Thank you for joining me. The Halifax house price index reports that average annual house prices have experienced a continuous decline for five consecutive months.
In the year leading up to September, the average cost of a property has dropped by 4.7%, resulting in a typical home being valued at £278,601.
5 things to kickstart your day
1) Treasury in discussions with Bank of England while Metro Bank seeks emergency funds | The challenger lender urgently seeks to raise up to £600m as its share price plummets.
2) Sunak’s net zero changes were a mistake, according to Mark Carney | The former Bank of England governor criticises the Prime Minister’s decision to dilute commitments.
3) Top Hipgnosis executive facing lawsuit over historical allegations of sexual assault and harassment | The lawsuit coincides with a significant drop in the company’s share price.
4) Bank deputy warns that lockdown savings are depleting, indicating an economic slowdown | Households are using up the cash accumulated during the pandemic as higher interest rates take effect.
5) Chauffeurs becoming obsolete as Rolls-Royce owners prefer to drive themselves | The outgoing CEO suggests that younger buyers are causing a profound shift in habits.
What occurred overnight
In cautious trading, most Asian shares recorded gains after a lacklustre end to the trading day on Wall Street, possibly due to concerns regarding the upcoming US jobs market report.
Japan’s benchmark Nikkei 225 fell by 0.3% to 31,129.06. Australia’s S&P/ASX 200 rose by 0.5% to 6,906.96. South Korea’s Kospi had a slight increase of 0.3% to 2,411.74. Hong Kong’s Hang Seng experienced a significant jump of 2.1% to 17,418.95.
Chinese markets were closed on Friday for a holiday and are scheduled to reopen on Monday.
In Hong Kong, property and technology stocks attracted substantial buying, partly recuperating from recent losses. However, shares of troubled property developer China Evergrande dropped by 6.3%.
A comprehensive report on the overall US job market is slated to be released later, and economists anticipate a slowdown in hiring with approximately 163,000 jobs added in September, compared to 187,000 in August.
On Thursday, Wall Street stocks closed lower as pressure from the bond market continued to persist.
The S&P 500 slipped by 0.1% to 4,258.19. The Dow Jones Industrial Average marginally decreased by less than 0.1%, or 9.98 points, to 33,119.57. The Nasdaq Composite dipped by 0.1% or 16.18 points to 13,219.83.
The 10-year yield stood at 4.71%, down from 4.73% late Wednesday.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
