Wednesday, 20th July: UK unemployment has fallen to 4.9%, its lowest level since July 2005. This is according to the most recent data from the Office for National Statistics (ONS) as the total unemployed fell to 1.65m in the period March-May. Wages, including bonuses increased by 2.3%, in part reflecting the introduction of a compulsory National Living Wage, introduced in April. It is yet to be seen what effects on employment the recent Brexit decision will have, with many expecting the unemployment rate to drift upwards over the coming quarters, including the Bank of England. The BoE released its monthly summary of business conditions where they claimed a third of firms they had spoken with did not expect a short term impact from the referendum result, however there would be some negative impact on investment or hiring plans over the next twelve months.
Nintendo has seen its share price more than double (at yesterday’s close) since the launch of Pokemon Go at the start of July. The game is available in more than 35 countries and is played by more than 3 billion people. However, the launch of the game in Nintendo’s parent country Japan has been delayed as developers have become concerned the overwhelming demand for the game would overload server capacity. The stock ultimately fell 13% on the disappointment but further news reports have reported the game is to launch tomorrow, although a spokesperson for Pokemon Company has denied any official Japanese launch date.
At the close markets in Europe were all in the green with the CAC +1.15%, the DAX +1.61% and the FTSE 100 +0.47. The FTSE 250 ended the day +0.67% as the index continues to regain its losses suffered post Brexit. Brent oil is +1.50% at the time of writing at $47.41/bbl. Markets in the US are trading positively with the Dow Jones +0.31% and the S&P 500 +0.50%.