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04/01/2002
UK shares optimism fuels hopes of global economy turnaround
The London shares markets were attributed with fuelling hopes of a turnaround in the global economy as the wave of optimism heightened hopes of a recovery.
Firmer trading in technology, media, and telecoms stocks pushed up expectations amid light shares trading on Friday, January 2.
The FTSE-100 had risen by around 0.5 per cent by mid-afternoon on Friday passing 5,330 points. The depressed Techmark 100 rallied 1.2 per cent to edge over 1,555 points by mid-afternoon.
Analysts pointed to increased investor confidence in anticipation of a recovery in the second half of 2002. The US Wall Street DOW Jones and Nasdaq led the way up one per cent and just over 3 per cent, as indicators hinted at a recovery in the US economy and an upswing in the US markets.
Techs, media, and telecoms saw renewed interest with some firms showing improvements of several per cent. Also healthier were retail stocks with a few leading companies showing up to 2 per cent surges on the back of an positive survey of the UK retailing sector from the Confederation of British Industry published on Thursday, January 3. (SP)
Firmer trading in technology, media, and telecoms stocks pushed up expectations amid light shares trading on Friday, January 2.
The FTSE-100 had risen by around 0.5 per cent by mid-afternoon on Friday passing 5,330 points. The depressed Techmark 100 rallied 1.2 per cent to edge over 1,555 points by mid-afternoon.
Analysts pointed to increased investor confidence in anticipation of a recovery in the second half of 2002. The US Wall Street DOW Jones and Nasdaq led the way up one per cent and just over 3 per cent, as indicators hinted at a recovery in the US economy and an upswing in the US markets.
Techs, media, and telecoms saw renewed interest with some firms showing improvements of several per cent. Also healthier were retail stocks with a few leading companies showing up to 2 per cent surges on the back of an positive survey of the UK retailing sector from the Confederation of British Industry published on Thursday, January 3. (SP)
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UK R&D spend is below European average
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UK R&D spend is below European average
The latest figures on research and development (R&D) spending shows that the UK lags behind the European average and falls well below the US. Figures released by the Office of National Statistics revealed that the UK spent £16.7 billion, equivalent to 1.83 per cent of Gross Domestic Product (GDP) on research and development in 1999.
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CBI predicts eventual recovery in UK economy
The Confederation of British Industry (CBI) has predicted that the UK economy will make a "gradual but slow" recovery. The latest figures released from the organisation suggest GDP growth of 1.7% during 2002 compared to 2.2% last year, a minor downward revision of 0.1 per cent from its previous forecast in February.
CBI predicts eventual recovery in UK economy
The Confederation of British Industry (CBI) has predicted that the UK economy will make a "gradual but slow" recovery. The latest figures released from the organisation suggest GDP growth of 1.7% during 2002 compared to 2.2% last year, a minor downward revision of 0.1 per cent from its previous forecast in February.
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