The average UK house price hit a record high of £270,027 in October, according to an index. The average property value grew by 0.9 percent in October—showing an increase of more than £2,500 during the month, Halifax said. Annual house price inflation accelerated to 8.1%, from 7.4 percent in September. Halifax said it is the…
Oil Prices Rise Ahead of OPEC+ Meeting
LONDON—Oil prices rose on Thursday, lifted by expectations that OPEC and its allies will stick to slow output increases despite calls from the United States and large importers for additional supply to cool prices. Brent crude was up 94 cents, or 1.2 percent, at $82.93 a barrel by 0940 GMT and U.S. West Texas Intermediate…
Meta Platforms Shares Rise as Facebook Rebrands to Focus on Metaverse
Shares of Meta Platforms Inc. rose marginally in premarket trading on Friday after social media giant Facebook rebranded itself to build the “metaverse”, a shared virtual environment. Chief Executive Officer Mark Zuckerberg said on Thursday the new name reflects the company’s work invested in the metaverse, rather than its namesake social media service, which will…
Oil Drops 1 Percent as US Stockpile Rise Saps Rally
LONDON—Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent oil futures fell $1.13 cents, or 1.3 percent, to $85.27 a barrel by 0902 GMT after closing at the highest in seven…
Inflation Outlook Key for Timing of Polish Interest Rate Rise: Central Banker Says
WARSAW—Poland’s November inflation projection may be crucial for the country’s central bank in deciding whether interest rates rise again this year, Eryk Lon, one of the most dovish members of the Monetary Policy Council (MPC), said. In an unexpected move, the bank raised its benchmark interest rate in October by 40 basis points to 0.5…
Futures Rise as Upbeat Earnings Boost Risk Appetite
U.S. stock index futures rose on Tuesday as an upbeat profit forecast from Johnson & Johnson added to the positive momentum in corporate earnings generated by big banks last week. Johnson & Johnson’s shares rose 1.7 percent after it raised its 2021 adjusted profit forecast, even as it stuck to its outlook of $2.5 billion…
Wall Street Rises as Earnings Whip Up Risk Appetite
U.S. stock indexes rose on Tuesday as upbeat results from Johnson & Johnson and Travelers fired up risk appetite, after big banks kicked off the third-quarter reporting period on a positive note last week. The benchmark S&P 500 index is now less than 1 percent away from a record high hit in early September, with…
Wall Street Ends Up With Goldman; Dow Posts Biggest Weekly Rise Since June
NEW YORK—U.S. stocks rose on Friday and the Dow scored its biggest weekly percentage gain since June, as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks. Goldman Sachs Group shares jumped 3.8 percent and gave the Dow its biggest boost, as a record wave of dealmaking activity drove a…
S&P 500, Nasdaq Rise With Growth Stocks; JPMorgan a Drag
NEW YORK—The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market. The S&P 500 briefly added to gains following the release of minutes from the September Federal Reserve policy…
More Pain for British Consumers as Grocery Prices Rise
LONDON—British grocery prices increased 1.7 percent in the four weeks to Oct. 3 year-on-year, market researcher Kantar said on Tuesday, adding to pressure on households already facing soaring energy bills. With inflationary pressures mounting in the British economy, one Bank of England policymaker on Saturday told households to get ready for early interest rate rises….
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