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← Mid Week BUDGET Update Wednesday, 8 July 2015

Mid Week Market Moment: 13 October 2016

Posted on October 13, 2016 by The Editor

S e w e l l B r y d e n G u n n Mid Week Market Moment : 13 October 2016

MARMITE BREXIT PRICE INCREASE: You either love it or you hate it!

For more discussion about how the financial markets may affect your own personal or business financial situation, protection, pensions or investments, why not get in touch?: 01276 471083 OR sbgmail@btinternet.com

Here we go again..    of course we always knew – deep down – that this went on behind the scenes… This morning’s early news was dominated by rumours that one of the UK’s big retailers – TESCO – was having a major fight with one of its larger suppliers – UNILEVER – over their 10% price increase on their range of products supplied to Tesco – “due to Brexit and the weakening pound” – and had allegedly stopped taking in UNILEVER supplies – but now it is out in the open –  the likes of Tesco and other large retailers play hardball when it comes to negotiating prices with their suppliers – and it looks like they play even harder when it comes to resisting price increases being imposed on them by the larger corporates, a considerable number of whom trade internationally and most likely see such price conflicts in the UK as nothing more than necessary “regional discussions”.  

But didn’t someone mention that MARMITE – one of Unilever’s products – is made in the UK with ingredients sourced entirely from within the UK?! Very interesting… So the weaker pound buys less pounds now too! So should we expect consumer panic at the news of Marmite supplies in jeopardy? Should we be celebrating? Will we see a run on Marmite as people rush to stock up while they can? To be fair – it cannot be easy trying to come up with yet even more original reasons why the supplier in question should have another price increase this year as well as the one they had last year. Clearly Unilever were hoping not to have to endure yet another of the customary “flinches” they always get from the Head Office Buyers when confronted with the proposal of a planned price hike.  

And what of the other supermarket retailers? Probably keeping their heads down trying not to draw attention to an imminent price shift. Like the SBS who are quite happy for the SAS to get all the limelight so it can quietly get on with the job in relative obscurity: covert operations; the other supermarket retailers would no doubt rather TESCO “stole the show” on this one, leaving everyone else to quietly get on with the job in relative obscurity: trying to reposition prices on relatively high volume product lines but not too much as to attract unwanted consumer “attention”.

On a different note – the weaker pound GBP against the dollar has had an impact on fuel prices at the pump. While dollar USD prices may remain relatively stable – the weaker Sterling Dollar “Cable Rate” means everything bought in dollars is now more expensive to the UK buyer – and this includes Fuel. Most UK trading operations probably don’t hold much stock of anything – because that’s just tying up cash – so price fluctuations at source are felt much more quickly down the line. Since everything at some point has to be delivered – predominantly by road transport – fuel pricing is one factor that will affect the pricing of most other delivered goods pretty much straight away.

The international nature of many companies quoted on the London Stock Exchange and in particular within the FTSE 100 means that trading volumes and results when converted back into Sterling GBP for reporting purposes have shown good sterling performance – even though the underlying operations may not have seen sales and profit improvements on such a scale.

Back to Marmite – A survey of local supermarkets near our offices produced an unclear view of whether or not Marmite stocks were in jeopardy – well it wasn’t scientific in the first place – what was most surprising was how in general food prices have crept up and up and up – our personal favourite being the price of loose mushrooms – £3 approx. per kg – it is not that long ago that you could buy a good bit of chicken for that – while beef comes in at more like £13 per kg, cooked chicken pieces in a packet can cost £20 approx. per kg. For the record we found that a small 70g jar of Marmite cost about £1.00 – ie an eye-watering £14.30 per kg !

Some would argue that at a time when the family wage is already under pressure – another price increase – for what ever reason – is “a bridge too far” – Perhaps on this occasion, Tesco et al have the right idea.

Enjoy your food shopping!

    

If you have any questions please do not hesitate to contact us – we’ll be happy to discuss these with you.

