Continuous policy of the latest economic and monetary developments
And Reuters takes:
The resurgence of the coronavirus pandemic has caused a steeper drop in new orders for British plants this month, according to a survey on Thursday.
The monthly balance of the British Industry Confederation’s production portfolio fell to -40 from the maximum of seven months in October to -34, despite the most productive reading of production since September 2019.
CBI’s Industrial Trends Report also shows that order books in UK factories have been weaker than all year round:
Meet Anna Leach, CBI’s Deputy Chief Economist, about the decline in order book in November.
Production volumes decreased at their slowest speed by more than a year in our November survey. But order portfolios went backwards as the global call to strike through intensified blockades and brands lowered their expectations. “
“The key to stabilizing the business situations of production corporations will be the pandemic through increased investment in mass testing, ensuring a transparent testing and traceability formula and effective vaccine deployment. “
– to clarify, not October as the previous Message Array said. .
Tom Crotty, organisation director of the chemical company INEOS, says the drop in orders from factories in the UK shows that brands face a very difficult period:
“These effects show what we already know: that brands across the country continue to face very difficult cases as we enter the winter.
“For the future, brands have a very important role to play in working with the government to build their green business revolution, productivity and regions. Government aid for the sector has therefore been, and will continue to be, a necessity to enable companies to weather the crisis.
Newcomer: British brands have been affected by a drop in orders, as pandemic hits require products.
CBI’s latest aptitude in the UK industry revealed that the ‘line of activity’, adding production expectations and order books, weakened this month ‘amid a momentary wave of COVID-19 both at home and abroad. ‘
New orders fell faster in November and are well below average, according to the CBI Industrial Trends Survey, which surveyed 277 manufacturers.
It is worrying that corporations have also predicted that production will decline at a faster rate over the next 3 months. This is a darker vision than a month ago, and brands also forecast a drop in production costs over the next 3 months.
Here are the details:
[Explanation: percentages are “net balances”: the difference between the percentage of companies reporting on a construction and those reporting a decrease]
The pandemic has left one in seven British corporations in fear that it may not last until next spring, according to new research, with hotel corporations concerned.
The Office of National Statistics reported that 14% of UK companies said they had little or no confidence in their survival over the next 3 months.
This rises to one in three businesses in the dining or accommodation sector, such as pubs, places to eat and hotels.
This is an alarming sign of economic damage through the Covid-19 case wave.
The ONS explains:
In all sectors, of companies that did not definitively stop their operations, 40% had moderate confidence that their company would do so in the next 3 months and 14% had little or no confidence in the same. Confidence.
The accommodation and catering industry had the highest percentage of companies that had little or no confidence in the survival of their business over the next 3 months, at 34%. Then comes the administrative and facilities industry, with 18%.
The ONS also reports that almost one in ten are still on leave, with more than a quarter fleeing home:
European stock markets are in red numbers.
The FTSE hundred has dropped by about 1%, or 63 points, to 6321. La aerospace engineering company Melrose (-5%) and jet engine manufacturer Rolls-Royce (-3%) they joined the most productive bassist, indicating anxiety about the pandemic, along with oil corporations and real estate corporations.
Chemical company Johnson Matthey has also fallen by about 5%, after recording an 88% drop in earnings before tax (partly due to weak demand for automotive catalysts for the pandemic).
France’s CAC index was down 0. 85% and Germany’s DAX was down 1%, as the spirit of no risk continued.
AJ Bell’s chief investment director Russ Mold says pandemic considerations are being developed in the US. But it’s not the first time
“The report on the AstraZeneca vaccine and oxford university is less likely to move the dial because, unlike other primary vaccine updates so far, there were no major points about its effectiveness.
“And while the outlook for the time being 2021 seems more encouraging thanks to scientific advances, the here and now fits complicated with New York by pronouncing more complicated restrictions amid an outbreak of Covid-19 cases across the United States.
“While Donald Trump continues to stubbornly ask to yield to long-awaited presidential winner Joe Biden, it turns out that little is being done at the federal point to deal with the pandemic wave in the United States.
“Brexit uncertainty continues to buzz in the background as a low-level headache and oil costs are returning some of its recent earnings ahead of an OPEC crisis assembly earlier this month. We may be in a few difficult weeks. “
The euro area structure sector has once receded, with the Covid-19 wave hitting the European economy.
Construction production at the euro level fell by 2. 9% in September with August, according to new Eurostat figures.
This left structure resulted in a 2. 5% decrease a year ago in the euro and a 2. 7% decrease in the EU as a whole.
Eurostat reports that France and Italy suffered the largest monthly decline, with either of the two countries affected by a build-up of infections:
In the euro domain in September 2020, as of August 2020, the structure of the structure fell by 3. 2% and civil engineering 0. 4%. In the EU, the structure of the structure fell by 2. 7% and civil engineering by 0. 8%.
