Tag: BOE
FTSE 100 gained 1.4% or 81.2 points to 6,001.2
by Greg Secker on Feb.28, 2011, under Greg's Blogs
UK Stock Market Report 28th February 2011
UK markets closed higher on Friday, with the FTSE 100 index ending its five-day losing streak and closing above the 6,000 level, as concerns over the unrest in North Africa and the Middle East eased. Miners, Vedanta Resource, Kazakhmys and Xstrata, climbed between 1.7% and 4.1%, as base metal prices rose. Banks, HSBC, Standard Charter and Royal Bank of Scotland Group, gained between 0.1% and 2.4%, as risk appetite increased among investors. Among other stocks, Spectris and Rank Group surged 12.0% and 5.3% respectively, following their robust earnings updates, while British Sky Broadcasting Group rose 4.1%, on reports that News Corporation is close to an agreement with regulators about its bid to acquire the company. FTSE 100 gained 1.4% to 6,001.2. FTSE 250 advanced 1.8% to 11,609.0.
Defensive stocks, Imperial Tobacco, Unilever and British American Tobacco, gained between 1.0% and 3.5%, as investor sought less riskier assets
by Greg Secker on Feb.21, 2011, under Greg's Blogs
UK Stock Market Report 21st February 2011
UK markets closed mixed on Friday, as gains in retailers and defensive stocks were offset by losses in miners and banks. Retailers, Kingfisher, Next, and WM Morrison Supermarkets, climbed between 1.0% and 2.7%, as UK retail sales surged 1.9% in January, surpassing market expectations. Defensive stocks, Imperial Tobacco, Unilever and British American Tobacco, gained between 1.0% and 3.5%, as investor sought less riskier assets. However, miners, Rio Tinto, Vedanta Resource and Antofagasta, lost between 0.2% and 2.3%, after China’s central bank raised the ratio of reserves banks by 0.5% to curb inflation. Banks, Standard Chartered, HSBC and Royal Bank of Scotland, declined between 1.0% and 1.8%, as risk appetite decreased
among investors. FTSE 100 fell 0.1% or 4.4 points to 6,083.0. FTSE 250 gained marginally to close at 11,828.3.
FTSE 100 dropped 0.4% or 23.0 points to 6,037.1.
by Greg Secker on Feb.16, 2011, under Greg's Blogs
UK Stock Market Report 16th February 2011
UK markets closed lower yesterday, following broker downgrades, and after a report indicated that inflation accelerated to a two-year high in January. Miners, Antofagasta and ENRC, lost 3.9% and 1.5% respectively, as base metal prices slipped on concerns that further monetary tightening in China might affect base metal demand. Xstrata dropped 2.4%, after the company halted output at its Ulan mine in New South Wales, Australia. Precious metal miners, Fresnillo, Lonmin and African Barrick Gold, dropped between 0.8% and 2.8%, despite a rise in silver, platinum and gold prices. Shares of Cable & Wireless Worldwide, Inmarsat and Weir Group declined between 1.9% and 3.6%, suffering from brokers downgrades. However, losses were restricted by gains in some banks, with Barclays up 5.8%, after the company posted a 32% rise in its full-year earnings that surpassed market expectations. FTSE 100 dropped 0.4% to 6,037.1. FTSE 250 fell 0.7% to 11,749.7.
BP climbed 3.9%, on speculation that the company might avoid prosecution over the Gulf of Mexico oil spill
by Greg Secker on Sep.30, 2010, under Greg's Blogs
UK Stock Market Report 30th September 2010
FTSE 100 fell 0.2% to 5,569.3. FTSE 250 added 0.1% to 10,562.5.
UK markets closed mixed yesterday, as gains in stocks receiving upgrades from brokers were offset by losses in banks and drug makers. Carnival, Rolls- Royce Group, and Wolseley, gained between 1.8% and 6.4%, after a slew of brokers issued a positive note on these stocks. BP climbed 3.9%, on speculation that the company might avoid prosecution over the Gulf of Mexico oil spill. However, gains were offset by losses in banks, HSBC, Standard Charter and Royal Bank of Scotland, all down between 0.3% and 1.6%, on persisting worries about European sovereign debt crisis, after S&P took a negative stance on nationalised bank Anglo Irish. Investor sentiments were also hurt by a fall in UK mortgage lending. Drug makers, AstraZeneca, Shire and GlaxoSmithkline, dropped between 1.1% and 1.9%, after RBS downgraded the sector heavyweight AstraZeneca, citing current valuation parameters.
Due for release today GFK Consumer Confidence, Nationwide HPI, MPC Member Tucker Speaks, BOE Credit Conditions Survey, MPC Memper Fisher Speaks.
Government set to make up to £30bn from its emergency bailout of British banks
by Greg Secker on Aug.31, 2010, under Greg's Blogs
UK Stock Market Report 31st August 2010
The FTSE 100 rose +45.72 points or +0.89% on Friday to 5201.56
According to new research out today, the government is set to make almost £30bn from its emergency bailout of British banks. At the time of the bailout, some observers predicted the taxpayer would end up nursing losses of around £850bn. However, the Banker magazine says a combination of recovering profits, rising equity markets and fees charged on loans and guarantees will net the government a massive £30bn profit. British taxpayers are currently breaking even on their 83.2% holding in RBS and 41.3% shareholding in Lloyds Banking Group.
According to an estimate by the Centre for Economics and Business Research if the equity market rises in line with economic growth, the taxpayer is likely to see a paper profit of £19bn within five years. A further £8bn will be due from fees for loans, bond guarantees and the Asset Protection Scheme (APS). Lloyds paid £2.5bn to join the APS, even though it did not ultimately participate. In separate news the British Bankers’ Association said yesterday, the BoE needs to spell out to consumers what its powers to curb lending will mean for products such as mortgages. When it inherits the remit of City regulation from the FSA in 2 years’ time, the BoE will be tasked with macroprudential oversight of the banking system.
Due for release today is the GBP GfK Consumer Confidence, GBP Net Lending to Individuals m/m and the GBP Final Mortgage Approvals.
