UK consumers borrowing again as economy reopens – business live

2 months ago 51

Rolling coverage of the latest economic and financial news

Latest: UK consumer credit rose in May, first time since August 2020 Consumer credit borrowing outstrips repayments…due to car loans and personal loans Households put less into bank accounts, as shops and hospitality reopened

Earlier:

SMMT: UK jobs at risk without more battery factories Nationwide: Prices jumped 13.4% in last year… …but outlook is “harder to foresee”

12.35pm BST

Bridgepoint, the private equity group behind restaurant group Itsu, online cycling specialist Wiggle and the UK arm of Burger King, is planning to raise £300m with a stock market flotation in London.

The listing, expected to value Bridgepoint at up to £2bn in total, comes amid a surge in private equity deals partly prompted by a fall in asset values during the Covid-19 pandemic. Low interest rates have also led investors to pump money into private equity in search of better returns.

12.26pm BST

In the eurozone, confidence among businesses and households has risen sharply this month to a 21-year high, as economies emerged from lockdown.

The European Commission’s economic sentiment indicator, which tracks business and consumer confidence, rose to 117.9 in June from 114.5 in May -- the highest reading since 2000, and above expectations.

The Eurozone economic sentiment indicator rose by 3.4 points from the previous month to 117.9 in June 2021, the highest since an all-time high of 118.2 was reached in May 2000 and well above its long-term average and pre-pandemic level. pic.twitter.com/PzCjes9CE7

Eurozone economic sentiment rises thanks to the re-opening and driven by services, while industry stalls, and retail still has room to improve. pic.twitter.com/6eTtyHKxL3

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