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FTSE 100 closes higher
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GSK to close Bangladesh drug factory as part of restructuring
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US stocks are late after GDP figures
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top Footsie riser
FTSE Positively closed on Friday, above the level of 7,700 while stocks were lower.
Earlier, US GDP (gross domestic product) was up 4.1% between April and June 2018, slightly below consensus for 4.2%
The three US benchmarks are down at the time of writing these lines.
In London, the FTSE 100 added more than 38 points to finish at 7701, which was up on the week. Meanwhile, the midcap index, the FTSE 250 gained about 100 points to close at 20,868.
On the currency markets, the pound fell 0.09% to 1.251 against the Euro and near-flat – 0.01% up – against the US dollar
Ken Odeluga, market badyst at City Index, said: "The pound remained depressed on Friday after the denialist EU head, Michel Barnier, has rejected a central part of Theresa May's Brexit plan, making Brexit more and more likely, the red lines going beyond this impbade are almost impossible.A hard and messy Brexit seems to be the way forward and at $ 1.31, it is very likely that the pound is not yet rated, "he suggested.
The best winner on Footsie was the consumer goods group Reckitt Benckiser Group plc : RB), which jumped from 7.91% to 6.810p after results
The group reviewed up its revenue forecast for the year thanks to a strong increase in its formula baby milk
The manufacturer of condoms Durex, Vanish detergent and Airwick air fresheners, whose growth turnover is estimated at 14-15% this year, are up 13 to 14%.
Reckitt provided the update along with its quarterly and half-yearly figures. A strong set of () figures was not enough to appeal to badysts who remain skeptical about the UK housing market: it was the biggest loser in the FTSE 100 index, losing 3.10% to 4934p . solid business, but until it can demonstrate accelerated growth of ARPA (average revenue per user) via new services, which can be difficult in a muted market for agents Real estate, we believe that valuation is at fair levels where it currently stands, "said broker Liberum
15:45: GlaxoSmithKline will close its drug plant in Bangladesh by the end of the year. year. 100 pharma giant () will close its drug manufacturing operations in Bangladesh by the end of the year.
The company's pharmaceutical business has experienced sluggish growth in recent years, making it a prime target for a restructuring program. Nakibur Rahman, general manager of GSK's Bangladesh unit, said that during the closure of the plant, the company would continue its profitable business in the field of consumer health in the country .
GSK's shares were up 0.7% to 1,548.4p
The FTSE 100 was up 45 points to 7705.
2:40 pm: Wall Street opens up higher with Nasdaq gains first
US stocks open to the fore Friday morning, after a strong performance in the second quarter, GDP and strong earnings from several companies strengthened sentiment.
Nasdaq leads all major indexes, up 31 points to 7,882 after posting solid quarterly results. The retail giant Inc. (), which posted a record profit of 2.5 billion US dollars for the period.
Meanwhile, the Dow Jones Industrial Average was up 24 points to 25,548, while the S & P 500 was up 2.5 points to 2,839. 19659015] Second quarter GDP data also show that the US economy grew 4.2% over the period, which, despite badysts' missing forecasts of 4.2%, remains the pace of fastest growth in almost four years. After a slight dip in growth in the United States
US stock index futures fell slightly, and the dollar briefly broke some of its gains after second-quarter growth data was weaker than planned. April one in June 2018, slightly below the consensus for 4.2%, and well below the high forecast of 5%
However, the data still show that the US economy is progressing at a steady pace, which can keep the future expectations of the market intact. Naeem Aslam, Chief Market Analyst at Think Markets UK Ltd, said "US GDP data is strong, but traders are not convinced that they will stay on the front burner." [19659011Headded"WethinktheFedshouldtakethisfigurecloserbeforemakingitsdecisionnextweekButlookingatthenumbertodaytradersareconfidentthatthepossibilityofonemorerateissolidbuttworatehikesforthisyeararestillunderaquestionmark"
Despite the slight oscillation of US futures, the FTSE 100 index remained solid, up about 46 points to 7709, just below the peak of 7,711.14
12:00 pm: FTSE 100 inches more than 7,700 in the late morning
In early '99 afternoon, the FTSE 100 the level of 7,700 once more as a performing index and a suppressed book a cond from the stocks up.
Due to a series of miserable news Brexit, the pound sterling was heading towards its third consecutive weekly decline, with the rejection of the Customs Plan Joslin Mahony, market badyst at IG, commented: "The Brexit Plan Theresa May seems to be in tatters, as her battle with Brexiteers in her own rank proves He added: "It is becoming increasingly clear that the EU sees this as a hard Brexit, or not at all, with their insistence that the United Kingdom can not choose which means that the possibility of obtaining a more "flexible" Brexit would also imply free movement of workers and compliance with European regulations. "
However, one of the winners of the day was the FTSE 100 PLC (), Revised revenue forecasts pushed up its stock by 7.8% to 6807p, taking the blue index. chips with him
closely followed by minor BHP Billiton, whose shares were up 3.2% at 1726.6p at lunch time. "Mahony said," It's worth noting that despite the fall of BP's shares in the early exchanges, it's a boon to one of the many companies that have sought to gain ground He added: "The difficult period of 2015-2017 low prices of oil also benefits these new badets of BP, with efficiencies that have been improved.It is necessary to make at that time the meaning of a light and efficient operation that should prove very profitable now that crude prices recovered. "
BP shares rose 0.2% to 565.6p. The UK government has announced that it will terminate contracts with private companies such as PLC () for the establishment of probation services in England and Wales.
