UK Consumers Most Worried in Major Economies About Inflation

British consumers are more pessimistic than their peers in major economies about the prospects for inflation and their own personal finances.

The findings in a survey of 18 countries by YouGov Plc add to evidence that the UK is being hit harder than most by a surge in consumer prices and shortages after the coronavirus pandemic.

The poll, shared exclusively with Bloomberg, showed 71% in the UK expect the cost of living will “increase a lot” over the next 12 months. That’s higher than any other nation and well above the 48% reading in the US. In total, nine-in-10 of those in the UK are bracing for higher costs, also the most in the survey.

The research covers almost 20,000 adults from China and Indonesia to the US, France and Poland. It backs up suggestions from economists that the UK is facing a unique inflation shock — and one that is likely to prove more enduring than in other advanced economies.

On top of the energy and supply chain shocks faced by other countries, the UK is grappling with a falling currency, the aftershocks of its departure from the European Union and tax increases that threaten to eat further into incomes.

In the face of those events, 61% of people in the U.K. expect their personal financial situation to worsen over the next year. That’s more than any other nation in the poll. More than a quarter are predicting things will get “a lot worse.”

The findings illustrate the scale of the inflation crisis facing the UK, which is causing a headache for both Prime Minister Boris Johnson and Bank of England Governor Andrew Bailey. 

With the cost of fuel and food soaring, UK price gains are already at a four-decade high of 9%, while a report on Wednesday is expected to show a further acceleration to 9.1%. Gains are set to hit double digits later this year when further energy bill increases kick in. 

That’s left the UK at risks of a severe economic downturn, or even a recession, as consumer confidence plummets and household’s disposable incomes face up to one of their worst years on record.

Johnson’s government has responded by introducing a multi-billion pound program of aid for households. The central bank, meanwhile, has hiked rates for five straight meetings and hinted it unleashed even bigger moved if inflation spirals further out of control.

The survey is not alone in painting the UK in a poor light. Speaking to MPs on the Treasury Committee last month, former BOE rate-setter Kristin Forbes, said the UK alone among major economies was facing inflationary pressures from all six of the key sources she follows.

Prices are set to rise a further 5.3% next year on average, the highest in the Group of Seven, according to the International Monetary Fund.

With the crunch looming, the YouGov poll shows most expect to cut spending on luxuries such as holidays and meals out. They also may attempt to reduce energy use and shift habits when it comes to food shopping. About 40% will save more or travel less, and a third will dip into existing savings, the poll shows.

Still, in a more positive sign, only 10% plan to borrow more to help them through the crisis.

Source :- bloomberg

Dividend Payment Schedule (January 2023)(Update 23.01)

Dear Clients,

The table below contains the information regarding the upcoming dates of ex-dividend or other corporate actions for the underlying stocks of our Share CFD.

NameSymbolAmountCurrencyNext-Ex-Date
Pfizer Inc. CFDPFE.US0.41USDJan 26
Prospect Capital CorporationPSEC.US0.06USDJan 26

Please note that the dividend or price adjustment amounts listed are provided for reference by our Liquidity Provider only. These figures are subject to change.

Clients who hold CFD stocks until the ex-dividend date listed below will receive or be charged dividends if they buy or sell CFD shares respectively. Dividends will not be received or charged on or after the ex-dividend date.

Clients who hold buy/long CFD shares may receive dividends calculated as follows:

Dividend received = Share Dividend declared x no. of CFD shares in long position

Clients who hold sell/short CFD shares may be charged dividends calculated as follows:

Dividend charged = Share Dividend declared x no. of CFD shares in short position

Note: The dividends will be paid or charged on the ex-dividend date in your trading account.

Please feel free to contact us if you have any questions.

Dividend Payment Schedule (2023 – January)

Dear Clients,

The following table is the information on upcoming dates of ex-dividend or other corporate actions for the underlying stocks of our Share CFD

NameSymbolAmountCurrencyNext Ex-Date
Repsol SAREP1.ES0.35EURJan 9
Verizon Communication Inc CFDVZ.US0.66USDJan 9
AT&T CFDT.US0.28USDJan 9
Oracle Corp CFDORCL.US0.32USDJan 9
Shaw Communications Inc CFDSJR.US0.09CADJan 12
Abbot Laboratories CFDABT.US0.51USDJan 12
Abbvie Inc. CFDVABT.US1.48USDJan 12
Procter & Gamble Co CFDPG.US0.92USDJan 19
Commercial Metals Co CFDCMC.US0.16USDJan 18
Caterpillar inc CFDCAT.US1.2USDJan 19
Colgate-Palmolive Co CFDCL.US0.47USDJan 20
Pfizer Inc. CFDPFE.US0.41USDJan 26
Prospect Capital CorporationPSEC.US0.06USDJan 26

Please note that the dividend or price adjustment amounts listed are provided for reference by our Liquidity Provider only. These figures are subject to change.

