Markets Round Up on 12th October 2017
Hi all, from to day we are switching from preparing a daily summary of the business news in one post to posting separate posts of the stories we think will be most relevant to our visitors in the UK SME sector.
Here is the market round up prepared on the morning of Thursday 12th October 2017.
Stock Markets
The UK markets traded within a narrow 30-point range yesterday as investors waited for the US Fed reserve minutes (FOMC) which were not released until 7pm in the evening. The FTSE 100 closed at 7533.80 down just 0.1% on the day and the FTSE 250 closed at 20,167.80 up just 0.1%. European shares were also flat with most markets treading water although German stocks edged up and the Euro Stoxx 50 climbed fractionally to 3607.39. The minutes from the September meeting gave an indication of a cautious trajectory of US interest rates over the coming months and should provide a catalyst for equity markets to continue on their record breaking run.
Movers on the UK market included Whitbread that continued its recent overperformance closing up 3.4% and NMC Health having received several upgrades since entering the top tier up over 3%.
The US markets responded positively to the FOMC minutes with all three indexes closing at records. The Dow closed up 0.18% at 22,872.89, the S&P 500 also uo 0.18% to 2555.24 and the NASDAQ up 0.25% to 6603.55.
Asia took it’s cue from the US markets with the Japanese Nikkei up 0.35%, the HK Hang Seng up 0.24% and the Chinese CSI 300 climbing 0.26%. The Korean Kospi jumped 0.68% to 2474.76, The Australian ASX up 0.39% and the Indian Nifty 50 is currently up over 1%
Currency
FX markets remained muted after the failed attempt of Catalunya to gain independence from Spain, however the dollar has dropped 1%. The pound is at 1.1168 Euros and $1.3237 US Dollars.
Commodities
Oil prices edged higher for a third day with WTI at $50.9 and Brent at $56.75 as OPEC said the market was gradually tightening after years of oversupply, but the outlook for 2018 was less certain. meanwhile US inventories rose.
Gold edged higher to $1294.65after Catalonia’s leader resisted from making a formal declaration of independence from Spain, sending the euro higher and the dollar down and the FOMC revealed low inflation concerns.
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Business News 11th October 2017
Business News 10th October 2017
Business News 9th October 2017
Business News 6th October 2017
Business News 5th October 2017
Business News 4th October 2017
Business News 3rd October 2017
Business News 2nd October 2017
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