Tag: UK Report
FTSE 100 gained 0.6% or 33.2 points to 5,795.9.
by Greg Secker on Mar.24, 2011, under Greg's Blogs
UK Report 24th March 2011
UK markets closed higher yesterday, led by gains in miners and oil producers, after minutes from the recent Bank of England meeting revealed that policy makers voted 6-3 to keep interest rates on hold. Miners, Kazakhmys, Antofagasta and Vedanta Resource, climbed between 0.7% and 4.5%, as base metal prices soared, while precious metal miners, Fresnillo, Randgold Resources and Lonmin, also paced gains, as silver, gold and platinum prices rose. Homebuilders, Redrow, Barratt Developments and Taylor Wimpey, rose between 2.5% to 3.3%, receiving a boost from the budget statement that aimed at helping first-time buyers. However, gains were restricted by losses in retailers and banks, following Osborne’s statement that the UK economy would grow more slowly than forecast in 2011. FTSE 100 gained 0.6% or 33.2 points to 5,795.9. FTSE 250 added 0.1% or 5.8 points to 11,447.4.
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.
FTSE 100 dropped 1.4% or 80.0 points to 5,695.3.
by Greg Secker on Mar.16, 2011, under Greg's Blogs
UK Report 16th March
UK markets closed lower yesterday, with the FTSE 100 index falling to its lowest closing level in fifteen weeks, as rising fears over nuclear crisis in Japan, following a third explosion at the Fukushima reactor, sparked a broad sell-off in the market. Miners, ENRC, Antofagasta and Xstrata, dropped between 0.3% and 3.5%, in line with the fall in base metal prices. Oil producers, Essar Energy, Petrofac and BG Group, declined between 0.3% and 3.6%, as crude oil prices fell. Banks, Standard Chartered, HSBC and Lloyds Banking Group, fell between 0.4% and 1.6%, as risk aversion increased among investors. Travel stocks, International Consolidated Airlines Group and TUI Travel, lost 4.0% and 1.7% respectively, amid worries that earthquake in the Asia Pacific region and civil unrest in Africa and the Middle East region would crimp their revenues. FTSE 100 dropped 1.4% or 80.0 points to 5,695.3. FTSE 250 fell 1.8% or 198.4 points to 11,151.2.
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.
FTSE 100 rose marginally to 5,974.8.
by Greg Secker on Mar.09, 2011, under Greg's Blogs
UK Report 9th March 2011
UK markets closed flat yesterday, as losses in miners and oil producers were offset by gains in telecom and financial stocks. Precious metal miners, Randgold Resources, African Barrick Gold and Fresnillo, declined between 1.9% and 8.2%, as gold and silver prices fell, while other miners, Kazakhmys, Xstrata and Anglo American, also paced declines. Oil producers, Tullow Oil, Petrofac and BP, declined between 0.7% and 2.2%, as crude oil price eased. However, telecom stocks, Vodafone and BT Group, climbed 1.8% and 4.0%, respectively, as Morgan Stanley upgraded both the stocks to “Overweight” and took a positive stance on the sector. Financial stocks traded higher, with Old Mutual up 3.3%, after the company reported a 14% rise in its profit, helped by new business sales growth and cost savings. FTSE 100 rose marginally to 5,974.8. FTSE 250 ended slightly lower, at 11,743.5.
