A BIG rally is likely to occur in 2024, here's why...

13:51, 13th November 2023
Justin Waite
Taking Stock

Taking Stock on Monday 13th November 2023

Taking Stock: Is a look at today's top business news & investment views plus we cover the winners, losers, the most read company news & the most followed. Today this includes:

A BIG rally is likely to occur in 2024, here's why...

Whenever the AIM All Share has experience a yearly drop exceeding -0.2%, at least the next two years has experienced a positive gain.

On the one occassion the AIM All Share has had 2 consecetive years of negative return, the index has rallied very strongly, with 64% gain, in the first year and 42% in the subsequent year.

Right now we have experience two consecitive years of negative returns.

Companies mentioned today include:

11:50 & 24:44 Biome Technologies #BIOM 
11:55 Good Energy #GOOD 
12:25 British Land #BLND
12:30 IOG Plc #IOG 
12:59 88 Energy #88E 
13:42 Vast Resources #VAST 
14:12 & 15:10 & 18:10 Saietta #SED 
19:00 28:10 Card Factory #CARD 
21:39 Alkemy Capital #ALK 
23:20 Empire Metals #EEE 
24:15 Alba Minerals #ALBA
24:45 Biome Technologies #BIOM 
25:35 RUA Life Sciences #RUA
25:48 Brave Bison #BBSN 
29:18 AMTE Power #AMTE 
30:50 Kainos #KNOS 
32:35 FDM Group #FDM 


Asking prices of UK homes fall by most in five years, Rightmove says

Asking prices for homes in Britain have fallen at their fastest pace in five years for the time of year, property website Rightmove said on Monday, underscoring how rising borrowing costs have caused a housing market slowdown.

Average asking prices for homes fell by 1.7% between Oct. 8 and Nov. 4, a bigger fall than is typical for the pre-Christmas period, Rightmove said.

Rightmove said asking prices were 3% below May's peak while agreed sales were 10% below their pre-pandemic level in 2019, a less severe fall than in the month to early October.

There were signs that the shortage of homes for sale was easing with properties for sale only 1% behind their 2019 level, it said.

(Click here to read more)

Strong pay growth in UK spreads to public sector, survey shows

Strong pay growth in Britain's private sector will be matched in the public sector in the year ahead, according to a survey which showed no sign of an easing of inflationary heat in the jobs market.

The Chartered Institute of Personnel and Development (CIPD) said employers in the private and public sectors both planned 5% pay rises, meaning public workers were on course for their biggest pay rise since CIPD began its surveys in 2012.

The Sept. 18-Oct. 8 survey of 2,000 employers took place after Prime Minister Rishi Sunak offered a pay rise of more than 6% to teachers, doctors and other public workers in July.

The Bank of England expects wage growth of 4.25% next year, a big part of its decision to keep interest rates at a 15-year high of 5.25% despite a fall in headline inflation and signs of stagnation in the economy.

(Click here to read more)


Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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