Central bank policy tightening, fears of a recession and the economic impact of the war in Ukraine are all expected to keep a lid on any significant advance in European stocks for the remainder of 2022, a Reuters poll found. "The ECB moving aggressively on monetary policy, especially when a growth slowdown is expected will weigh negatively on the region," said Philipp Lisibach, chief global strategist at Credit Suisse.
The introduction and elevation of the minimum wage has helped to reduce low pay.
Finally, after years as an embarrassing also-ran, the London stock market is enjoying, in relative terms at least, a moment in the sun. While the S&P 500 index, the best benchmark for Wall Street’s performance, has fallen by about 19pc so far this year, putting it within a whisker of official bear market territory, the FTSE 100 has risen – if only by about 1pc – since New Year’s Eve 2021.