UK markets endured a cautious week as fresh data reinforced concerns about a softening economic backdrop and limited policy headroom. Surveys of economists pointed to a deteriorating labour market outlook, with unemployment expected to rise toward 5–5.5% by the end of 2026 amid weak growth and slowing wage momentum. Business sentiment also weakened, with a British Chambers of Commerce survey showing fewer firms expecting turnover growth and rising concern around tax and inflation pressures. Consumer behaviour remained subdued with KPMG and Barclaycard data highlighting reluctance to spend heading into 2026, with the first annual decline in card spending in five years. Manufacturing data offered some relief, with the Purchasing Managers’ Index (“PMI”) revised slightly lower but still at a 15-month-high, though growth remained skewed toward larger firms and exports continued to contract...

Stocks featured:

Endeavour Mining, Melrose Industries and Rolls-Royce Holdings

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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Last week the Bank of England (“BoE”) cut interest rates by 25 basis points to 3.75%, with Governor Andrew Bailey signalling optimism for hitting the inflation target by late spring and suggesting openness to further easing. This dovish shift, which also noted artificial intelligence-driven job displacement risks, contrasts with other policymakers' hawkish concern over "hot" wage growth. Analysts believe further cuts beyond 3.5% will require stronger evidence of cooling pay pressures. UK retail sales unexpectedly fell by 0.1% in November, driven by drops in food and online sales. However, the GfK Consumer Confidence index surprisingly rose to -17 in December on increased major purchase intentions, indicating moderating caution despite a subdued economic outlook...

Stocks featured:

Bunzl, Endeavour Mining and Fresnillo

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The past week revealed unexpected weakness in the UK economy, with Gross Domestic Product (“GDP”) contracting by 0.1% in October against expectations for modest expansion. The decline was driven by falls in both services and construction, alongside a steep 17.7% drop in motor vehicle production, as pre-Budget fiscal anxiety weighed heavily on output. Despite this immediate slowdown, the Confederation of British Industry (“CBI”) upgraded its growth outlook, raising its 2026 GDP forecast to 1.3% and 2025 to 1.4%, citing a temporary boost from government spending while warning that deep-rooted structural problems remain. Meanwhile, the latest Bank of England (“BoE”) & Ipsos survey signalled a gradual easing in public inflation expectations for the year ahead to 3.5%, though hawkish policymakers continue to warn of persistent upward risks...

Stocks featured:

Informa, Unilever and WPP

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The past week saw increased regulatory focus and a cooling labour market. The Bank of England (“BoE”) launched a "system-wide exploratory exercise" to stress-test private equity and credit markets, which hold 15% of UK corporate debt. The exercise will be run over two rounds, allowing officials to examine the impact of a crisis on the private capital market as well as on the wider financial system. Regulators around the world are concerned about the build-up of risks in the rapidly expanding private credit market after the collapse of the US car parts supplier First Brands and subprime auto lender Tricolor. UK Employment data showed a slowdown, with the BDO Employment Index hitting a 14-year low, and KPMG reporting continued declines in permanent placements and vacancies due to high costs and budget uncertainty. Despite this, persistent wage pressure for skilled labour pushed permanent salary inflation to a five-month-high, offering a slight sign of stabilisation...

Stocks featured:

Antofagasta, Diageo and JD Sports

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The week was defined by Chancellor Rachel Reeves’ pivotal budget, which combined £26 billion in tax rises with increased spending commitments. Despite the Office for Budget Responsibility (“OBR”) upgrading 2025 growth to 1.5%, the reaction from the business community was negative. Following the tax rises, KPMG countered the OBR, warning growth will stall to 1% in 2026. Corporate sentiment crashed as the Institute of Directors (“IoD”) reported near-record low confidence, while the Confederation of British Industry (“CBI”) saw service optimism fall at its fastest rate in three years. Although a £22 billion fiscal buffer calmed markets, the cost was a collapse in business investment intentions to pandemic lows. Furthermore, with the Bank of England (“BoE”) warning it may "look through" one-off price cuts, the rate path remains complicated despite markets pricing a near-certain December cut...

