From 1h ago 08. 03 Introduction: Markets subdued and strikes suspended Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy. The financial markets are subdued on the first day of national mourning following the death of Queen Elizabeth II .
Business groups and City investors are remembering the Queen’s service over seven decades, and her contribution to modern Britain. Tony Danker , CBI Director-General, spoke for the business world last night when he hailed her leadership and values: . css-knbk2a{height:1em;width:1.
5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} “Throughout her unprecedented 70 years on the throne, HRH Queen Elizabeth II served the nation with distinction as a stalwart example of British values of honour, dignity and resilience. She dedicated her life to the people of the UK and the Commonwealth, providing compassionate and inspirational leadership during the many challenging times of her long reign. “Times are hard right now – made more so by the loss of our much-loved Queen – and our tribute should be to work tirelessly to build a better future for the people of this country in memory of Her Majesty.
” The New York Stock Exchange and Nasdaq both observed a moment of silence yesterday to honour the queen. Photograph: The Guardian The London Stock Exchance has just opened as usual – unlike in sport, where events such as the third Test between England and South Africa and the PGA championship at Wentworth will be paused for at least a day. , Under Operation London Bridge ( the plan for the coming days ) the stock market would shut on the day of Elizabeth II’s funeral.
European Opening Calls: #FTSE #DAX #CAC #AEX #MIB #IBEX #OMX #SMI #STOXX pic. twitter. com/taxACTyGhR — Pedro Gallego Gil (@_SirPeter) September 9, 2022 But while the markets are open, the main indices aren’t expected to be volatile, with investors contemplating the Queen’s remarkable reign, and her work at home and abroad.
Bill Blain , strategist at Shard Capital , says Queen Elizabeth was “instrumental in establishing and strengthening the UK’s soft power” and its position on the world stage. . css-knbk2a{height:1em;width:1.
5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} It has been an extraordinary reign by an extraordinary queen – one of simple but unchallenged majesty. Admired and respected around the globe. Deeply loved at home.
For the next 10 days the UK will be in mourning. Life will go on, but don’t expect business as usual. The Guardian front page, Friday 9 September 2022; Queen Elizabeth II 1926-2022 pic.
twitter. com/5ROqSmVqE1 — The Guardian (@guardian) September 8, 2022 King Charles III is due to meet Liz Truss and address the nation: Death of Queen Elizabeth II: King Charles III to meet Liz Truss and address the nation – latest news Read more The agenda Today: EU energy ministers gather for emergency talks in Brussels on Friday discuss measures to counter the energy crisis Noon: OECD publishes its annual Employment Outlook report 5pm BST: Russian GDP and inflation report Updated at 08. 32 BST Key events 6m ago Selfridges and Liberty among stores to remain closed today 1h ago Rail and postal unions suspend strikes 1h ago Introduction: Markets subdued and strikes suspended Filters BETA Key events ( 3 ) Elizabeth II ( 5 ) UK ( 3 ) 6m ago 09.
02 Selfridges and Liberty among stores to remain closed today While the stock market is open, some retailers have closed their doors as businesses pay tribute to the Queen. Liberty London will not reopen its store in the West End of London until Saturday morning, saying: . css-knbk2a{height:1em;width:1.
5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} Our heartfelt sympathy and thoughts are with the Royal Family at this sad time. As a mark of respect Liberty Store will be closed until Saturday 10th September at 10am while we join the country in mourning. Our heartfelt sympathy and thoughts are with the Royal Family at this sad time.
As a mark of respect, Liberty Store will be closed until Saturday 10th September at 10 am while we join the country in mourning. pic. twitter.
com/2txIbogmgN — Liberty London (@LibertyLondon) September 8, 2022 Selfridges’s stores will remain closed today too, after closing early yesterday after the Queen’s death was announced. They will reopen on Saturday 10th September with our usual opening hours. The department store chain said: .
css-knbk2a{height:1em;width:1. 5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} Queen Elizabeth has been a reassuring constant throughout our lives, ascending to the throne on 6 February 1952, making her the longest-reigning monarch in British history. Over the past 70 years, her Majesty has been dedicated to the service of our country and the Commonwealth, demonstrating an enormous sense of duty and commitment.
34m ago 08. 34 The Queen was a regular visitor to the City, giving major speeches at Guildhall, opening new buildings, and visiting its most historic church, St. Paul’s Cathedral.
City AM have written a nice piece about the links between the Palace and the Square Mile. Here’s a flavour: . css-knbk2a{height:1em;width:1.
5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} At one lunch at the Guildhall, marking the 40th anniversary of her accession to the throne, she toasted the Square Mile’s joie de vivre. “This Great Hall has provided me with some of the most memorable events of my life,” she said. “The hospitality of the City of London is famous around the world, but nowhere is it more appreciated than among the members of my family,” she said at the lunch which took place just days after the fire at Windsor Castle.
Queen ELizabeth II delivering her speech after a Guildhall luncheon to mark the 40th anniversary of her accession to the throne. Photograph: PA That was the famous Annus horribilis speech, when the Queen remarked: . css-knbk2a{height:1em;width:1.
5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} “1992 is not a year on which I shall look back with undiluted pleasure. ” She also attended the opening of the Swiss Re building – better known as The Gherkin – when it first dominated the City of London skyline. Photograph: Peter Alvey/Alamy Updated at 08.
