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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/dec/29/uk-counts-flood-costs-markets-watch-volatile-oil-business-live
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| FTSE climbs as oil price stabilises - business live | FTSE climbs as oil price stabilises - business live |
| (34 minutes later) | |
| 9.48am GMT09:48 | |
| As Britain’s big banks carry on with long task of patching up their reputations, they have new report cards to pore over from the body set up to improve standards in the wake of the Libor-rigging crisis. | |
| Dame Colette Bowe, chair of the Banking Standards Board (BSB), has likened the assessments of the behaviour and culture inside the major banks to the reports delivered by auditors, which are signed off by the partner at the accountancy firm which has assessed their books and is included in their annual reports. The BSB will publish its own annual report in the spring. | |
| The first such set of report cards have been sent to the founder members: Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland, Santander and Standard Chartered and Nationwide Building Society. | |
| There is also talk of making bankers swear an hippocratic oath in the way that doctors do but that seems to be some way off. | |
| My colleagues Jill Treanor and Larry Elliott have the full story: | |
| Related: UK banks receive first report cards from Banking Standards Board | |
| 9.14am GMT09:14 | 9.14am GMT09:14 |
| It looks like it was a very merry Christmas for Fitbit, the US-listed maker of wearable health monitors. Reports that its app topped download charts on 25 December suggest plenty of people were unwrapping new gadgets from the firm on Christmas day and that helped lift its shares on Monday. They closed up 3.3%. | It looks like it was a very merry Christmas for Fitbit, the US-listed maker of wearable health monitors. Reports that its app topped download charts on 25 December suggest plenty of people were unwrapping new gadgets from the firm on Christmas day and that helped lift its shares on Monday. They closed up 3.3%. |
| Back in November, Fitbit reported a 168% surge in revenues in its third-quarter earnings report. | Back in November, Fitbit reported a 168% surge in revenues in its third-quarter earnings report. |
| In the UK, department store chain John Lewis recently highlighted Fitbits as it reported record Black Friday sales. Overall sales of wearable technology such as fitness monitors up 850%. Sales of Fitbit trackers were up 1,200%. | In the UK, department store chain John Lewis recently highlighted Fitbits as it reported record Black Friday sales. Overall sales of wearable technology such as fitness monitors up 850%. Sales of Fitbit trackers were up 1,200%. |
| Puts a whole new spin on new year’s healthy living resolutions when your wristband can tell you when you are cheating... | Puts a whole new spin on new year’s healthy living resolutions when your wristband can tell you when you are cheating... |
| 8.43am GMT08:43 | 8.43am GMT08:43 |
| Markets update: Oil steadies, FTSE bobs around unchanged mark | Markets update: Oil steadies, FTSE bobs around unchanged mark |
| After its little Christmas break the FTSE 100 has re-opened this morning and struggling to find some direction. The bluechip index of London-listed shares is up around 8 points, that’s just 0.1%, at 6263. | After its little Christmas break the FTSE 100 has re-opened this morning and struggling to find some direction. The bluechip index of London-listed shares is up around 8 points, that’s just 0.1%, at 6263. |
| That is down around 5% from where the index started 2015 at 6,566. With a sharp sell-off in global commodities, from copper to oil, providing much of the FTSE’s direction this year, it had climbed to a 2015 high of 7122.7 on 27 April but hit a low for 2015 of 5768.2 on 24 August. The index’s average level for the year is 6,592.6, according to Thomson Reuters. | That is down around 5% from where the index started 2015 at 6,566. With a sharp sell-off in global commodities, from copper to oil, providing much of the FTSE’s direction this year, it had climbed to a 2015 high of 7122.7 on 27 April but hit a low for 2015 of 5768.2 on 24 August. The index’s average level for the year is 6,592.6, according to Thomson Reuters. |
| Here’s how the FTSE looks for the year: | Here’s how the FTSE looks for the year: |
| Oil prices meanwhile look set for further falls after already plunging this year. Brent crude shed another 1.3% on Monday but this morning the price per barrel has edged back up 0.5% to $36.8 with traders citing colder temperatures in Europe as boosting demand prospects. | Oil prices meanwhile look set for further falls after already plunging this year. Brent crude shed another 1.3% on Monday but this morning the price per barrel has edged back up 0.5% to $36.8 with traders citing colder temperatures in Europe as boosting demand prospects. |
| Brent crude in 2015: | Brent crude in 2015: |