Among the Member States for which knowledge is available, the biggest declines in the production of structures were in France (-8. 4%), Italy (-8. 1%) Slovakia (-3. 0%). The largest increases were seen in Slovenia (2. 6%) , Romania (1. 7%), Bulgaria and Germany (both 1. 5%).
We have some encouraging news on vaccines this morning, but it looks like the markets are increasing.
The most recent effects of Oxford/AstraZeneca trials show that it produces an immune reaction in the elderly and has been better tolerated than in young testers.
The effects can raise hopes that the vaccine can reach the maximum age teams at risk of infection with the virus.
But it is the expected power effects of the final phase of testing, expected in the coming weeks, as Fergus Walsh of the BBC says:
PA has details:
The ChAdOx1 nCov-2019 vaccine has been shown to cause an immune reaction in healthy elderly adults aged 56 to 69 and over 70 years of age.
Knowledge of Phase 2 published in The Lancet recommends that one of the teams most vulnerable to serious illness and covid-19 death may have immunity, according to researchers.
According to the researchers, the trial showed immune responses in the 3 age groups: ages 18 to 55, ages 56 to 69, and 70 years of age or older.
That of 560 healthy adults, totaling 240 over the age of 70, found that the vaccine is more tolerated in the elderly than in young adults.
Naked Wines has contributed to the expansion of parcel deliveries this year.
Sales from the online wine retailer increased by 80% in the six months until the end of September, as the blockade led more people to order alcohol online.
Naked’s active visitor base has increased by 37% in the last 12 months, from 204,000 to 757,000 (these angels pay 20 euros in their account per month, to spend on wine from independent producers).
Faced with this pleasant increase in demand, Naked has doubled the capacity of his garage.
The company has now raised its sales forecast, and CEO Nick Devlin said the online wine market has accelerated this year:
Ultimately, the significant maximum effect of COVID-19 on bare wines is not in these intermediate results, but in the way it has accelerated the expansion of the online wine category and the greater willingness of consumers to try a new and greater way to buy wine.
The pandemic has taken the British Royal Mail to a stage: it now gets more benefits from packages than from letters.
With millions confined to headquarters, demand for home purchases has soared this year, meaning package deliveries now account for 60% of Royal Mail’s revenue, up from 47% before the pandemic, based on its effects in the first half. (six months until September 27).
Royal Mail’s revenue increased by almost 5%, packages increased by 33. 2%, and cards declined by 20. 5%, an example of the pandemic that accelerates existing trends.
Costs have increased, and Royal Mail notes:
“Increased packet volumes and manual classification of much of this additional volume across our network, COVID-19-like prices such as protective equipment and firm personnel, as well as social estating measures, as well as management restructuring prices. “
This resulted in a loss of operations for the company, as my colleague Joanna Partridge explains:
Royal Mail reported an operating loss of 20 million pounds in the first half, with a profit of 61 million pounds at the same time last year, which attributes a cost accumulation. At the before-tax level, the company benefited from 18 million pounds, a minimum of nearly 90% of last year’s 146 million pounds.
Switching to fewer cards and more packages has raised company prices to 95 million pounds, as packages require more manual sorting through workers. The company also faced additional prices of 85 million pounds to do business with the pandemic, adding the acquisition of protective equipment social estating needs and more absences of workers.
Royal Mail said it had spent 147 million pounds on voluntary redundancy prices after declaring in June that it would cut 2,000 jobs, one-fifth of its leadership roles, into a plan to reduce prices accelerated by the coronavirus crisis.
The company’s shares rose by almost 9% this morning, as it also raised its forecast and predicted that Royal Mail would further break the adjusted operating profit if its revenue met expectations.
Lately he’s recruiting about 33,000 more flexible to cover the high Christmas season.
But, the corporate also warns of abundant uncertainty, in the new year:
As package volumes in Royal Mail and GLS have continued since the beginning of the year, the functionality of profit in the situation has improved.
There are still precise signs, but package expansion is expected to continue in the third quarter, with more uncertainty about fourth-quarter trends due to the progression of the COVID-19 pandemic, the new effects of recession, and trends in foreign volumes.
The suricates are on this morning.
The British festival control body struck the Comparethemarket. com value comparison with a fine of 17. 9 million pounds, after considering that the terms of its contracts with housing insurers violated the festival law.
The Competition and Markets Authority stated that the [known for its entertaining advertisements with the meerural Aleksandr and Sergei] had prohibited housing insurers on its platform from providing higher costs at competing sites.
This prevented Compare the Market from being underlisted, resulting in higher insurance premiums for customers, the CMA said.
Michael Grenfell, CMA’s Chief Compliance Officer, warned other virtual markets to illegally limit competition:
Today’s action will have to be a precaution: when we notice that the law has been violated, we will not hesitate to interfere and protect consumers.
The president of the European Central Bank warned EU lawmakers that the Covid-19 business wave is causing damage to the eurozone economy.
After testifying in the European Parliament’s Committee on Economic and Monetary Affairs, Christine Lagarde said the outbreak of infections and the new restrictions were a major challenge for the euro and the world economy.
