Taking Stock on Tuesday 14th 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:
Is Inflation about to drop below 5%?
At 7am tomorrow Inflation Data is released for the UK. This is what is forecast:
CPI (YoY) (Oct)
Forecast: 4.8%
Previous: 6.7%
Actual: ???
Companies discussed on “Taking Stock” today:
05:29 06:30 Ondo Insurtech #ONDO
05:50 Good Energy #GOOD
05:55 Destiny Pharma #DEST
08:49 Kodal Minerals #KOD
10:30 & 11:30 Horizonte Minerals #HZM
10:55 Rockfire Resources #ROCK
13:36 Inspirit #INSP
13:50 & 19:59 Renalytix #RENX
14:45 & 19:10 Premier African Minerals #PREM
15:33 Greatland Gold #GGP
16:28 Argo Blockchain #ARB
18:30 & 22:03 Revolution Beauty #REVB
20:30 Atlantic Lithium #ALL
25:14 Zegona #ZEG
25:35 Allergy Therapeutics #AGY
27:09 & 29:01 Bushveld Minerals #BMN
29:55 Fintel #FNTL
30:25 & 32:00 Atome Energy #ATOM
31:40 Invinity Energy Systems #IES
32:48 Gaming Realms #GMR
34:40 Tekmar Group #TGP
35:00 & 39:12 Eurasia Mining #EUA
TOP BUSINESS STORIES
Pay rises outstrip inflation by most for two years
Pay growth has outstripped inflation by the most for two years, in a further sign that the squeeze on living costs may be starting to ease.
Regular pay rose at an annual rate of 7.7% between July and September. That was higher than average inflation over the same three months, which measures the rate at which prices rise.
However, the number of job vacancies fell for the 16th month in row, in signs the jobs market is weakening.
Between August and October, the estimated number of vacancies in the UK fell by 58,000 to 957,000 - although the Office for National Statistics (ONS) said.
But while there may be relief for many as the gap between pay rises and inflation widens, it is largely due to slowing price rises rather than big jumps in pay.
Wage growth is actually dwindling in some areas as expectations of future price rises diminish and the jobs market starts to weaken.
The average pay rise awarded in September was the smallest for six months, and in the private sector the typical rise was the least generous since January.
What's more, some of the industries that were forced to push up wages last year due to skills shortages are now feeling the bite from higher interest rates and other costs.
The Bank of England thinks this could hit hiring, with unemployment rising to 5% next year - the equivalent to losing more than 150,000 jobs - which means wage growth is likely to slow further.