UK stock market finishes year on a high
The UK stock market is pushing ahead this morning and is now within reaching distance of the 2009 high. This comes at a time when concerns about the UK economy and the US economy have reappeared but at this moment in time very few investors seem to be overly concerned. However, it is worth noting that while the UK is likely to move out of recession in the short term, there is a feeling that the US recovery may be stalling slightly.
Each and every analyst you speak to regarding 2010 will have a very different opinion and a very different forecast for the next 12 months. Much depends upon the initial direction of the UK economy in the early part of 2010 which could dictate the potential pace of recovery in the latter part of 2010. However, the fact that many analysts believe UK base rates will not rise until the final quarter of 2010 is a sober reflection of the difficulties still being experienced within the UK.
As we have mentioned on numerous occasions, those who believe that 2010 will be "a walk in the park" may well have to think again as the momentous changes within the UK economy over the last two years could take up to a decade to filter through.
Share this..
Related stories
Bank cuts base rate by 0.25%
As had been widely anticipated by analysts, the Bank of England today cut the base rate in inflation by 0.25 per cent. The move brings the key lending rate down from 5.5 per cent to 5.25 per cent and is the second such cut in the last three months. The reduction is intended to stimulate the property market, which has recently shown signs of a slowdown, as well as restore consumer confidence and re...
Read MoreLord Myners role within government comes under scrutiny
If Lord Myners thought that his grilling by the Treasury Select Committee was the last of a bad week then he may need to think again. The close relationship between the UK government and an array of banking experts has come under close scrutiny this week with Lord Myners in particular highlighted for his expertise not only in the city but also with regards to tax havens around the world.
Brits gamble with future finance
The majority of British people have no financial plans for the future, with only one in ten having a detailed plan for financing their lives in years to come, a new study has shown.According to National Savings & Investments' Quarterly Savings Survey, 55 per cent of people have no savings plan in place, while a further 32 per cent only have some vague ideas about financing their future or say thei...
Read MoreSavings reach new high
Savings at building societies have reached a new high, according to new figures.The Building Societies Association (BSA) has reported that an increasing number of people are now choosing to save their money after years of spending, resulting in building societies seeing a much greater level of savings.In September this year, building societies reported net receipts of £2,821 million, compared to...
Read More100 per cent mortgages solution for first-time buyers
New buyers taking out mortgages have increasingly chosen to secure loans on the full value of their home in order to get onto the property ladder, new research has shown.Studies by the Mortgage Advice Bureau revealed that almost one in ten mortgagers now opt to borrow the entire value of their property or more.The number of first-time investors selecting a 100 per cent mortgage rose by 21 per cent...
Read More