David Gauke, UK Justice Secretary, said the outsourcing contracts would end two years earlier in 2020, without any compensation being paid to the policyholders. [19659015] The Department of Justice said it expects the total amount of contracts to reach £ 2.2 billion over the term of the contracts, including a stabilization package of 170 millions of pounds, although this figure is lower than the originally planned 3.7 billion. This result will justify opponents of partial privatization, which was introduced by the then Secretary of Justice, Chris Grayling, in 2015, while posting a new shift in the UK government's position on the issue. Outsourcing after the collapse this year. In the late morning, the shares of major outsourcing companies and Capita dropped 3.5% to 68.1p and 1.2% to 163.2p.
The FTSE 100 climbed 36%. peaks at 7,699.
11:00: China will inject funds into infrastructure to soften the economic shock of the trade war
A report from Reuters indicates that the Chinese government plans to Invest more money in infrastructure projects and relax local governments to help reduce the impact of its trade war with the United States.
Reuters sources familiar with the policy said that the amount of infrastructure will depend on how the trade war develops. Beijing has already expressed concern that a sharp slowdown in Chinese economic growth could fuel job losses.
However, the plan contrasts with earlier statements that the Chinese government had ruled out another stimulus package after injecting 4 RMB in 2008-09. This helped protect the country from the global financial meltdown but left local governments and public enterprises in debt with mbadive debts.
The Chinese economy has already felt a contraction as the Beijing government pushes for deleveraging.
10:15 AM: Dollar Reaches Five-Day High Against US GDP, Pound Sterling on Track for Third Weekly Decline [19659007] Greenback Reaches Five-Day High investors expected second-quarter surprises for US GDP.
The strong dollar was a bit irritating for US President Donald Trump.
However, the currency has come close to an annual high of about 0.768 pound sterling against the pound sterling, which is currently trading at 0.763 pound sterling.
On the other side of the Atlantic, the pound sterling was headed for its third consecutive weekly loss as the Brexit continued to weigh on its outlook.
The rejection of key elements of Britain's Brexit trade proposals by EU chief negotiator Michel Barnier, among others The pressure on the pound sterling, which was Friday in the mid-morning was 1.31 US dollar, close to its 2018 low around US $ 1.30 that it reached last week.
Meanwhile, the FTSE 100 maintained its earnings A survey of professional forecasters by the European Central Bank (ECB) revealed that inflation in the euro area could accelerate faster than initially expected, underpinning its decision [19659011] The survey showed that overall inflation in the currency bloc was seen at 1.7% this year, above a previous projection of 1.5%, the rate of next year also rising from 1.6% to 1.7%. 19659015] The ECB aims to keep inflation at just under 2%, as the data from the survey justified its decision to stay the course at its meeting yesterday after deciding to cut back stimulus measures in June.
in the short-term block, reducing its 2018 growth projection to 2.2% from 2.4% while the 2019 forecast was reduced to 1.9% by 2%.
In the early morning, the euro was relatively unchanged at 0.8875 pounds. ] The FTSE 1 00 had slowed since starting earlier in the morning, up 15 points 7,678.
8:45: Footsie pushes higher
The FTSE 100 took a positive start, up 35 points at 7,698.05 an unusually busy Friday.
The sentiment could be shaped later by US GDP figures, which will provide us with more details about the state's largest economy in the world.
Meanwhile, investors have had a lot of choices. The main one of them was (), whose share climbed 5% after the household products giant increased its revenue forecast after a strong half year.
Pearson () posted earnings-led growth of 3.5% ahead, while miner BHP Billiton () rose 3.3% after releasing its oil badets to BP (nearly $ 11 billion). US dollars).
The owner of the hated Rightmove () real estate website was about 2% in the first 40 minutes.
Proactive News Headlines:
() told investors that it is one of two companies that have been invited to bid again for a project. methane and coal fueled energy in Botswana. A meeting is currently scheduled with the Government of Botswana on 9 August, before the submission deadline of 12 September.
() obtained a program design contract to deliver its Driver Monitoring System (DMS) in partnership with a Chinese Level 1 (OEM) original equipment manufacturer.
Energy PLC () has announced the appointment of James Dewar as the company's new interim president. "James is a recognized expert in the field of corporate governance, finance, accounting and control, with extensive experience in the industry, and we are delighted that James has agreed to work with him." Scott Aitken
PLC () purchased a car dealership in the Shrewsbury area for £ 1.67 mln, with an initial yield of 6.75%
PLC (), the revolving infrastructure fund, saw its net badet value (NAV) per share rose from 2.9p to 114.1p in the first half of 2018.
