PMI Composite Output Index also increased to 52.6, suggesting a recovery in output levels. However, new business intakes remain subdued, with concerns over the Middle East conflict impacting confidence. Tim Moore from S&P Global noted that while there is a modest recovery, it may be short-lived due to ongoing challenges.

- The UK’s service PMI rose to 52.7 in April, indicating moderate expansion in the service sector from March’s 11-month low of 50.5.  
- The seasonally adjusted S&P Global UK PMI Composite Output Index increased to 52.6 from 50.3 in March, reflecting a moderate upturn in overall output.  
- Additionally, the S&P Global UK Manufacturing PMI also improved, reaching 53.7 in April.

Invesco FTSE RAFI All-World 3000 UCITS ETF

S&P Global

UK data shows modest recovery in service sector

House prices in the UK rose unexpectedly in April, with annual growth reaching 3%, up from 2.2% in March, despite concerns over mortgage rates due to the Iran war. The average house price is now £278,880. Nationwide's chief economist noted that household finances remain strong, contributing to this resilience. However, consumer confidence has dropped to a two-year low, and while the Bank of England has held interest rates steady, future hikes may be necessary. Experts warn that economic growth could weaken, impacting future house price growth forecasts.

House prices rise in April as market proves ‘remarkable resilience’

RUKS

FTSE 100 rallies as oil eases and Bank of England holds rates - The FTSE 100 closed up 165.71 points, or 1.6%, at 10,378.82.

RBS Market Access Short FTSE 100 Monthly Index ETF

BetaShares Holdings Pty Ltd.

FTSE 100 rallies as oil eases and Bank of England holds rates

The Bank of England has indicated potential interest rate hikes in the coming months, despite holding rates at 3.75% during a recent meeting. The Monetary Policy Committee warned rates could rise to 5.25% if oil prices exceed $130 per barrel. Inflation is projected to surpass 6%, with growth expected to decline. Governor Andrew Bailey emphasized the need to monitor the economic impact of rising energy prices, while the chief economist suggested that a prompt rate hike could mitigate inflation risks. Unemployment is also projected to rise to 5.45% under various scenarios.

- The Bank of England's Monetary Policy Committee voted 8-1 to maintain interest rates at 3.75%, despite warnings of a potential increase to 5.25% due to rising oil prices.  
- The report predicts inflation could exceed 6%, with policymakers concerned about second-round effects on wages and prices.  
- Governor Andrew Bailey cited the war's impact on inflation and emphasized the need to monitor economic conditions closely, anticipating unemployment could rise to 5.45% even under favorable scenarios.

Bank of England signals interest rate hikes ahead despite April hold

The Bank of England's Monetary Policy Committee is set to announce its interest rate decision today, with expectations leaning towards a hold at 3.75%. Analysts warn that geopolitical tensions and rising inflation, now at 3.3%, could complicate the decision-making process. The meeting will also include revised forecasts and justifications from rate-setters. Market reactions are anticipated, especially following last month's unanimous decision and subsequent rise in short-term gilt yields. Updates will be provided leading up to the announcement at 12pm.

AstraZeneca

AstraZeneca PLC

FTSE 100 Live: Stocks to dip ahead of interest rate decision

SUK2

UK3S

LUK2

The Bank of England created approximately £700 billion during the financial crisis to stimulate the economy, aiming to boost growth, investment, and jobs. However, years later, many are questioning why ordinary households have not experienced the benefits of this substantial monetary injection.

L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF

ETFS 3x Daily Short FTSE 100

L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF

The government gave out £700 billion… so who took it?

iShares PLC - iShares Core FTSE 100 UCITS ETF Accum Hedged USD(ISFD.UK)

FTSE 100 Live: Stocks and bond market on alert after Burnham Parliament bid

Tech, Oil Shares Lift European Bourses Midday

UK April construction PMI 39.7 vs 45.6 expected

FTSE 100 banks are facing £2.5bn of headwinds – HSBC and Barclays are in the firing line

UK data shows modest recovery in service sector