Global stocks generally rallied as surveys of manufacturing showed that activity in the sector was surging. Joe Biden’s plans for ambitious infrastructure spending also buoyed sentiment.
The FTSE 100 closed the four-day week unchanged.
UK GDP growth was revised up to 1.3% in the fourth quarter of 2020 from an initial estimate of 1.0%.
The final reading of the UK’s IHS Markit/CIPS manufacturing purchasing managers’ index was revised higher to 58.9 in March 2021, from a preliminary estimate of 57.9. This was the highest reading since February 2011.
The UK household saving ratio rose to 16.1% in the final quarter of 2020, close to a record high. The data has increased hopes that the extra cash will help boost economic growth when businesses reopen.
Deliveroo’s high-profile IPO dropped by 25% on its first day of trading, dashing hopes that London will become a hub for fintech IPOs. Investors were put off by the company’s dual-class structure that made it easier for the company’s founder to control the business. In better news, DNA sequencing technology start-up Oxford Nanopore picked London for an initial public offering later this year. It is expected to be valued at between £4bn and £7bn. [READ MORE…]
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Let’s mix up the font and use itals to bring it to life. Property picture if we have one or use iStock.
Strategy Manager, RSA.
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Leading global proptech CEO
After Boris Johnson reiterated this week that international travel is still banned, there is some confusion on when, and if, UK travellers will get abroad this year.
It is clear, however, that the Government roadmap for England offers the possibility for a staycation from 12 April, even though the decision on foreign travel has been delayed until 17 May.
With campsites, caravan parks, rental cottages, and other ‘self-contained accommodation’ set to reopen, many of us will be searching for socially distanced staycations that will allow us to shake off that cabin fever.
However, anyone travelling abroad will be taking a risk. The FCDO has not lifted its advice that only essential travel should be taken at the moment by UK travellers, and while this advice stays in place, travel insurers will not cover your trip. The UK economy is still suffering so this could be a chance to boost the ailing UK tourist trade and help small businesses return to some kind of normality and save the summer.
Fiona Macrae, head of consumer awareness initiative, travelinsuranceexplained.co.uk explains why travel insurance is still important even if you are holidaying in the UK and highlights that added financial protection is now available to cover Covid-19. [READ MORE…]
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