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U.K.. Shares of telecommunications company BT Group and maker Clearasil Reckitt Benckiser were pleased after the earnings reports, and BHP Billiton Ltd. signed a contract worth more than $ 10 billion to sell US badets.
How the markets moved
The FTSE 100
UKX, + 0.50%
closed up 0.5% at 7,701.31, driven by the telecommunications and basic materials sectors. On Thursday, the index rose less than 0.1%.
For the week, the London blue chip benchmark rose 0.3%, a third consecutive weekly gain.
The shares were "helped by another, albeit more manageable, positive news from some big heavyweights" "There is no further news about trade wars or tensions to be made Today's surface, "said the British blue-chip market on a positive note, wrote badysts at Accendo Markets, Mike van Dulken and Artjom Hatsaturjants.
The pound
GBPUSD, -0.0534%
is up, trading at $ 1.3116 vs. $ 1.3111 Thursday in New York, after the release of US economic data that included the first blow of Eye to the gross domestic product of the second quarter.
Investors juggled a new round of earnings reports and badessed an agreement between two FTSE 100 members – BHP Billiton and BP – with BP entering into an agreement to buy the bulk of BHP's US badets for 10, $ 5 billion. The shares of the BP oil producer have the third highest weighting on the benchmark, at 5.6%, according to data from FactSet.
The pound sterling has taken over $ 1.3100 in afternoon transactions, after the release of economic data from the United States. The world's largest economy grew by 4.1%, slightly below the average of four-year economists. After this report, the Consumer Confidence Index of the University of Michigan dropped in July to its lowest level in six months.
The Brexit blockade
The pound fell after Brexit chief negotiator Michel Barnier said on Thursday that his team rejected Britain's proposal to levy tariffs on behalf of Britain. # 39; EU. It was a major feature in a post-Brexit customs plan put forward by British Prime Minister Theresa May.
"As long as the EU and the UK remain on their red lines, going beyond this stalemate is 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 quoted, "said Ken Odeluga, market badyst at City Index.
" There will now be a two-week break until the negotiations on Brexit are starting over … and when they do, the countdown will be at the October deadline and "this should result in increased volatility in the pound we are moving towards the fall", a- he said.
Next week, the Bank of England will release its latest monetary policy decision, with markets expecting rates to rise by a quarter of a percentage point to 0.75%.
Inventory Development
Reckitt Benckiser Group PLC
RB., + 7.91%
jumped 7.9% after the maker of Clearasil, Vanish and other consumer goods brands posted an increase of 9, 5% of their pre-tax profits and increased their growth target.
BT Group PLC shares
BT.A, + 4.96%
climbed 5% as the telecom company reported pre-tax profit up 68% to 704 million pounds ($ 926.7 million) dollars) in the first quarter, and that she supported her year guidance
BHP Billiton shares
BLT, + 2.04%
climbed 2% after the company reached an agreement to sell most of its US onshore oil and gas unit for $ 10.5 billion dollars to get out of what has been a costly investment. BP's shares rose by 0.5%.
Pearson PLC
PSON, + 3.64%
grew 3.6% after the publisher of educational products supported its forecasts, underlying earnings and incomes rising in the first semester. But the company noted that it is still expecting a drop in its higher education activities in the United States due to market pressures.
Rightmove PLC shares
RMV, -3.10%
decreased by 3.1%. Stocks had risen earlier after growth in advertiser revenue and online traffic increased pre-tax earnings to £ 98.1 million ($ 128.6 million) despite an uncertain housing market in the UK.
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