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London drives stock market rally.

 The stock market rally has further to run this year; analysts have forecast signs that inflation has

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peaked, and a more resilient economy promises to support sentiment. Shares in London have outperformed City expectations since the start of this year, with the FTSE 100 breaching the 8,000 mark for the first time this week. Analysts at Barclays and Goldman Sachs believe the FTSE 100 index will end the year above its present level, at 8,200, compared with the record 8,012.53 hit on Thursday. However, Barclays said that fear of missing out among institutional investors was likely to return, particularly among asset managers that had «stayed on the sidelines, sticking to the stagflation playbook of 2022», Barclays said.

However,persistent inflation means there is no free lunch and higher-for-longer rates are the cost for resilient growth». The top three biggest risers on the FTSE 100 since January are JD Sports, the athleisure retailer, International Consolidated Airlines, owner of British Airways, and BT Group, reversing a bruising sell-off in each of those companies last year. In recent years, the FTSE 100 has had to watch from the sidelines as its overseas peers, notably in the United States, set record after record. The decline in sterling’s value has provided another boon for the heavyweight FTSE 100, whose constituents make three-quarters of their earnings overseas.

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  1. Andrea18 February 2023 at 16:41

    Unfortunately the UK is not in a good place right now and this doesn't look like it will get better any time soon. There is dire need of good leadership at the top and plans in place for the next 5-10 years not just 1-2 years.

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Cloud Bookkeeping

HS2 cost cuts new routes and add delays.

 Trans­port depart­ment offi­cials have begun work on «Project Sil­ver­light» sug­gest­ing the high­speed rail scheme might face four addi­tional years of delay. The planned High Speed 2 rail line faces fur­ther delays of up to four years and more cuts to the project under plans being drawn up by min­is­ters to rein in its bal­loon­ing costs. The extra delays to the coun­try’s biggest infra­struc­ture project would mean that it would not be com­pleted until as late as 2045 — 12 years after ori­gin­ally planned. «This is a func­tion of infla­tion; we are hav­ing to find huge sav­ings because the cost of everything the depart­ment is already doing will have become so much more expens­ive by then,» said one gov­ern­ment offi­cial. In Octo­ber, the FT repor­ted that the Treas­ury had asked HS2’s man­age­ment team to identify poten­tial cuts or «scope reduc­tions» to the high-speed line. Trans­port depart­ment offi­cials have sub­sequently begun work on Project Sil­ver­light aimed at fi...
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