| Elsewhere, Asian stock markets edged up overnight on the steadier oil price, there is a small boost to European stock markets from firmer financial stocks this morning and copper prices are falling again. | Elsewhere, Asian stock markets edged up overnight on the steadier oil price, there is a small boost to European stock markets from firmer financial stocks this morning and copper prices are falling again. |
| 8.06am GMT08:06 | 8.06am GMT08:06 |
| Introduction: Floods impact, FTSE re-opens | Introduction: Floods impact, FTSE re-opens |
| Good morning and welcome back to our live blog covering financial markets and business and economics news from around the UK and the world. | Good morning and welcome back to our live blog covering financial markets and business and economics news from around the UK and the world. |
| As the north of England and Scotland brace for the arrival of yet another storm later, towns, households and businesses are counting the cost of the flood damage so far. | As the north of England and Scotland brace for the arrival of yet another storm later, towns, households and businesses are counting the cost of the flood damage so far. |
| The morning newspapers put varying figures on the devastation, citing estimates from insurers, accountants and economists. | The morning newspapers put varying figures on the devastation, citing estimates from insurers, accountants and economists. |
| Here is our own main story overnight that the cost of the winter floods across the UK will breach £5bn, with about a fifth of the bill falling on those with inadequate or non-existent insurance policies. | Here is our own main story overnight that the cost of the winter floods across the UK will breach £5bn, with about a fifth of the bill falling on those with inadequate or non-existent insurance policies. |
| That’s according to accountants at KPMG, who warn the insurance policies of many of the worst hit would not cover the full losses. Here’s the full story: | That’s according to accountants at KPMG, who warn the insurance policies of many of the worst hit would not cover the full losses. Here’s the full story: |
| Related: PM defends government spending as cost of floods set to top £5bn | Related: PM defends government spending as cost of floods set to top £5bn |
| As pressure mounts on the UK government over its spending on flood defences, the Mirror condemns a “£6bn Floods Shambles”: | As pressure mounts on the UK government over its spending on flood defences, the Mirror condemns a “£6bn Floods Shambles”: |
| MIRROR: Dam you, Cam #tomorrowspaperstoday #bbcpapers pic.twitter.com/h5XkjCveyA | MIRROR: Dam you, Cam #tomorrowspaperstoday #bbcpapers pic.twitter.com/h5XkjCveyA |
| The i newspaper goes with the £5bn figure and like others, highlights pressure on prime minister David Cameron: | The i newspaper goes with the £5bn figure and like others, highlights pressure on prime minister David Cameron: |
| THE I PAPER: Flood victims facing ruin turn on the PM #tomorrowspaperstoday #bbcpapers pic.twitter.com/vAFZhLr5s1 | THE I PAPER: Flood victims facing ruin turn on the PM #tomorrowspaperstoday #bbcpapers pic.twitter.com/vAFZhLr5s1 |
| We’ll be following updates on the expected economic impact of the storms throughout the day. | We’ll be following updates on the expected economic impact of the storms throughout the day. |
| Also on the agenda, the FTSE 100 re-opens after the Christmas break and it is looking like the bluechip index will end the year pretty close to where it started it, after gains in the first half were wiped out by losses for heavyweight commodity-related stocks since the summer. The FTSE 100 has just opened up 0.1%. | Also on the agenda, the FTSE 100 re-opens after the Christmas break and it is looking like the bluechip index will end the year pretty close to where it started it, after gains in the first half were wiped out by losses for heavyweight commodity-related stocks since the summer. The FTSE 100 has just opened up 0.1%. |
| After some choppy trading sessions for global oil prices, Brent Crude is fairly flat this morning, at $36.7, and its movements today will again be providing some direction to stock markets. It’s worth keeping in mind that thin holiday trading could make for some volatile moves. | After some choppy trading sessions for global oil prices, Brent Crude is fairly flat this morning, at $36.7, and its movements today will again be providing some direction to stock markets. It’s worth keeping in mind that thin holiday trading could make for some volatile moves. |
| We will also be keeping an eye out for updates from retailers as they tot up takings from the all-important Christmas shopping and sales season. | We will also be keeping an eye out for updates from retailers as they tot up takings from the all-important Christmas shopping and sales season. |
| In the US later there are a handful economic releases: November’s trade balance (at 1.30pm GMT), October home prices from Standard & Poor’s/Case-Shiller (at 2pm GMT) and consumer confidence figures from the Conference Board (at 3pm GMT). | In the US later there are a handful economic releases: November’s trade balance (at 1.30pm GMT), October home prices from Standard & Poor’s/Case-Shiller (at 2pm GMT) and consumer confidence figures from the Conference Board (at 3pm GMT). |
| Updated at 9.38am GMT |