Stocks featured:

Lloyds Banking Group, St. James's Place and Whitbread

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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UK markets faced a difficult week as incoming data highlighted a loss of economic momentum ahead of this week’s Budget. The UK flash Purchasing Managers' Index (“PMI”) for November fell to a two-month low, with a slowdown in the services sector outweighing a modest recovery in manufacturing, signalling quarterly growth of just 0.1%. Retail sales fell 1.1% month-on-month, the first decline since May, while consumer confidence weakened sharply, with both GfK and British Retail Consortium (“BRC”) surveys showing significant deterioration. Inflation eased to 3.6% in October after three months at 3.8%, while core inflation softened to 3.4%, aligning with Bank of England (“BoE”) expectations. Pay settlements rose to 3.3%, the highest level this year, adding to cost pressures, while hawkish Monetary Policy Committee (“MPC”) members warned that policymakers cannot be complacent, highlighting ongoing upside risks...

Stocks featured:

Games Workshop, Halma and JD Sports Fashion

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The case for a December Bank of England (“BoE”) rate cut strengthened significantly last week, as a string of data pointed to a stalling economy and a rapidly cooling labour market. Third quarter gross domestic product (“GDP”) growth fell short of expectations at just 0.1%, with the lack of momentum reflecting continued weakness. Further to this, UK unemployment figures rose to 5%, the highest since 2021, prompting traders to price in an 80% chance of a BoE rate cut in December. In addition, UK wage growth is stalling, with a recent KPMG/Recruitment and Employment Confederation survey showing near 4-year lows, indicating to the BoE that wage pressures are easing. All eyes will now be on Wednesday's inflation data, forecast to ease to 3.6%, which would support the case for a more dovish BoE...

Stocks featured:

3i Group, SSE and Vodafone Group

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The Bank of England’s (“BoE”) Monetary Policy Committee delivered a narrow 5–4 vote to keep interest rates unchanged at 4%, marking one of the most finely balanced decisions in recent years. The split highlights the delicate equilibrium policymakers face amid uneven data. The BoE signalled that inflation, last recorded at 3.8% in September, has likely peaked and is now easing, keeping a December rate cut firmly on the table with markets pricing a 60–70% probability of a 0.25% reduction. Governor Andrew Bailey’s decisive vote, coupled with dovish comments acknowledging that a 3.5% terminal rate “fairly describes” his outlook, reinforced market conviction that the easing cycle could begin soon. Economic indicators were mixed with the UK Composite Purchasing Managers' Index (“PMI”) rising to 52.2, driven by services strength (52.3), while manufacturing stabilised (49.7) and construction contracted sharply (44.1)...

Stocks featured:

Airtel Africa, InterContinental Hotels Group and Rightmove

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The Bank of England’s (“BoE”) Monetary Policy Committee meets this Thursday to determine the UK’s next interest rate decision, with markets broadly expecting rates to remain unchanged. However, a growing camp of analysts believes recent macroeconomic developments could tilt the balance towards a rate cut. Governor Andrew Bailey’s vote will likely prove decisive, though the contrasting stances of Deputy Governors Sarah Breeden (dovish) and Clare Lombardelli (hawkish) underscore the committee’s divisions. The meeting takes place against a backdrop of persistently weaker UK business sentiment, with the Institute of Directors’ (“IoD”) confidence index registering lower, close to September’s record low. On the inflation front, employers expect pay settlements to ease to 3%, and shop prices have fallen for the first time since March; both developments strengthen the case for a more dovish BoE stance...

Stocks featured:

Airtel Africa, GSK and WPP

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The UK economy presented a nuanced picture last week, with signs of stability tempered by persistent structural challenges. Inflation held steady at 3.8% year-on-year, below forecasts, fuelling speculation of a Bank of England (“BoE”) rate cut in December, with futures now pricing a 75% probability. However BoE officials remained cautious as Governor Andrew Bailey highlighted Brexit’s drag on growth, while Monetary Policy Committee member Megan Greene resisted quarterly cuts. Economic data were mixed, with the Purchasing Managers' Index rising to a two-month high (51.1) and retail sales surprising positively, while borrowing hit a five-year peak and construction activity reached an 11-year low. Consumer sentiment improved slightly, but UK public inflation expectations over the next 12 months climbed to 4.2%, underscoring the BoE’s delicate balancing act...

