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Introduction: Markets are bought and strikes are blocked
Good morning, and welcome to our rolling coverage of business, financial markets and the global economy.
Financial markets were subdued on the first day of national mourning following the death of Queen Elizabeth II.
Business groups and city investors are reflecting on the Queen’s seven decades of service and her contribution to modern Britain.
Tony thank youThe CBI Director General last night spoke of the business world praising her leadership and values:
“During an unprecedented 70 years on the throne, HRH Queen Elizabeth II has served the nation with distinction, exemplifying the British values of honour, dignity and resilience. During her long reign, she gave her life to the people of England and the Commonwealth, providing compassionate and inspirational leadership.
“It is a very difficult time to lose our beloved Queen – and our honor is to work tirelessly in Her Majesty’s memory to build a better future for the people of this country.”
The New York Stock Exchange and Nasdaq observed silence yesterday to honor the Queen.
The London Stock Exchange opened as normal – except for sports events such as the third Test between England and South Africa and the PGA Championship at Wentworth, which were suspended for at least a day.
In Operation London Bridge (planning for the coming days), the stock market closes on Elizabeth II’s funeral.
But the major indexes are not expected to be volatile when the markets open, with investors reflecting on the Queen’s impressive reign and her career at home and abroad.
Bill Blainestrategist at Shard CapitalQueen Elizabeth has been “instrumental in establishing and strengthening the UK’s soft power” and its position on the world stage.
It’s an extraordinary reign by an extraordinary queen – one of simple but unchallenged majesty. Respected and respected around the world. A favorite at home.
The UK will be in mourning for the next 10 days. Life goes on, but don’t expect business as usual.
King Charles III Finding Liz Truss and talking to the public:
the agenda
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Today: EU energy ministers gathered in Brussels for emergency talks on Friday to discuss measures to tackle the energy crisis.
-
Noon: OECD publishes its annual Employment Outlook report
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5pm BST: Russian GDP and inflation report
Key events
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Full story: Royal Mail and rail workers call off strike after Queen’s death
Mark Sweeney
Post and rail strike called off after Queen Elizabeth II’s death, writes my colleague Mark Sweeney.
Royal Mail workers were to enter the second day of a 48-hour strike over pay and conditions. Unions canceled the event after Britain’s longest-serving queen died peacefully at Balmoral on Thursday afternoon at the age of 96.
Dave Wardof Chief Secretary relationship Workers unionLast night he said:
“Following the sad news of the Queen’s death, the union has decided to call off tomorrow’s strike out of respect for her service to her country and family.”
Here is the full story:
Selfridges and Liberty between stores will remain closed today.
Although the stock market was open, some retailers closed their doors as businesses paid their respects to the Queen.
Liberty London He won’t open his shop in London’s West End until Saturday morning.
Our heartfelt condolences and thoughts are with the royal family at this sad time. As a mark of respect, Freedom Warehouse will be closed until Saturday, September 10 at 10 a.m. as we rejoin our country.
Our heartfelt condolences and thoughts are with the royal family at this sad time. As a mark of respect, the Independence Store will be closed until Saturday, September 10, 2009 at 10:00 a.m. and we will mourn with the country. pic.twitter.com/2txIbogmgN
— Liberty London (@LibertyLondon) September 8, 2022
Selfridges stores will also remain closed today after closing yesterday morning following the announcement of the Queen’s death. We will be open Saturday September 10th during our regular business hours.
The department store chain said:
Queen Elizabeth has been a reassuring constant throughout our lives.
Over the past 70 years, Her Majesty has shown great responsibility and commitment to the service of our country and the Commonwealth.
The Queen was a regular visitor to the city, giving keynote speeches at the Guildhall, opening new buildings and visiting the historic St Paul’s Cathedral.
City AM wrote a good article about the connection between the castle and the square mile. Here’s a taste.
At a luncheon at the Guildhall celebrating her 40th year on the throne, she lamented the joie de vivre of the Square Mile.
“This great hall has provided me with the most memorable events in my life,” she said.
“The hospitality of the City of London is world-renowned, but nowhere is it more admired than by my family,” she said at a luncheon at Windsor Castle just days after the fire.
That was famous A terrible year Speech the queen said.
“1992 is not a year I look back on fondly.”
She also attended the opening of the Swiss Re Building, better known as The Gherkin, dominating London’s skyline.
