EUROPE - Investors took heart from positive figures registered by the European Commission this week, showing the first surge of business confidence in the eurozone since the September 11 terrorist attacks.
The Commission’s Business Climate Indicator (BCI) posted a -1.03 figure for January 2002 - a climb of almost 0.2 points over December’s year-low value of -1.21. The Commission added that such developments were principally driven by positive production expectations.
To improve the understanding of the business cycle, the Directorate General for Economic and Financial Affairs (DG ECFIN) formulated a monthly indicator designed to deliver an assessment of the cyclical situation within the euro area.
The indicator uses five balances of opinions from the industrial survey undertaken in the framework of DG ECFIN’s business and consumer surveys, and separates out the information that is common to each of the series.
Generally then, a high level indicates a healthy cycle, with low level points conversely indicating an adverse business climate.
The next business indicator is scheduled for March 4.
By Madhu Kalia
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.