Stocks featured:

London Stock Exchange Group, Rentolkil Initial and Fresnillo

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The UK economy presents a mixed outlook as the Bank of England (“BoE”) remains cautious about inflation persistence. Monetary Policy Committee (“MPC”) member Catherine Mann warned of clear upside risks to inflation and advocated maintaining tight policy, while fellow MPC member Megan Greene argued closer EU ties could boost productivity and ease price pressures. Chief Economist Huw Pill signalled a slower pace of easing amid uncertain shocks, and Governor Andrew Bailey faced scrutiny over policy direction at global meetings. Economic data were uneven, with unemployment rising to 4.8% and wage growth easing slightly, while gross domestic product rose 0.1% in August. Retail sales and consumer sentiment softened as household costs remained high, and grocery inflation accelerated to 5.2%. Business confidence weakened amid rising costs and potential tax hikes...

Stocks featured:

Endeavour Mining, Pearson and Whitbread

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The UK economy continued to show signs of strain this week as growth indicators stayed subdued and business confidence weakened. The construction Purchasing Managers' Index rose slightly to 46.2, though activity remained weak amid soft residential and civil engineering output. Business sentiment fell to a three-year low, weighed by tax and inflation concerns, while footfall and retail demand declined. Labour market data revealed slowing wage growth and rising candidate availability, reinforcing softer employment conditions. The Bank of England (“BoE”) warned of risks from stretched artificial intelligence-related (“AI”) valuations, while policymakers Catherine Mann and Huw Pill stressed the need for restrictive policy to ensure inflation returns to target...

Stocks featured:

IAG, Imperial Brands and Unite Group

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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This week US equities recovered their losses from the prior week. The S&P 500 and Nasdaq reached new record highs, with broad-based gains across the market. Small-cap stocks, as measured by the Russell 2000 Index, outperformed the broader market, signalling a renewed investor appetite for riskier assets. Headlines were dominated by the partial US government shutdown, which began after funding lapsed. Markets largely shrugged off concerns about the economic impact. However analysts noted that the current political gridlock could lead to a longer than average shutdown this time around...

Stocks featured:

AstraZeneca, JD Sports Fashion and Mondi

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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Global markets were mixed last week, with the US equity market ending lower. Investor optimism regarding the pace of future interest rate cuts was dampened by hawkish comments from several Federal Reserve ("Fed") officials. The S&P 500 finished the week lower, while the technology-heavy Nasdaq Composite fared worse, falling 0.9%. The Russell 2000 Index also registered its first weekly loss since early August. Fed Chair Jerome Powell noted on Tuesday that the economy is in a “challenging situation” due to near-term inflation risks and downside labour market risks. He also acknowledged that “equity prices are fairly highly valued.” Other regional Fed officials echoed these concerns, cautioning against further monetary policy easing amid persistently high inflation. Despite this, within the S&P 500, the energy sector rallied, advancing alongside oil prices in response to President Donald Trump’s call for European Union nations to cease purchases of Russian oil and gas. Most other sectors declined...

Stocks featured:

Antofagasta, Kingfisher and Metlen Energy & Metals

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The UK economy continues to flash mixed signals, leaving the Bank of England (“BoE”) at the centre of investor attention. Governor Andrew Bailey stressed that interest rate cuts are “not yet over,” acknowledging softness in the labour market but remaining cautious over persistent inflation risks. The Monetary Policy Committee (“MPC”) voted 7–2 to hold the base rate at 4%, while slowing quantitative tightening (“QT”) to £70 billion annually from £100 billion to calm gilt market volatility. Economic data provided a similarly uneven picture. Retail sales surprised positively with a 0.5% month-on-month rise, driven by strong clothing demand, yet consumer confidence weakened as borrowing pressures and elevated prices weighed on households. Wage growth, now at its slowest pace in three years, underscores the fragile backdrop, while August government borrowing of £18 billion exceeded forecasts and highlighted fiscal strain...