Clients who hold CFD stocks until the ex-dividend date listed below will receive or be charged dividends if they buy or sell CFD shares respectively. Dividends will not be received or charged on or after the ex-dividend date.

Clients who hold buy/long CFD shares may receive dividends calculated as follows:

Dividend received = Share Dividend declared x no. of CFD shares in long position

Clients who hold sell/short CFD shares may be charged dividends calculated as follows:

Dividend charged = Share Dividend declared x no. of CFD shares in short position

Note: The dividends will be paid or charged on the ex-dividend date in your trading account.

Please feel free to contact us if you have any questions.

Trading Schedule From 23/01/2023 To 27/01/2023

Dear Trader,

Please note that due to the upcoming holiday, the trading hours for some instruments will be slightly modified. All times given are in GMT+0

DateInstrumentStatus
23 JanHKIND, CHNIND, CHNcash, KOSP200, HKcashNo trading
24 JanHKIND, CHNIND, CHNcash, KOSP200, HKcashNo trading
25 JanHKIND, CHNIND, CHNcash, HKcashNo trading
26 JanAUS200trading from 6:15

Best regards

Change Leverage Of Stock CFDs (22 Jan 2023 To 1 Feb 2023 )

Dear traders,
Due to recent high volatility, the leverage for stock CFDs will be amended to be 1:10 within few days in January as follow:

SymbolLeverage change to 1:10Leverage change to 1:20
MMM.US22-JAN-2325-JAN-23
GE.US22-JAN-2325-JAN-23
JNJ.US22-JAN-2325-JAN-23
LMT.US22-JAN-2325-JAN-23
MSFT.US22-JAN-2325-JAN-23
ALO.FR23-JAN-2326-JAN-23
ABT.US23-JAN-2326-JAN-23
T.US23-JAN-2326-JAN-23
BA.US23-JAN-2326-JAN-23
UU.UK23-JAN-2326-JAN-23
TSLA.US23-JAN-2326-JAN-23
INTC.US24-JAN-2327-JAN-23
MC.FR24-JAN-2327-JAN-23
MA.US24-JAN-2327-JAN-23
V.US24-JAN-2327-JAN-23
AXP.US25-JAN-2328-JAN-23
CL.US25-JAN-2328-JAN-23
CAT.US29-JAN-2328-JAN-23
MCD.US29-JAN-2328-JAN-23
AMD.US29-JAN-2328-JAN-23
XOM.US29-JAN-2328-JAN-23
PFE.US29-JAN-2328-JAN-23
UPS.US29-JAN-2328-JAN-23
F.US31-JAN-231-FEB-2023
AAPL.US31-JAN-231-FEB-2023
GOOGL.US31-JAN-231-FEB-2023

Changes to leverage rates are required to better reflect levels of internationally available liquidity and risk management against recent high volatility.

The change will be applied to existing positions and new positions.

Sincerely

Dividend Payment Schedule (January 2023)(Update 16.01)

Dear Clients,

The table below contains the information regarding the upcoming dates of ex-dividend or other corporate actions for the underlying stocks of our Share CFD.

NameSymbolAmountCurrencyNext-Ex-Date
Procter & Gamble Co CFDPG.US0.92USDJan 19
Commercial Metals Co CFDCMC.US0.16USDJan 18
Caterpillar inc CFDCAT.US1.2USDJan 19
Colgate-Palmolive Co CFDCL.US0.47USDJan 20

Please note that the dividend or price adjustment amounts listed are provided for reference by our Liquidity Provider only. These figures are subject to change.

Clients who hold CFD stocks until the ex-dividend date listed below will receive or be charged dividends if they buy or sell CFD shares respectively. Dividends will not be received or charged on or after the ex-dividend date.

Clients who hold buy/long CFD shares may receive dividends calculated as follows:

Dividend received = Share Dividend declared x no. of CFD shares in long position

Clients who hold sell/short CFD shares may be charged dividends calculated as follows:

Dividend charged = Share Dividend declared x no. of CFD shares in short position

Note: The dividends will be paid or charged on the ex-dividend date in your trading account.

Please feel free to contact us if you have any questions.