Tag: Economy
FTSE 100 gained 0.4% or 22.0 points to 5,718.1
by Greg Secker on Mar.21, 2011, under Greg's Blogs
UK Report 21st March 2011
UK markets closed higher on Friday, as intervention by G7 countries to stabilise the yen, and reports that Libya called a cease-fire, boosted market sentiments. Utility stocks, National Grid, Scottish & Southern Energy and Centrica, climbed between 3.2% and 4.4%, after UK power regulator Ofgem announced a new framework of price controls and incentives for gas and electricity distribution. Travel stocks, TUI Travel and International Consolidated Airlines, gained 3.4% and 0.3%, respectively, as crude oil prices eased. Miners, Anglo American, Kazakhmys and Vedanta Resources, added between 0.1% and 1.5%, on the back of steady base metal prices, while precious metal miners, Fresnillo, African Barrick Gold and Lonmin, advanced between 0.1% and 1.6%, as silver, gold and platinum prices rose. FTSE 100 gained 0.4% to 5,718.1. FTSE 250 added 1.0% to 11,345.8.
At 0400 GMT today, the GBP is trading 0.1% lower against the USD at $1.6181, 0.1% higher against the EUR at €1.1661 and 0.1% lower against the JPY at ¥134.09.
by Greg Secker on Mar.10, 2011, under Greg's Blogs
UK Report 10th March 2011
UK markets closed lower yesterday, as Brent crude oil prices surged above $115 per barrel, after violence in Libya intensified, raising concerns over the pace of global economic recovery. Miners, BHP Billiton, Kazakhmys and ENRC, lost between 0.7% and 2.5%, in line with a fall in base metal prices. Oil producers also paced declines, with Tullow Oil, down 3.2%, after the company reported earnings updates that missed market expectations. Banks, Standard Chartered, Barclays and Lloyds Banking Group, dropped between 0.2% and 2.7%, as risk aversion increased among investors. Among other stocks, British American Tobacco and Hammerson fell 2.8% and 1.3%, respectively, after going ex-dividend. FTSE 100 dropped 0.6% or 37.5 points to 5,937.3. FTSE 250 fell 0.1% or 13.3 points to 11,730.2.
UK output still growing however pace cools off
by Greg Secker on Aug.03, 2010, under Greg's Blogs
UK Stock Market Report 3rd of August 2010
The FTSE 100 rose 139.09 points or 2.65% yesterday
Last month, in the UK, US and Eurozone manufacturing output continued to grow, even as China saw its first contraction in 16 months following a clampdown by the government on property speculation and tighter credit controls. A slowdown in export orders pulled the CIPS/Market UK manufacturing purchasing managers’ index (PMI) down by 30 basis points to 57.3 in July beating City forecasts of a drop to 57.0. Although the index remains comfortably above the 50 mark, the surging recovery seen until now is unlikely to be sustained, analysts said. Across the Atlantic, the US Institute for Supply Management’s manufacturing gauge fell from 56.2 to 55.5 last month. The drop followed a downward movement in broader US economic growth from 3.7 per cent in the first quarter to 2.4 per cent in Q2. Yesterday, sterling rose to a six-month high of $1.59 against the dollar in London, a rise of 2.36 cents, as investors bet growth in the UK would outpace that in the US which many economists fear is only months from slipping back into recession. The pound climbed to its strongest in nearly a month against the euro. The pound was also boosted by HSBC which yesterday reported a 121 per cent pre-tax profit rise to $11.1bn (£6.98bn) for the first six months of the year, providing evidence of a healthy banking sector – a key contributor to the UK economy.
Due of release today is the GBP Construction PMI.
UK poised to record its fastest growth rate in three years
by Greg Secker on Jul.23, 2010, under Greg's Blogs
UK Stock Market Report 23rd July 2010
The FTSE 100 closed up 99.17 points at 5,313.81,
Second-quarter GDP figures are expected to have recorded Britons fastest economic growth in three years between April and June, when they are released this morning. Much of the acceleration is likely to come from a rebound in industrial output, estimated to have by around 1.2 per cent in the three months to June. The services sector is also likely to have performed strongly. The London economy saw continued but slow growth in the second quarter, the London Chamber of Commerce and Industry said yesterday in its quarterly economic survey.
Figures from the Society of Motor Manufacturers and Traders show UK car production jumped 28.6 per cent last month compared to June 2009. Almost 118,000 cars were produced in June, marking the eighth month in a row that production increased.
The Asset Protection Agency, which insures some £230bn worth of risky assets held by Royal Bank of Scotland has indicated the UK taxpayer should make a healthy profit from an insurance scheme set up to handle billions of pounds worth of toxic bank assets. The Agency said in its annual report yesterday that the taxpayer should end up with a profit of £5bn from the scheme.
Due for release today:
EUR German IFO Business Climate 9.00am
GBP Prelim GDP q/q 9.30am
CAD Core CPI m/m 12.00pm
EUR Bank Stress test results TBC
