|Day's Range||7,519.22 - 7,577.20|
|52 Week Range||6,536.50 - 7,790.20|
London markets drifted lower as the pound continued its descent and fresh trade war fears hit the FTSE 100.
Johnson Matthey on Wednesday lowered the profit outlook for its largest unit that makes pollution filters for cars and trucks and announced the departure of the unit's head, sending its shares down more than 3%. Shares of the FTSE 100 company was the biggest loser on London's blue-chip index. The moves follow scrutiny of Johnson Matthey's catalytic filters for trucks, which have been linked to emission issues at truckmakers Volvo and Cummins.
This month, the UN estimated that climate disasters are happening at the rate of one a week. In October, the Intergovernmental Panel on Climate Change said we had 12 years to hold global warming to 1.5C above pre-industrial levels. Aviva measured investments in its equities portfolios against the goals of the 2015 Paris agreement (limiting the rise to 2C) and found they are on track for a 3.4C rise.
U.S. equity futures edged higher, potentially lifting Wall Street to fresh record peaks again Wednesday, as investors await the first of six major tech sector earnings reports later today that could make-or-break the recent stock market rally.
The U.S. retail sales are much stronger than expected and point to economic stability, not interest rate cuts.
London markets climbed on Tuesday as the pound continued to tumble on Brexit concerns despite strong U.K. wages growth.
The U.K. labor picture remained strong in May, according to data released Tuesdayby the Office for National Statistics. Weekly earnings in the 3 months ending May rose 3.6%, the strongest rise since July 2008. The unemployment rate meanwhile stayed at 3.8%, matching the lowest level since 1974.
British fashion brand Burberry's shares jumped on Tuesday, lifting other luxury goods makers, while upbeat earnings from big Wall Street banks spurred gains for the region's lenders, driving major European markets to their highest closing levels in a week. Burberry's shares surged 14.4%, their biggest one-day gain in 7 years, as quarterly results showed demand for new designs by creative chief Riccardo Tisci picking up. Upscale retailers in Europe, including Hermes, Louis Vuitton owner LVMH and Gucci parent Kering , rose between 0.4% and 2%, helping France's CAC 40 index outperform its European peers with a 0.65% gain.
Irish building materials supplier CRH announced it will sell its European distribution business to private equity funds managed by Blackstone. The European business, which supplies roof tiles, sanitary heating and plumbing to a network of builders, will be sold for €1.64bn, including net debt. Proceeds will be used for future acquisitions and to fund the FTSE 100 company’s share buyback programme, according to the company.
U.S. equity futures were little-changed in early Tuesday trading as investors maintained their cautious stance on global stocks heading into the second quarter earnings season and keyed on June retail sales data for further clues on the direction of Federal Reserve interest rates.
It’s a big week ahead, with key stats, corporate earnings, and geopolitical risk to provide the majors with direction through the week.
London stocks continued to rally on Friday as the heightened prospect of Federal Reserve rate cuts swept optimism across global markets.
European markets edged higher on further signs of a Federal Reserve rate cut but the DAX struggled after a damaging profit warning from German car giant Daimler.
U.S. equity futures extended gains Friday, following on from record high closes for both the Dow and the S&P; 500 last night, as investors continue to expect interest rate support from the Federal Reserve while betting on underlying strength of the domestic economy.
The CBI needs to champion smaller, more entrepreneurial companies to shake off a reputation as “the voice of big British business”, according to Karan Bilimoria, the chairman of Cobra Beer who is lined up to be president of the UK’s largest employer organisation. Lord Bilimoria was appointed vice-president of the CBI last month, and will take over as president when John Allan, Tesco chairman, steps down in a year’s time.
London markets pared gains after the Federal Reserve chair Jerome Powell’s dovish comments failed to significantly support the FTSE 100.
European markets rose after Federal Reserve chair Jerome Powell’s dovish comments but were held back after the U.S. became embroiled in a spat with France over digital tax plans.
U.S stocks look set to open at fresh record highs Thursday as investors extend their market reaction to Federal Reserve Chairman Jerome Powell's testimony on Capitol Hill yesterday that rekindled hopes of deeper near-term rate cuts.