47 BST 42m ago 08. 26 With the stock market open as usual, the FTSE 100 has risen by almost 1%. The weakness of the US dollar today is lifting some equities, with mining companies leading the way.
Naeem Aslam, chief market analyst at Avatrade says: . css-knbk2a{height:1em;width:1. 5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} “Investors are digesting the sad news of Queen’s death in the UK and contemplating Federal Reserve Chair Jerome Powell’s most recent statements on inflation.
” It’s been a volatile week in the City, with the announcement of the country’s new Prime Minister and the death of its longest-reigning monarch. Stocks have been choppy, while government bonds weakened on concerns over the economic outlook, and higher borrowing to fund the energy bill freeze announced ysterday. 50m ago 08.
18 The pound is making up some ground against the dollar, recovering from hitting a 37-year low in Wednesday. Sterling has picked up a cent to $1. 16, as the dollar falls back against other currencies.
But as Reuters points out, the pound lost a lot of value over the Queen’s reign: . css-knbk2a{height:1em;width:1. 5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} Elizabeth was crowned in a nation exhausted by victory in World War Two and reigned for 70 years.
Sterling is perhaps a mirror on the long decline of empire over that time; pegged at $2. 80 in 1952, it touched a 37-year low of $1. 1407 this week.
It may yet fall further, as Britain borrows big to pay for energy subsidies economists think might cost £100 billion pounds or more. 1h ago 08. 06 The London Stock Exchange (LSE) has said markets will open as normal on Friday and will close at normal times today, after the death of Queen Elizabeth The LSE said it would notify markets of any subsequent changes to operating arrangements via a further notice, adding that it recognised public bank holidays in England and Wales.
It is expected that the funeral of Queen Elizabeth will be a public holiday, and in this scenario the LSE would be closed for trading. “We are deeply saddened at the passing of Her Majesty Queen Elizabeth II. Our sympathies and condolences are with The Royal Family.
” – London Stock Exchange Group pic. twitter. com/XQj6g2UWDv — LSEG (London Stock Exchange Group) (@LSEGplc) September 8, 2022 1h ago 08.
05 Rail and postal unions suspend strikes Three British trade unions representing postal workers and transport staff are suspending their scheduled strikes following the death of Queen Elizabeth. Royal Mail members of the Communication Workers Union had planned to take industrial action today over a pay dispute, but the union said it had called off the strike after the passing of the Queen. The RMT transport union, is suspending strikes planned for September 15th and 17th, saying: .
css-knbk2a{height:1em;width:1. 5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} “We express our deepest condolences to her family, friends and the country,” The TSSA (Transport Salaried Staffs’ Association) said it was cancelling its planned strike action for September and “will be respecting the period of public mourning. ” 1h ago 08.
03 Introduction: Markets subdued and strikes suspended Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy. The financial markets are subdued on the first day of national mourning following the death of Queen Elizabeth II . Business groups and City investors are remembering the Queen’s service over seven decades, and her contribution to modern Britain.
Tony Danker , CBI Director-General, spoke for the business world last night when he hailed her leadership and values: . css-knbk2a{height:1em;width:1. 5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} “Throughout her unprecedented 70 years on the throne, HRH Queen Elizabeth II served the nation with distinction as a stalwart example of British values of honour, dignity and resilience.
She dedicated her life to the people of the UK and the Commonwealth, providing compassionate and inspirational leadership during the many challenging times of her long reign. “Times are hard right now – made more so by the loss of our much-loved Queen – and our tribute should be to work tirelessly to build a better future for the people of this country in memory of Her Majesty. ” The New York Stock Exchange and Nasdaq both observed a moment of silence yesterday to honour the queen.
Photograph: The Guardian The London Stock Exchance has just opened as usual – unlike in sport, where events such as the third Test between England and South Africa and the PGA championship at Wentworth will be paused for at least a day. , Under Operation London Bridge ( the plan for the coming days ) the stock market would shut on the day of Elizabeth II’s funeral. European Opening Calls: #FTSE #DAX #CAC #AEX #MIB #IBEX #OMX #SMI #STOXX pic.
twitter. com/taxACTyGhR — Pedro Gallego Gil (@_SirPeter) September 9, 2022 But while the markets are open, the main indices aren’t expected to be volatile, with investors contemplating the Queen’s remarkable reign, and her work at home and abroad. Bill Blain , strategist at Shard Capital , says Queen Elizabeth was “instrumental in establishing and strengthening the UK’s soft power” and its position on the world stage.
. css-knbk2a{height:1em;width:1. 5em;margin-right:3px;vertical-align:baseline;fill:#C70000;} It has been an extraordinary reign by an extraordinary queen – one of simple but unchallenged majesty.
Admired and respected around the globe. Deeply loved at home. For the next 10 days the UK will be in mourning.
Life will go on, but don’t expect business as usual. The Guardian front page, Friday 9 September 2022; Queen Elizabeth II 1926-2022 pic. twitter.
com/5ROqSmVqE1 — The Guardian (@guardian) September 8, 2022 King Charles III is due to meet Liz Truss and address the nation: Death of Queen Elizabeth II: King Charles III to meet Liz Truss and address the nation – latest news Read more The agenda Today: EU energy ministers gather for emergency talks in Brussels on Friday discuss measures to counter the energy crisis Noon: OECD publishes its annual Employment Outlook report 5pm BST: Russian GDP and inflation report Updated at 08. 32 BST Topics Business Business live Economics Stock markets FTSE Sterling Reuse this content.
