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European shares slide despite Nasdaq record; German exports collapse – business live

European shares slide despite Nasdaq record; German exports collapse  – business live thumbnail

The outlook for UK jobs is the gloomiest in almost three decades, according to the latest employment survey by recruitment firm ManpowerGroup, writes my colleague Joanna Partridge.

It found that companies in all big sectors of the economy are more likely to cut jobs than to hire people over the next three months, from July to September, the weakest forecast since records began in 1992.

Related: UK jobs outlook gloomiest in nearly 30 years amid Covid-19 pandemic

Mark Harris, chief executive of mortgage broker SPF Private Clients, said the impact of the coronavirus pandemic had not yet been felt in that period.

The share of mortgages advanced to borrowers requiring a loan-to-value greater than 90% was 5.2%, an increase on the previous year, illustrating the level of demand for high LTV deals.

With lenders including Accord, Clydesdale and Virgin Money pulling out of the 90% LTV market this week owing to high demand, after only recently returning when physical valuations were once again allowed, there is clearly a need for the big lenders to commit to this market.

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