Premier African Minerals PLC () has identified four alternatives to restart its RHA tungsten mine at Zimbabwe.
LC () (OTC: KDNCY) is pleased to note that Auroch Minerals Gold Company () has obtained approval to launch an inaugural drilling program at its Arden base. Meta ls Project in South Australia. Cadence currently holds approximately 7% stake in Auroch Minerals.
() announced that from now on, its new counsel for the Mbeya Coal to Power Project (MCPP) will be Hogan Lovells International LLP. replace Norton Rose Fulbright (NRF). The company said after the senior partner responsible for the MCPP at NRF recently joined Hogan Lovells, the company decided to follow, to ensure continuity and stability in the ongoing sensitive legal work related to the MCPP PPA negotiations. Kibo also announced that an up-to-date corporate presentation is now available on the company's website .
6:45: Commercial Concerns Are Abandoned
The Footsie Should Open Higher This Morning While Investors Take A Break The IGF Index Expects The FTSE 100 Index To Increase from about 22 points to 7,685 after a rather sluggish end of trading on Thursday, where it closed at only 4 points The change in trade concerns follows the recent meeting between US President Donald Trump and the President of the Commission Jean-Claude Juncker on Wednesday, which has been seen by many as having somewhat diffuse commercial tensions However, Michael Hewson, chief markets badyst at CMC Markets UK, said that although the prospect of tariffs on EU car exports to the United States had declined, "it has not disappeared" Slowly ", adding that the market would rather turn to an escalation with China.
Far from business news, the market will turn to US economic growth data for the second quarter.
Economists predict a second quarter gross domestic product (GDP) increase of 4.2% over the previous three months or increase by 2.3% over the same period a year ago.
Trump will most likely take credit if GDP reaches such heights, with the economy expected to receive a boost from his tax cuts.
Trump promised to hit annual growth "much higher" than 3%, a level not seen in 14 years. Regarding the reading of the GDP, Hewson said: "There is a wide range of estimates around the intermediate number of GDP in the second quarter of today ranging from 3.5% to 5%, with market prices something in the region of 4.1% .With the strength of the US job market, stimulating effects of the January tax cuts and the Increase in consumer spending in the United States, there is an argument for a figure of about 4.5% .If we get somewhere near here, then this should be positive for the US dollar, as markets continue to tighten.
He added: "On the other hand, the increase in trade tensions that has worried some US companies, as well as the growth relatively moderate wages and rising inflation due to high gasoline prices could slow down and bring us below 4%, which could put downward pressure on the US dollar.
Jones Industrial Average finished up 112 points to 25,527, while the S & P 500 closed down 8.6 points to 2,837. The Nasdaq was the biggest pullback, closing 80 points at 7,852 due to the defeat of social media giant Inc. () on the index.
In Asia today, the Japanese Nikkei 225 is up 72 points to 22,658, while the Hang Seng Hong Kong is down 54 points to 28,726. The rebound in Japan was driven primarily by technology stocks while Amazon's retail giant reported $ 2.5 billion in quarterly profits after the US close yesterday.
On the currency markets, the pound was relatively stable at 1.31 US dollar BT: let the investors "blind" with the update of Friday
PLC () will announce Friday its first quarter results without disclosing net new customers in broadband The telecoms giant's new report on Key Performance Indicators (KPIs) will divert attention from volume-based subscriber metrics to the value generated by each customer.
Analysts at RBC Capital Markets have accused the company of trying to hide bad news, adding that the omission of broadband Internet and mobile networks is likely to drive the market to " suppose the worst ".
"While we understand the desire to move away from" net additions "like the marketplace." The fact of not disclosing such important measures can cause concern, given the widely shared view of skeptics that companies tend to hide the bad news.In fact, a reduced disclosure often, in our opinion, bodes poorly for future operational performance, "said RBC, suggesting that investors would remain" blind. "
Important announcements are expected on Friday, July 27:
Negotiations Update: PLC (Q1) (), ()
Interims : PLC (), PLC (), (), (), PLC Group (), Hutchison China Meditech Ltd (), PLC (), PLC ()
AGA: [19659084] PLC (), Utilities United States (LON: UU)
Economic data: United States GDP in the second quarter
Around the markets:
• British Pound: $ 1,3105, unchanged
• Gold: $ 1,223.9 US an ounce, up 0.14%
• Brent Brent: US $ 74.25 a barrel, down 0.39%
City Times:
• Financial Times: stocks lost more than $ 120 billion Thursday after the social media giant on the financial perspectives of the company and the confidentiality of the data.
• The Times: Amazon announced its first quarterly profit of more than $ 2 billion last night as growing demand for cloud computing allowed Amazon Web Services, in full growth, to record its first profit of 39, operating above $ 1 billion.
• The Daily Telegraph: Discussions between the US and the EU have done little to allay concerns about the future of Trump's trade policy, the experts warned.
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