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Assetsure news 19th
April 2007
Dow Jones Index at Record High - the US stock market has shrugged off recent worries
as the Down Jones Industrial Average soared to a record High. Better than
average corporate earnings helped spark the rise as positive sentiment returned
to the market. The dow closed up 30.8 points having now risen 12 times in the
last 13 sessions.
Sterling
soars to new record high - Sterling has climbed to it's highest level
against the dollar for 26 years, at one point it stood at $2.0131. Pay rises in
the United Kingdom rose to 4.6% in April and this is putting pressure on
inflation, this in turn could lead to an increase in interest rates .The Bank of
England monetary policy committee who voted 7 to 2 note to increase interest
rates this month may look to raise rates shortly following a leap in inflation.
The committee are split at the moment as to the best course of action to take,
if no action is taken shortly and inflation continues to creep up than the next
interest rate rise is inventible.
Dollar weakens
further - the
dollar further weekend against the Euro, the currency now used when
traders wish to weaken its position. China & Russia the 1st & 3rd largest
holders of dollars have signalled that they may wish to dispose of part of their
holdings and this may weaken the currency further. The Euro remains very strong
as investors believe that the Eurozone economy is strong and sustained growth is
expected. Sentiment towards US interest rate rises looks benign at the
moment and rate increases are not expected in the foreseeable future.
Listed
Buildings United Kingdom - This
weekend sees a listed building show at the Business design centre in Islington.
Owners of listed buildings can meet at the show to discuss ownership and any
common problems that arise out of ownership of this type of building. Owning
this type of building can bring a great degree of responsibility, alterations
and repairs are not easy to carry our and can prove quite costly. In certain
circumstances, grants may be available and the ability to be able to meet other
owners that have or have experience similar problems is very useful.
Home
Revision Plans - with effect from this month, home revision plans a
form of Equity release will be subject to regulation by the Financial Services
Authority. In future anyone that wishes to discuss this type of arrangement with
you has to be regulated by the Financial Services authority and a proper sales
procedure and supporting documentation regime has to be followed. Under this type of
scheme, you can sell all or part of the equity in your home to an insurance company
in return for a fixed sum of money or monthly income or both. This continues for
the rest of your life as does your right to live in the property. There has been
some concern as to the actual amount of money released by these schemes and thus
the FSA have decided to keep a closer eye of the selling of this product.
If you
want more information, please visit the FSA website
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