Today's Closing Update

U.S.Stocks were higher, but mixed messages from the Trump administration regarding trade put a lid on gains.

 

European Stocks edged into the black, rebounding after trade concerns caused a sharp sell-off for global markets in the previous session.

 

The British public’s expectations for inflation over the next 5-10 years have risen to their joint-highest level since December 2013, and shorter-term price expectations are also on the rise, a monthly Citigroup/YouGov survey showed today. Citi said Britons’ longer-term inflation expectations rose to 3.3% this month from 3.2% in May, matching a four-year high struck in December 2017.

 

Carpetright swung to an annual pre-tax loss as higher costs driven by its turnaround strategy weighed, and tough trading conditions held back sales. The company also said that trading in the first eight weeks of the new financial year was impacted by group’s efforts to restructure operations as some suppliers had withdrawn supply, and exceptionally warm weather had hurt performance.

 

Consumer goods group Reckitt Benckiser said it had appointed PepsiCo chief scientific officer Mehmood Khan as a new director. Khan’s appointed would take effect on 1 July.

 

Volkswagen plans to shut its main Wolfsburg factory for 1-2 days a week between August and the end of September to deal with problems caused by new engine emissions tests, the German carmaker told employees today.

 

Oil Prices rose, supported by production losses in Canada, Libya and from the Neutral Zone between Saudi Arabia and Kuwait, but under pressure from higher supply from elsewhere in OPEC and escalating trade conflicts.

 

Gold Prices fell again, hitting new Dollar lows for 2018 and extending this week’s drop to $15 per ounce after the largest exchange-traded gold fund shrank to its smallest size in 10 months.

Market Close

UK 100 7,537.92 +28.08 +0.4%
UK 250 20,757.2 -17.2 -0.1%
GER 30 12,234.3 -36.0 -0.3%
FRA 40 5,281.3 -2.6 -0.1%
U.S. 30 24,301.39 +48.59 +0.2%
U.S. 500 2,721.57 +4.50 +0.2%
OIL (BRENT) 75.31 +0.58 +0.8%
GOLD 1,261.86 -3.78 -0.3%

UK Risers & Fallers

Carnival 4347 +132 +3.3%
Next 6106 +144 +2.4%
Petra Diamonds 59.625 +6.1 +11.3%
International Airlines Group 673.2 -24.6 -3.5%
Microfocus 1264 -29 -2.2%
Inmarsat 555 -79 -12.5%

Reported Economic Data

Time/Date Previous Forecast Outcome
3:00pm: U.S. CB Consumer Confidence Rating 128.0 127.6 126.4

 

Sources:

https://www.bloomberg.com/markets/commodities

 

http://www.stockmarketwire.com/article/6026827/Carpetright-swings-to-loss-as-sluggish-UK-sales-continue.html

 

http://www.stockmarketwire.com/article/6027586/Reckitt-Benckiser-appoints-PepsiCos-Mehmood-Khan-to-board.html

 

https://uk.reuters.com/article/uk-volkswagen-emissions-closures-wltp/vw-to-close-main-plant-1-2-days-a-week-due-to-new-emissions-tests-idUKKBN1JM1TD?il=0

 

https://uk.reuters.com/article/uk-global-oil/oil-rises-as-outages-balance-trade-dispute-opec-idUKKBN1JM04L?il=0

 

https://uk.reuters.com/article/uk-britain-economy-inflation-citi/uk-inflation-expectations-rise-to-joint-highest-level-since-2013-idUKKBN1JM1PI?il=0

 

https://www.bullionvault.com/gold-news/gold-price-062620183

 

 

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