Daily Market Review – Friday 11th August 2017 | Avem Capital
Market sell-off continues. FTSE 100 fell 1.08% to close at 7,309.96. It is down 2.75% for the week. But take note that US stocks are trading in green after the tame inflation data.
Investors are closely watching the political tensions between US and North Korea. China gave a strong message that if North Korea attacks US first it will stay neutral, but if the US attacks North Korea first and tries to overthrow North Korean government China will stop them.
German Consumer Price index rose 0.4% in July when compared to previous month was in-line with analyst estimates. On an annual basis it rose 1.7%. HICP (harmonized to compare with other European countries) rose 0.4% in July on m-o-m basis and 1.5% on an annual basis.
French HICP fell 0.4% in July from previous month and down 0.8% on an annual basis. Both monthly and yearly figures were in line with estimates.
US CPI rose 0.1% in July from June and came below the analyst forecast of 0.2% rise. Year-on-year increase was 1.7% in July and again below the analyst forecast of 1.8% rise. Core CPI which excludes volatile food and energy components rose 0.1% in the month of July and 1.7% on an annual basis. Though it matched the analyst estimates it is still below the FED target of 2%.
UK Stocks Friday 11th August
Old Mutual plc (LON: OML) released first half interim results. Revenue rose 45% to £10.82 billion and profits rose 60% to £679m. It increased dividends by 32% to 3.53p.
AIM listed digital media and events company Vitesse Media PLC (LON: VIS) announced the results for 14 months ending March 2017 (since they shifted the year end from Jan 31 to Mar 31). Revenue rose to £2.7 million from £2.1 million (2016) mainly due to the growth in events revenue. Stock closed up 39.20%.
UK Indices Friday 11th August
Indices Closed Indices Open Hong Kong 26883.51 -2.04% S&P 500 2444.16 0.25% Nikkei 225 Holiday Nasdaq 6252.37 0.57% Shanghai 3208.54 -1.63% Dow 21886.16 0.19% CAC 40 5060.92 -1.06% DAX 12014.06 0.00% Currencies Commodities EUR/USD 1.1814 0.36% Brent Crude $51.73 -0.33% GBP/USD 1.3006 0.22% Gold $1293.03 0.23% USD/YEN 109.025 -0.08%
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