Today's Closing Update

US Stocks fell as fears over trade, oil and rates pressured investors sentiment suggesting that U.S. equities may not yet be in the clear following last week’s selloff.

 

European Stocks were mixed with investors weighing up geopolitical tensions and the U.S. Q3 earnings season, with the hope that strong corporate results might provide the next positive push for European stocks.

 

US retail sales rose by 0.1% in September to $509.0bn, according to the Census Bureau. The rise was weaker than market expectations for an improvement of 0.7%.

 

Bank of America reported a better-than-expected rise in quarterly profit, with the second-largest U.S. lender benefiting from cost cuts, while higher interest rates and loan growth helped offset weaker bond trading revenue. The bank posted earnings per share of 66 cents, a 43 percent increase from a year earlier

 

Schroders posted an increase in their third quarter assets, driven by institutional demand. The company, which are in talks with Lloyds Banking Group about a wealth management joint venture, have produced a 0.7% rise in third-quarter assets under management. The news comes despite the recent performance of assets managers being mixed due to the Brexit uncertainty and concerns of global trade and political tensions which are putting pressure on investor sentiment

 

Polymetal set out their expectations to beat its production target in 2018 despite a decline in gold and silver output in their third quarter of trading. The company said its gold sales in the three months to the end of September totalled 321,000 ounces, while silver sales stood at 5.3 million ounces. For the same period in the prior year gold sales were 363,000 ounces and silver sales 5.8 million.

 

Sears, the US department store chain that once dominated America’s shopping malls, has filed for bankruptcy. Sears Holdings – which also owns Kmart – filed for Chapter 11 bankruptcy protection on Monday.

 

Oil Prices jumped as rising tensions between the US and Saudi Arabia over the disappearance of Washington Post contributor Jamal Khashoggi sparked supply worries.

 

Gold Prices maintained their positive gains scoring a 10-week high in early U.S. trading, due to growing safe-haven demand.

Market Close

Market Index Change % Change
UK 100 7,029.2 +33.3 +0.5
UK 250 18,803.5 -170 -0.9%
GER 30 11,614.2 +90.4 +0.8%
FRA 40 5,095.1 -0.9 -0.0%
US 30 25,423.66 +83.67 +0.3%
US 500 2,764.97 -2.16 -0.1%
OIL (BRENT) 80.74 +0.31 +0.4%
GOLD 1,226.61 +9.56 +0.8%

UK Risers & Fallers

Company Price Change % Change
Randgold Resources 6082 +298 +5.2%
Paddy Power 6290 +275 +4.6%
TalkTalk 118.55 +4.8 +4.2%
BAE Systems 561.8 -22.4 -3.8%
Marks & Spencer 292.8 -5.7 -1.9%
Greencore 189.325 -18.4 -8.9%

Reported Economic Data

Time/Date Previous Forecast Outcome
1.30pm: U.S. Core Retail Sales m/m 0.3% 0.4% -0.1%
1.30pm: U.S. Retail Sales m/m 0.1% 0.7% 0.1%

 

 

 

Sources

 

 

https://www.express.co.uk/finance/city/1031679/Oil-prices-US-Saudi-Arabia-Donald-Trump-Jamal-Khashoggi

 

https://www.bbc.co.uk/news/business-45859722

 

https://www.cnbc.com/2018/10/15/bank-of-america-earnings-q3-2018.html

 

https://www.kitco.com/news/2018-10-15/Gold-Extends-Rally-Hits-10-Week-High.html

 

https://oilprice.com/Latest-Energy-News/World-News/GOM-Oil-And-Gas-Production-Rebounds-After-Michael.html

 

https://finance.yahoo.com/news/stocks-fall-retail-sales-disappoint-130601978.html

 

https://www.cnbc.com/2018/10/15/us-futures-point-to-a-triple-digit-fall-amid-saudi-arabia-tensions.html

 

https://www.proactiveinvestors.co.uk/companies/news/207079/schroders-posts-increase-in-third-quarter-assets-led-by-institutional-demand-207079.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/archive.html?&page=1

 

http://www.stockmarketwire.com/article/6167634/US-retail-sales-rise-by-a-disappointing-0-point-1pct-in-September.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1539605351302309900.html

 

 

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