UK house prices rise at fastest pace since 2014; fuel and clothes lift inflation – business live
Rolling coverage of the latest economic and financial news, as rising fuel and clothing costs push up the consumer prices index
- House price inflation hits six-year high…
- ..although prices were flat month-on-month
- House price sales highest since 2005
- BoE governor: We need more diversity
Earlier:
- Introduction: Consumer price index rises to 0.7% in March
- Analysts: Inflation will keep rising as economy reopens
- Asia-Pacific markets drop but FTSE 100 higher after Tuesday tumble
European investors have put worries about Covid-19 variants behind them, with stocks ending the day higher.
The pan-European Stoxx 600 has closed 0.7% higher at 436.92 points, back towards last week’s record highs, with gains in Paris, Frankfurt, London, Madrid and Milan.
LME update:#Aluminium 2368 +2.54%#Copper 9447 +1.73%#Nickel 16197 +1.48%#Lead 2034 +0.35%#Zinc 2816 +0.34%#Metals #Commodities
After the big declines seen yesterday, European markets have recovered some of their poise today, with the travel and leisure sector looking to find a bit of a base after recent declines, while health care stocks have outperformed, due to a positive read across from US medical devices company Intuitive Surgical, which has sent Smith and Nephew shares to two-month highs.
Airlines were big fallers yesterday with long haul carriers getting hit the hardest, over concerns that extended shutdowns in Asia markets could mean delays to the speedy resumption of long-haul travel. These concerns were borne out after IATA said that they were revising up their estimates for airline industry losses for 2021 to $48bn, from $38bn, presumably on the basis of delays to the resumption of international travel.
#UPDATE #Airlines are forecast to lose $47.7 billion (39.7 billion euros) in 2021, worse than previously forecast, global industry group the #IATA said Wednesday as the sector struggles to recover from the coronavirus pandemic https://t.co/nrZ2nZCPtU pic.twitter.com/lnRZ1gXMd3
Global airlines body IATA have lowered their global traffic forecasts for this year, as the pandemic and government restrictions continue to hit the sector.
In its latest industry outlook, the International Air Transport Association warns that travel restrictions, including quarantines, have “killed demand”.
#BREAKING Airlines face $47.7 billion loss in 2021, worse than earlier forecast: IATA pic.twitter.com/50oTvf3YnY
Latest @IATA outlook points to the start of industry recovery in the latter part of 2021. In the face of the ongoing crisis, these are the immediate priorities
See more ⏩ https://t.co/C35fRQpwKO pic.twitter.com/Bo5CuhYG7D
“This crisis is longer and deeper than anyone could have expected. Losses will be reduced from 2020, but the pain of the crisis increases.
There is optimism in domestic markets where aviation’s hallmark resilience is demonstrated by rebounds in markets without internal travel restrictions.
