Today's Closing Update

US Stocks were mixed, as a selloff in technology shares from Apple Inc. to Amazon.com Inc. weighed on major indexes.

 

European shares closed higher, barring the UK100, after signs of progress with U.S. tax cuts and Brexit negotiations boosted sentiment.

 

Federal Reserve Chair Janet Yellen cemented expectations for a US interest rate hike in December with a rosy assessment of the domestic economy. The outgoing Fed leader, in prepared remarks ahead of what is likely to be her final appearance before Congress, also said that inflation will move toward the Fed’s 2% annual target.

 

The US is preparing further measures to punish North Korea’s latest launch of a new, longer range ballistic missile, President Donald Trump has said. “Additional major sanctions will be imposed on North Korea today. This situation will be handled!” he tweeted after telephoning Chinese President Xi Jinping The ballistic missile, which landed in the Sea of Japan, was launched at 1817 GMT Tuesday from Sain Ni in west-central North Korea, flying higher than any previous missile fired by the rogue communist state, according to the US Defence Department.

 

The US economy grew at an annualized pace of 3.3% in the July-September period, the Commerce Department, up from an initial estimate of 3%. The revised third-quarter pace is the fastest in three years More complete data showing larger business investment was the largest contributor to the upward revision. The US economy had expanded in the second quarter at a 3.1% annual rate.

 

Stagecoach Group said it welcomed the planned new direction for the UK rail network announced today by the country’s Secretary of State for Transport. The plan envisages a number of changes to franchises currently operated by Stagecoach, as well as other routes, as part of plans to deliver improved integration between train and track, the company said. Planned new arrangements include the introduction from 2020 of the East Coast Partnership, a joint venture between the public and private sector.

 

Oil prices slipped as doubts set in about Russia’s willingness to substantially extend a deal among some of the world’s biggest exporters to curb output to help tackle global oversupply and support prices.

 

Gold prices fell, as upbeat U.S. growth data prompted a recovery in the dollar and a bounce in U.S. Treasury yields

Market Close

Market Index Change % Change
UK 100 7,393.6 -67.1 -0.9%
UK 250 20,059.6 +33.4 +0.2%
GER 30 13,061.9 +2.3 +0.0%
FRA 40 5,398.1 +7.6 +0.1%
U.S. 30 23,886.10 +49.39 +0.2%
U.S. 500 2,621.6 -5.4 -0.2%
OIL (BRENT) 63.08 -0.53 -0.8%
GOLD 1,285.59 -8.39 -0.7%

UK Risers & Fallers

Company Price Change % Change
Ocado 365.35 +50 +16.2%
Next 4503 +189 +4.4%
Kingfisher 336.5 +13.5 +4.2%
Cineworld 558.75 -137.5 -19.8%
Randgold Resources 6915 -440 -6.0%
Sage Group 779 -31.5 -3.9%

Reported Economic Data

Time/Date Previous Forecast Outcome
All Day: Opec Meetings
10:30am: U.K. Net Lending to Individuals m/m 5.5bn 4.3bn 4.8bn
2:30pm: U.S. Prelim GDP q/q 3.0% 3.3% 3.3%
3:00pm: U.K. BOE Gov Carney Speaks
3:45pm: U.K. MPC Member Ramsden Speaks
4:00pm: U.S. Fed Chair Yellen Testifies
4:30pm: U.S. Crude Oil Inventories -1.9m -2.5m -3.4m

 

Sources

 

https://www.cnbc.com/2017/11/29/europe-markets-ftse-cac-dax-north-korea-missile-us-tax-bitcoin.html

 

https://in.reuters.com/article/us-global-oil/oil-slips-on-opec-deal-uncertainty-and-rising-u-s-inventories-idINKBN1DT0IW

 

https://uk.reuters.com/article/global-precious/precious-gold-price-slips-as-u-s-growth-data-supports-dollar-u-s-yields-idUKL3N1NZ3NG

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1511968214022167700.html

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1511969932502216600.html

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1511969281812197800.html

 

http://www.stockmarketwire.com/article/5761358/Stagecoach-Group-welcomes-UK-rail-review.html

 

https://www.bloomberg.com/news/articles/2017-11-28/asia-stocks-to-track-u-s-gains-shrug-off-missile-markets-wrap

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