Today's Closing Update

U.S.Stocks rose on, supported by gains in Europe and three straight days of tech-driven rises on Wall Street,

 

European Stocks rallied with German stocks climbing after German Chancellor Angela Merkel steered her coalition government away from immediate collapse by reaching an agreement over migration.

 

WPP is set to go up against its former chief executive, Martin Sorrell, in a takeover tussle for control of Netherlands-based MediaMonks. Sorrell’s new firm, S4 Capital, and WPP have emerged as two of the interested parties. The bidding war could rise as high as €300m, or £264m, for MediaMonks, which specialises in digital advertising and production.

 

Standard Chartered said it promoted Vishu Ramachandran to the new role of retail banking head, effective July 16. Prior to the appointment, Ramachandran served as Standard Chartered’s head of retail banking for South Asia, the Middle East, Pakistan and Africa. He was also a chief financial officer, chief credit officer and chief operating officer of the retail bank.

 

Ferrexpo said total pellet production fell modestly in the second quarter of the year weighed down by a scheduled refurbishment to the pellet line. Total pellet production for the second quarter of 2018 fell 2.9% to 2.51m tonnes from 2.59m tonnes the same period a year ago. For the first half of the year pellet production was 5.10m tonnes, down 1.2% from 5.16m tonnes the same period a year ago.

 

The London Stock Exchange Group said it has applied for several trading and trade reporting licences so that it can continue to serve customers in the European Union if Britain leaves the bloc without a deal with the EU.

 

Oil Prices rallied amid concerns about a global supply shortage and sanctions against Iran. Meanwhile, US oil inventories are fell sharply amid increased refinery activity and a modest drop in the oil rig count.

 

Gold Prices were slightly higher in thin trade ahead of the July 4 holiday.

Market Close

UK 100 7,593.3 +45.4 +0.6%
UK 250 20,665.2 +59.4 +0.3%
GER 30 12,249.1 +110.0 +0.9%
FRA 40 5,316.8 +40.0 +0.8%
U.S. 30 24,356.44 +49.26 +0.2%
U.S. 500 2,729.30 +2.59 +0.1%
OIL (BRENT) 77.25 -0.05 -0.1%
GOLD 1,254.57 +12.53 +1.0%

UK Risers & Fallers

BT Group 223 +6.15 +2.8%
British American Tobacco 3910 +90 +2.4%
Paragon 510.5 +39.6 +8.4%
Glencore 321 28.3 -8.1%
Micro Focus 1235.5 -108 -8.0%
Hastings Group 237 -15.4 -6.1%

Reported Economic Data

9.30am: UK Construction PMI 52.5 52.6 53.1

 

Sources:

https://uk.reuters.com/

http://www.stockmarketwire.com/

http://www.digitallook.com/

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