Today's Closing Update

U.S. Stocks traded slightly higher as trade negotiations between the U.S. and Canada resumed.

 

European Stocks were mixed as investors continued to monitor corporate earnings and global trade developments.

 

The US economy grew at a faster pace than initially thought in the second quarter, according to revised figures. The Commerce Department’s second estimate for the April-June period put growth at an annualised 4.2%, slightly up from the previous figure of 4.1%.

 

Sterling shot higher after the EU’s chief Brexit negotiator Michel Barnier was reported to have said that he was prepared to give the UK a deal unlike with any other country.

 

Smurfit Kappa said the Venezuelan government has taken temporary control of its subsidiary business and detained two employees. The business of Smurfit Kappa Carton de Venezuela, or SKCV, will be under government control for the next 90 days following a number of allegations. These allegations were made after a two-day inspection of SKCV and are entirely refuted by Smurfit.

 

Facebook Inc is rolling out Watch video-streaming service worldwide, just over a year after its US launch. Facebook noted that it is expanding Ad Breaks program so more partners can make money from their videos, and it is offering new insights, tools and best practices for Pages in Creator Studio.

 

Oil Prices rose, supported by news of a fall in Iranian crude supplies as U.S. sanctions deter buyers, but gains were limited by evidence of a rise in U.S. inventories.

 

Gold Prices headed toward back-to-back declines, as a leading dollar index stabilized near a one-month low.

Market Close

Market Index Change % Change
UK 100 7,563.2 -54.0 -0.7%
UK 250 20,736.9 -112.4 -0.5%
GER 30 12,561.7 +34.3 +0.3%
FRA 40 5,501.3 +16.3 +0.3%
US 30 26,145.53 +81.51 +0.3%
US 500 2,912.64 +15.12 +0.5%
OIL (BRENT) 76.39 +0.44 +0.6%
GOLD 1,204.01 +3.01 +0.3%

UK Risers & Fallers

Company Price Change % Change
Micro Focus 1319.5 +37.5 +2.9%
Bunzl 2392 +67 +2.9%
Victrex 3219 +52 +1.6%
Tesco 249.9 -8.3 -3.2%
Standard Life Aberdeen 319.3 -10.3 -3.1%
Metro Bank 2792 -134 -4.6%

Reported Economic Data

Time/Date Previous Forecast Outcome
1.30pm: US Prelim GDP q/q 4.1% 4.0% 4.2%
3.00pm: US Crude Oil Inventories -5.8m -0.7m -2.6m

 

 

Sources

 

https://www.cnbc.com/2018/08/29/european-markets-canada-re-joins-us-mexico-trade-talks.html

 

https://www.cnbc.com/2018/08/29/us-markets-us-canada-trade-talks-in-focus.html

 

https://uk.reuters.com/article/us-global-oil/oil-higher-on-lower-iran-exports-rising-us-supply-idUKKCN1LE01H

 

https://www.marketwatch.com/story/gold-prices-deepen-retreat-as-dollar-stabilizes-2018-08-29

 

https://uk.webfg.com/news/fx/sterling-shoots-higher-as-barnier-suggests-unique-brexit-deal–3461378.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1535551654130796100.html

 

https://www.bbc.co.uk/news/business-45342189

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1535556408500939200.html

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