Stocks featured:

Pets at Home, Spire Healthcare and Trustpilot

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The UK economy continues to show mixed signals, with labour market weakness increasingly evident. Data from the Recruitment and Employment Confederation and KPMG revealed starting salaries growing at their slowest pace since the Covid pandemic, while staff availability surged, reflecting cooling demand. Consumer trends remained fragile with Barclaycard reporting spending up just 0.5% year-on-year, well below inflation, and the British Retail Consortium’s shopper confidence index fell further as food price pressures persisted. Retail sales saw modest support from warm weather, but underlying volumes remained soft. July gross domestic product (“GDP”) was flat, dragged down by production, although services activity remained resilient. Infrastructure financing is surging, and fintech investment continues to perform strongly, providing pockets of growth even as inflation expectations rise and fiscal pressures mount...

Stocks featured:

Anglo American, Associated British Foods and BAE Systems

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.

UK economic signals painted a mixed picture last week. Retail sales beat expectations in July, though sharp backward revisions tempered optimism, while Halifax data showed house prices at record highs despite affordability concerns. Yet headwinds remain, as employment contracted at its fastest pace in four years following the payroll tax raid and borrowing costs climbed, heightening the risks of a housing slowdown. Services Purchasing Managers’ Index (“PMI”) growth offered resilience, but manufacturing and construction remained weak, with cement production at 1950s lows. Bank of England (“BoE”) officials struck a cautious tone, signalling slower rate cuts and bond sales, as inflation expectations ticked higher, underscoring persistent structural fragility...

Stocks featured:

Admiral Group, Babcock International and Fresnillo

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.

The UK economy presented a mixed picture last week as inflationary pressures persisted alongside signs of a weakening labour market. Food price inflation accelerated to 4.2% year-on-year, driven by higher global supply costs and seasonal pressures, while energy bills are set to rise by more than expected this winter, adding to household strains. Labour market data showed vacancies at a five-year low and analysts warned unemployment could soon reach 5%. Retail sales volumes also weakened for an 11th consecutive month in August. Meanwhile, shops have raised prices by the most since the end of 2023, according to the Confederation of British Industry (“CBI”) distributive trades survey. Meanwhile, Bank of England (“BoE”) officials struck contrasting tones: Governor Andrew Bailey flagged weak growth challenges, while Catherine Mann cautioned that inflation risks remain elevated, reinforcing the fragile balance the BoE faces between growth and inflation...

Stocks featured:

Bunzl, Fresnillo and Kingfisher

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

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The S&P 500 index rallied on Friday to close 0.29% higher, recovering some ground after four consecutive days of losses. The technology sector led the decline earlier in the week as the artificial intelligence (“AI”) sector came under pressure, with the so-called “Magnificent Seven” stocks suffering a three-day sell-off. Concerns over future profitability combined with stretched valuations acted as the trigger, following research from the Massachusetts Institute of Technology indicating that 95% of organisations are achieving no returns from AI. Sentiment was further weighed by comments from OpenAI chief executive Sam Altman, who cautioned that an AI bubble may be forming...

Stocks featured:

JD Sports Fashion, Rolls-Royce and WPP

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.

This week the UK economy continued to present a conflicting picture, marked by both resilience and fragility. London bore the brunt of tax-driven job losses, shedding 45,000 roles since October, as payroll tax hikes and a higher minimum wage hit private employers hardest. Meanwhile, artificial intelligence (“AI”) is beginning to reshape the labour market, with technology and finance job postings down 38% over the past two years. The Office for National Statistics (“ONS”) posted a gross domestic product (“GDP”) figure which surprised to the upside, expanding 0.3% over the previous quarter, with services, industry and construction delivering broad-based gains. However, exports to the US plunged to a three-year low under tariff pressure, underscoring trade vulnerabilities. Policymakers remain cautious as the Bank of England (“BoE”) warned inflation risks could limit scope for rate cuts, a view reinforced by wage growth holding at 5%...

Stocks featured:

Admiral Group, Beazley and Spirax-Sarco Engineering

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.