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FTSE 100 at 8000? Experts are divided

In a bold call analysts at banking firm Citigroup said the FTSE 100 would hit 8000 by the end of next year.<p>The bank has predicted that London’s stock market will soar by more than 22pc to end 2014 at 8000.<p>Shares have never traded above 6930, reached during the dotcom boom at the end of 1999.<p>The …

Stock Markets

EU and IMF warn of 'downside risks' to Cyprus economy as unemployment spikes

Unemployment in Cyprus has increased at a faster pace than predicted by the European Union and International Monetary Fund and both lenders have warned of “considerable downside risks” to the island’s economic prospects<p>EU and IMF reports into progress in Cyprus since its €10bn bailout in March …

Economics

Holiday hassles

BEWARE the Ides of August. For a month associated (in Europe, especially) with holidays and long weekends, August has seen an awful lot of financial …

The UK jobs market in five graphs

Britain's unemployment rate has hovered around 8pc over the past two years, while total employment rates have risen steadily. Here are five graphs which show how the jobs landscape has changed recently.<p>UK jobless claims<p><noframes>Interactive chart: Claims for UK Jobseeker's …

Too tight or back to normal?

AN INEVITABLE consequence of the falling inflation and rising bond yields referred to in a recent post is that real yields have risen, as the chart …

A la carte and half-baked

WHEN Mario Draghi unveiled his plan to do “whatever it takes” to save the euro, he sensibly combined carrot with stick. Countries that wanted the …

Milda or Europa?

LATVIANS affectionately call her Milda. With her folk head-dress and braided locks, she appeared on a silver coin minted by the first Latvian …

On being propped up

THE gloom in Spain is almost palpable. Yet two years on from the protests begun in Madrid by young Spaniards known as <i>los indignados</i>, most accept …

Indignant, undignified

JOSÉ GARCIA used to work as a doorman. But two years ago he lost his job. Since then the 62-year-old has lived off unemployment insurance built up …

Hobbling behind America

EUROPEANS like to blame America for their crisis. But look at the numbers, and it is plain the euro zone has mishandled its response. Take growth: …

The sleepwalkers

YOU may have missed it, but the European Union held a summit this week. Taking in a nutritious working lunch, Europe’s prime ministers, presidents …

Up, but not out

WHAT a difference a year makes. Last May Greece seemed to be heading out of the euro. Lagging reforms, political in-fighting and violent protests had …

Coming in

ACROSS Croatia many parties are planned. After 12 years’ slog the country will join the European Union on July 1st. Foreign dignitaries will come to …

Only the ECB can improve bank credit supply

<i>A recent Free exchange column discusses the European Central Bank's troubles in providing support to peripheral economies (summary here). We are</i> …

After austerity, what?

LIKE France’s François Hollande a year ago, Italy’s Enrico Letta rushed to Berlin immediately after taking power, and with a similar message: Italy …

Steady path to disappointment

WE WILL have a full analysis of America's latest job report up shortly. In the meantime, I wanted to present one thought. The report was encouraging: …

Japan is turning but the market remains inscrutable

The worst feeling for an investor is losing money. Running a close second is seeing someone else making the money that could have been yours if only… well, if only.<p>Six months ago, the Nikkei 225 index traded at about 9,000 and I wrote an article here discussing whether this time was different. My …

Stock Markets

Broken transmission

WHEN interest rates are high savers are happy, but borrowers are not. When they fall, savers’ pain is debtors’ gain. It is a natural trade-off. But …

Threat to the eurozone is as strong as ever

The eurozone economy has contracted every single quarter since the end of 2011. During the first three months of 2013, the region's GDP shrank by a punishing 0.6pc, having fallen at a similar pace the quarter before.<p>Responding to this prolonged slump, the <b>European Central Bank cut interest rates on</b> …

Economics

'Worst is over' claims Greece ahead of IMF health check

Greece's crisis-hit economy is finally beginning to heal, according to the country's finance minister ahead of a crucial report by the International Monetary Fund which is likely to be more positive than in the past.<p>Yannis Stournaras said "the worst is over" and the country had "reached the [bottom …

Economics

Surprise appointment

PUNTERS betting on accepted wisdom took a bath on May 2nd when Canada’s Conservative government named Stephen Poloz as the successor to Mark Carney …

The third lever of macroeconomics

ECONOMICS undergrads learn early on about two levers to manage the macroeconomy: fiscal policy and monetary policy. Events of the last five years …

Mend the money machine

MONEY, John Stuart Mill said, is just a machine: a tool for doing things, like exchanging goods, that take longer without it. Milton Friedman upped …

Economics

Growth and other good things

THERE is no shortage of economic growth in Africa. Six of the world’s ten fastest growing economies of the past decade are in sub-Saharan Africa. A …

Baltic ambition

VALDIS DOMBROVSKIS is undeterred. In spite of Cyprus, Slovenia and the continuing euro crisis, the prime minister of Latvia wants his country to join …

Rotation schmotation

ONE of the supposed themes of the year was the coming great rotation out of bonds and into equities (see my January post on this, which suggested at …

Like chess, only without the dice

GOLD suffered its biggest two-day fall in 30 years on April 12th and 15th. When an asset falls so sharply in price, it is tempting to believe that …

Who will be Italy's next president?

COWED by the threat of crushing ECB intervention if they dare to go too short of Italian bonds, investors and traders are still pushing to the back …