News

Roundtable discussion with the Bank of England

This week, EFG Harris Allday joined Greater Birmingham Chambers of Commerce in hosting the Bank of England Roundtable discussion.

Global equities decline as most central banks go on hold

It was a central bank heavy week, with concerns that interest rates would be left higher for longer pressuring stocks.

European Central Bank signals end to rate hikes, lifting markets

Mixed economic data out of the US led to a volatile week on Wall Street. August’s producer price index logged its biggest monthly gain since June 2022, however, core prices came in line with expectations.

Why Art Matters in Britain’s Second City

EFG Harris Allday look forward to hosting the next Professional Network event at the Colley Ison Gallery in Birmingham.

Apple drags down S&P 500 and Nasdaq performance

In the US, better-than-expected economic data pushed Treasury yields higher. The ISM’s Services Purchasing Managers’ Index unexpectedly rose to a six-month high of 54.5 in August, while the weekly jobless claims figure dropped to its lowest level since February.

Global Market Review – August 2023

In August we observed a more volatile month for equity markets with global equities breaking a three-month streak of positive returns and ending the month down 1.3%. This did follow a recovery from a 4.6% drawdown mid-month, perhaps indicating that support remains. Key themes over the month included deteriorating global economic conditions, continued disinflation coupled with stubborn core inflation, and reiterations from key central banks that policy is set to remain restrictive.