============================================================

Guide to Market Information contained in some of our posts and publications

Inflation Target expected to stay in place: 2.0%  based on the Consumer Prices Index (CPI)

The Chancellor confirmed in his Budget Speech Wednesday 20th March 2013 that the 2% Inflation target for the Bank of England would stay in place.

The Government’s Inflation Target is announced each year by the Chancellor of the Exchequer in the annual Budget statement. The Bank of England Monetary Policy Committee has as one of its aims, the aim to set interest rates so that over- or under- inflation can be brought back to Inflation Target over a reasonable time period without creating undue instability in the economy. Inflation Target is not a permanently fixed level and may vary depending on prevailing economic and fiscal conditions.

KEY to Important Indeces:

RONIA – Repurchase Overnight Index Average Rate – Launched June 2011

Changes to Method of Calculating Inflation Measurement Index – March 2013

pmL Metal and Precious Metal Pricing used in Market Numbers 

lme3  – London Metal Exchange 3 months

[}{]  –   Denotes a Stock or Share of a FT Global 500 company

xd    –   Denotes a Stock or Share price quoted as ex-dividend

xc    –    Denotes a Stock or Share price quoted as ex scrip dividend

Please ensure you read and take note of the disclaimers mentioned here.

Whilst every effort is made to ensure accuracy of the above information, this cannot be guaranteed and cannot be relied upon to be free from errors, omissions or inaccuracies.

This information update is provided for convenience and interest only and is not intended nor does it constitute any form of regulated or other advice and no liability is accepted, nor does any information provided here constitute nor is it intended to be any form of invitation or solicitation or recommendation to buy sell or hold in any capacity and no liability is accepted. You should not use this update as a basis for making decisions.

SewellBrydenGunn (business name and trading style of SCM Finance) and or any of its members employees partners proprietorship or other stakeholders (we) from time to time may or may not have an interest in any items contracts stocks shares securities or other instruments mentioned here. For your own safety and convenience you should always assume that we may have an interest or position in any of the above and consequently you cannot rely on it to be impartial information.

You should confirm independently any information you wish to rely on to make any decisions – in any case you should seek and take appropriate and timely independent financial legal or other advice including full and proper discussions about the level of financial legal or other risk involved before deciding on any action transaction or inaction.

Past performance is not an indicator of future performance. The value of investments and any income from them can go down as well as up and you may get back less than originally invested.

“Secure” “investments” such as Cash on deposit, can provide relative safety to the amount invested or held in this way and can be expected to offer relatively low growth over the medium to long term. They cannot fall in actual value, but can fall in “real” value due to the effects of inflation.

At the other end of the risk scale, “Adventurous” investments (more volatile Equities – Stocks and Shares) carry a relatively much higher risk of capital loss but with the potential for relatively much higher capital growth over the medium to long term. They may be subject to a considerable level of fluctuation in capital value. They do not offer any guarantees.

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This entry was posted in Budget, Business Financial Planning, Chartered Financial Planner, Economics, Financial Planning, Independent Financial Advice, Inheritance Tax, Investments, Markets, Pensions, Retirement and tagged aldershot, article 50, bagshot, bagshot-ifa, Bank of England, Bank of England Base Rate, brexit, brexit vote, BUDGET, camberley, camberley-ifa, Care fees funding, certified, Chancellor's Budget, Chartered Financial Planner, chartered financial planners, consumer, cost of living, CPI, economy, EU, farnborough, Financial Advice, financial adviser ascot, financial adviser bagshot, financial adviser camberley, financial adviser guildford, financial adviser sunningdale, financial adviser windlesham, financial markets, financial planner, financial planning, frimley, FTSE, FTSE 100, FTSE All, FTSE All Share, gilt yield, gold price, guildford, hartley wi, Hartley Wintney, hedge fund, IFA, increase, Independent Financial Advice, Index, inheritance tax, investments, leaving the EU, libor, market, marmite, price, price increase, price inflation, RPI, Sainsbury, Silver, sunningdale, sunningdale ifa, tax allowances, Tesco, unilever, Windlesham, woking. Bookmark the permalink.
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