As usual, the stock market was open FTSE 100 It increased by about 1%.
US dollar weakness is lifting some stocks today, with mining companies leading the way.
Naeem Aslam Chief Market Analyst at Avatrade He says:
Investors are digesting the sad news of the Queen’s death in the UK and reflecting on Federal Reserve Chairman Jerome Powell’s latest statement on inflation.
The announcement of the country’s new prime minister and the death of the long-reigning monarch has been an unsettled week in the city.
Stocks tumbled, while government bonds weakened on concerns over the outlook for the economy, and yesterday’s announcement of higher lending on the energy bill.
The pound is gaining some ground against the dollar, recovering from a 37-year low hit on Wednesday.
Sterling fell a penny to $1.16 as the dollar fell against other currencies.
But as Reuters He pointed out that the pound had lost a lot of value during the Queen’s reign.
Elizabeth was crowned and ruled for 70 years in a country weakened by World War II. Sterling is perhaps a mirror on the long decline of the empire in that period; In the year Capped at $2.80 in 1952, it touched a 37-year low of $1.1407 this week.
Britain could fall even further as it borrows heavily to pay for energy subsidies, which economists estimate will cost £100 billion or more.
The London Stock Exchange said markets would open as normal on Friday and close at regular hours today after Queen Elizabeth’s death.
The LSE said it will keep the market informed of any changes to its operating arrangements and is aware of public bank holidays in England and Wales.
Queen Elizabeth’s funeral is expected to be a public holiday, and the LSE will be closed for business as a result.
“We are deeply saddened by the death of Her Majesty Queen Elizabeth II. Our condolences and sympathies are with the royal family. – London Stock Exchange Group pic.twitter.com/XQj6g2UWDv
— LSEG (London Stock Exchange Group) (@LSEGplc) September 8, 2022
The railway and postal unions have called off the strike
Three UK unions representing postal workers and transport workers have called off planned strikes following Queen Elizabeth’s death.
Members of the Royal Mail Communication Workers Union He said the union had planned to take industrial action today over a pay dispute but called off the strike after the Queen’s passing.
of RMT The Transport Union is calling off a strike planned for September 15 and 17.
“We express our deepest condolences to her family, friends and country.”
of TSSA (Transport Wage Workers’ Union) announced that it had called off a planned strike in September and would “observe a period of public mourning”.
Introduction: Markets are bought and strikes are blocked
Good morning, and welcome to our rolling coverage of business, financial markets and the global economy.
Financial markets were subdued on the first day of national mourning following the death of Queen Elizabeth II.
Business groups and city investors are reflecting on the Queen’s seven decades of service and her contribution to modern Britain.
Tony thank youThe CBI Director General last night spoke of the business world praising her leadership and values:
“During an unprecedented 70 years on the throne, HRH Queen Elizabeth II has served the nation with distinction, exemplifying the British values of honour, dignity and resilience. During her long reign, she gave her life to the people of England and the Commonwealth, providing compassionate and inspirational leadership.
“It is a very difficult time to lose our beloved Queen – and our honor is to work tirelessly in Her Majesty’s memory to build a better future for the people of this country.”
The New York Stock Exchange and Nasdaq observed silence yesterday to honor the Queen.
The London Stock Exchange is open as usual – apart from sports, events such as the third Test between England and South Africa and the PGA Championship at Wentworth will stop for at least a day.
In Operation London Bridge (planning for the coming days), the stock market closes on Elizabeth II’s funeral.
But major indices are not expected to be volatile when the markets open, with investors reflecting on the Queen’s impressive reign and her career at home and abroad.
Bill Blainestrategist at Shard CapitalQueen Elizabeth has been “instrumental in establishing and strengthening the UK’s soft power” and its position on the world stage.
It’s an extraordinary reign by an extraordinary queen – one of simple but unchallenged majesty. Respected and respected around the world. A favorite at home.
The UK will be in mourning for the next 10 days. Life goes on, but don’t expect business as usual.
King Charles III Finding Liz Truss and talking to the public:
the agenda
-
Today: EU energy ministers gathered in Brussels for emergency talks on Friday to discuss measures to tackle the energy crisis.
-
Noon: OECD publishes its annual Employment Outlook report
-
5pm BST: Russian GDP and inflation report
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