Leading Indicators | London leads as Europe’s tech capital
Discover key economic and financial metrics, and what to look out for in the week ahead.
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Here we look at the leading indicators in the world of economics.
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Political upheaval sparks volatility in French stock markets
The region-wide Europe Stoxx 600 index experienced its steepest decline since October 2023 following President Emmanuel Macron’s recent decision to hold a snap election. Consequently, the CAC 40, which tracks the 40 largest French stocks, dropped -6%. Meanwhile, the FTSE 100 has hit all-time highs this year, posting a +9% gain YTD.
London remains Europe’s premier tech hub
The latest Global Startup Ecosystem report ranks London as the #2 ecosystem for startups, tied with New York and just behind Silicon Valley at #1. According to their analysis, the total value of London’s tech ecosystem has risen +788% over the past decade. The report also notes that London is now home to 103 unicorns (startups valued at over $1billion).
Inflation expectations are at their lowest since 2021
Despite UK CPI coming in higher-than-expected last month at 2.3%, the latest Bank of England (BoE) Inflation Attitudes Survey reveals that UK inflation expectations have dropped to a three-year low. Households anticipate a +2.8% price increase over the next 12 months, down from +3.5% a year ago. This comes in anticipation of tomorrow’s release of May’s inflation data.
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