In general, the euro dominance economy is expected to be seriously affected by the consequences of immediate infection accumulation and the restoration of containment measures, posing a clear threat of deterioration in the short-term economic outlook.
Faced with this economic blow, he also suggested that European politicians put an end to the damaging dispute over their new budget of 1. 8 billion euros (1. 6 billion pounds) that exploded this week when Hungary and Poland vetated it.
Fiscal policy (public spending) has a role to play in supporting the call in the short and medium term, confidence in construction and improving the prospects for expansion of our economies, Lagarde insists:
Public investment and reforms, especially in demanding medium- and long-term situations such as environmental sustainability and digitization, can bridge the gap to a successful and inclusive recovery . . .
For these two reasons, the “Next Generation EU” package should be operational without delay.
Additional resources in the package can facilitate expansiono fiscal policies in euro-domain countries with limited fiscal space.
Lagarde also notes that the pandemic has caused specific damage to the services sector, as it is “specifically vulnerable” to voluntary and mandatory social estating measures implemented. Countries are most dependent on tourism and were the most affected.
Lagarde warns that consumers will remain very cautious and that companies will be reluctant to invest again until there is more certainty about vaccine deployment.
So far, government measures, namely partial unemployment programmes, have protected families from loss of work and falling incomes, but that has not prevented unemployment from so far in some countries.
In addition, consumers remain very cautious in today’s uncertain environment, as the ramifications of the pandemic threaten people’s employment and income source prospects.
All European stock markets fell at the start of the consultation, about 0. 75%, after the Wall Street liquidation last night.
Obviously, this is a key decision, but it shows that concern has an advantage over hope this morning.
Energy stocks are the worst-acting sector of the Stoxx 600, followed by banks, real estate and mining, a sign that investors are nervous about the prospects for expansion.
The resolve to close New York schools and return to a distance has shaken markets, said Stephen Innes, a leading strata behind global markets in axi.
Fears of the blockade have re-ignited once New York’s seven-day moving average of positivity reached the 3% protection threshold that triggers the closure of the school formula.
Here’s Mayor Bill de Blasio’s announcement:
The hopes of a vaccine have supported the market for the two weeks after Array . . . but Innes fears that the crisis will continue to worsen, especially after American families have accumulated for Thanksgiving:
Investors fear the economic damage already done and what will be done while the vaccine is expected to be deployed . . .
While the vaccine provides bright green lighting fixtures at the end of the tunnel, the tunnel is more cavernous and longer.
However, if you are not involved in the emergence of the post-Thanksgiving virus, you will be; I’m not a fitness professional, however, statistically, this third wave of the United States would possibly get worse.
Anxiety about Covid-19 drove the decline in the UK’s 100th FTSE index at the start of the negotiation.
The top-notch index dropped points, or 0. 75%, to 6,337 points.
The most pandemic-sensitive companies are among the bearish, with the oil giants BP (-2. 4%) and Royal Dutch Shell (-2. 2%). Real estate developers Land Security and British Land have dropped by 2. 3%.
Banks also fell, Barclays and NatWest fell about 2%, while miners also fell.
The 100th FTSE reached its highest point since June on Monday, after Minerva announced her vaccine with an ERA of almost 95%, but has since fallen.
Hello and welcome to our ongoing policy of the global economy, money markets, the euro and businesses.
Today, there is a sense of threat in the markets, as the developing Covid-19 pandemic overcomes optimism that successful vaccine deployment will help the global economy by 2021.
Wall Street suffered an overdue crash last night, with the Dow Jones trading average falling by more than 1%, 344 emissions to 29,438.
And European stocks have also opened down, with investors concerned about the difficulty of the coming months. The Stoxx 600, which tracks stocks across Europe, has fallen by 0. 8% at the start of the negotiation, in what can be a nervous session.
The pandemic continues to worsen in the United States; Overnight, Johns Hopkins University reported that more than 250,000 Americans have died of Covid-19, a dark level in the crisis.
The total number of infections in the United States now exceeds 11 million, with more than 76,000 people hospitalized with Covid nationwide.
And in New York, schools will have to temporarily close after infection rates reach their peak since spring.
He reminded the markets that we are facing months of increased mortality and economic disruption, which will cause more companies to collapse and others will lose their jobs.
Jim Reid of Deutsche Bank explains:
Whether it’s the outlook or the markets, it’s all about vaccines and the virus right now. Risk assets slipped at the end of the US consultation. But it’s not the first time And they closed at a minimum (S
In terms of sectoral movements, all U. S. commercial teams ended up down, with the exception of the automotive sector (1. 14%), while losses were driven by energy (-2. 88%) public (-1. 94%).
But the global scenario is also getting worse: Japan has recorded a record number of new coronavirus infections, adding a new spike in Tokyo as India approaches nine million cases.
European stock markets will fall this morning, after reaching multi-month highs on Monday
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