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From cyber hits to copper highs: This week in markets
Manage episode 479769881 series 3640585
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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 & Spencer
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