Today's Closing Update

U.S.Stocks wobbled between small gains and losses ahead of a second day of testimony from the Federal Reserve chairman and as investors parsed another wave of U.S. earnings reports.

 

European Stocks were up, with the benchmark index flirting with a one-month high on the back of a weaker euro and a round of well-received corporate results.

 

UK inflation remained stable for the second straight month in June, the Office for National Statistics reported. Consumer prices climbed 2.4% year-over-year in June, the same rate of increase as in the previous two months.

 

Euro area annual inflation accelerated in June, exceeding the European Central Bank’s target of “below, but close to 2%”, final data from Eurostat confirmed. The annual inflation rate rose to 2% from 1.9% in May, in line with the flash estimate release on June 29.

 

UK house prices rose at their slowest pace in nearly five years during May, latest data from the Office for National Statistics showed Wednesday. Average house prices rose 3% year-on-year after a 3.5% increase in April. House price growth has been slowing after the Brexit vote in mid-2016 and remained under 5% for most of 2017 and into 2018, the ONS said.

 

Google has been fined a record €4.34bn ($5bn; £3.9bn) over Android. The European Commission said the firm had used the mobile operating system to illegally “cement its dominant position” in search. The firm’s parent Alphabet has been given 90 days to change its business practices or face further penalties of up to 5% of its average global daily turnover.

 

NewRiver REIT said average rent collected from its retail property portfolio fell slightly in the first quarter, amid lower customer footfall. Average retail rent fell to £12.35 per square feet in the three months through June, a tad lower than £12.36 in the three months through March.

 

Astrazeneca is increasing its stockpiles of drugs by a fifth to ensure the smooth supply of medicines in the case of a hard Brexit in April 2019.

 

Oil Prices hit a three-month low after government data showed a rise in U.S. crude inventories and oil production, which highlighted increasing global supply and concerns over weak demand.

 

Gold Prices slipped to their lowest in a year, as the dollar firmed after Federal Reserve Chairman Jerome Powell’s U.S. economic outlook reinforced views that the central bank is on track to steadily hike interest rates.

Market Close

Market Index Change % Change
UK 100 7,676.3 +50.0 +0.7%
UK 250 20,984.2 +112.9 +0.5%
GER 30 12,765.9 +104.4 +0.8%
FRA 40 5,447.4 +24.9 +0.5%
US 30 25,184.15 +64.26 +0.3%
US 500 2,814.11 +4.56 +0.2%
OIL (BRENT) 72.18 +0.02 +0.0%
GOLD 1,225.79 -1.75 -0.1%

UK Risers & Fallers

Company Price Change % Change
Hargreaves Lansdown 2110 +65 +3.2%
Johnson Matthey 3756 +89 +2.4%
Aggreko 697 +40.8 +6.2%
Smiths Group 1627 -122.5 -7%
Sainsbury (J) 324.4 -4.2 -1.3%
Allied Mind 87 -4 -4.3%

Reported Economic Data

Time/Date Previous Forecast Outcome
9.30am: U.K. CPI y/y 2.4% 2.6% 2.4%
9.30am: U.K. RPI y/y 3.3% 3.5% 3.4%
1.30pm: U.S. Building Permits 1.33m 1.30m 1.27m
3.30pm: U.S. Crude Oil Inventories -12.6m -3.4m 5.8m

 

 

Sources

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531914621351468800.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531909644151211300.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531909874391227200.html

 

http://www.stockmarketwire.com/article/6056692/NewRiver-REIT-rent-flat-as-footfall-declines-ups-dividend-by-3pct.html

 

https://uk.webfg.com/news/news-and-announcements/astrazeneca-hoards-drugs-in-preparation-for-brexit–3402223.html

 

https://www.bbc.co.uk/news/technology-44858238

 

https://www.marketwatch.com/story/european-stocks-jump-to-1-month-high-2018-07-18

 

https://www.marketwatch.com/story/us-stock-futures-fight-for-direction-with-powell-morgan-stanley-earnings-ahead-2018-07-18

 

https://uk.reuters.com/article/us-global-oil/oil-prices-fall-on-rise-in-us-stocks-demand-worries-idUKKBN1K802P

 

https://www.nasdaq.com/article/preciousgold-hits-1year-low-as-dollar-firms-on-us-fed-rate-outlook-20180718-00129

 

 

Subscribe to our Award-winning Newsletter

We provide daily market data in the form of our award-winning newsletter, The Morning Call and The Market Close.
You can subscribe to this information at any time to help you make the most of your investment.

Quick Sign-up

Recommendations: Collins Sarri Statham Investments Ltd (CSS) does not in any of its publications take into account any particular recipient's investment objectives, financial situation, and specific needs and demands. Therefore, all CSS publications are, unless otherwise specifically stated, intended for informational and/or marketing purposes only.CSS shall not be responsible for any loss arising from any investment based on a perceived recommendation.

No publication (including recommendations) shall be construed as a representation or warranty that the recipient will profit, nor avoid sustaining losses, from trading in accordance with a trading strategy set forth in a publication.

Risk Warning: Trading in the products and services offered by Collins Sarri Statham Investments Ltd (CSS) may, result in losses as well as profits as the value of investments may go down as well as up. You may not get back the full amount you have invested.

Any reference to past performance should not be viewed as an indication of any future performance.

Investments held in overseas markets are subject to the effects of changes in exchange rates which will impact on the value of the underlying investment.

Investments made in AIM and penny shares carry an increased risk due to the difficulty in creating a market in these shares. There may be a substantial difference in the buy and sell price.

Leveraged products such as Contracts for Difference (CFDs), derivatives, commodities & Foreign Exchange (FX), carry a higher risk to your capital. They can lose their value rapidly and you may lose substantially more than your initial investment.

Speculative trading is not suitable for all investors: The information contained herein is based on materials and sources that we believe to be reliable however we make no representation or warranty, either express or implied, in relation to the accuracy, completeness or reliability of the information contained herein. Please note that the figures shown may, in some instances, be rounded to the nearest penny. Prices can move sharply from those quoted in this document. Current prices can be verified by calling one of our brokers. CSS is under no obligation to update the information contained herein. Neither CSS, nor its affiliates, nor its employees shall have any liability whatsoever for any indirect or consequential loss or damage arising from the use of this document.

Get Started with CSS

Open an Account

Subscribe to our award winning daily newsletter

Voted "Best Market Newsletter" in 2012, 2014, 2015 and 2017 by the City of London Wealth Management Awards

Subscribe to our newsletter (Popup)

By signing up to our free email, you are consenting to receive these promotions. The newsletter is sent up to three times per day during the week and up to once per day over the weekend and is directed at UK residents. The newsletter contains company news, market movements, CSS research and promotions and breaking economic news. Occasionally our newsletter will contain advertisements from trusted partners. However, we will never give, sell or rent your email address to any other companies. If you want to stop receiving our free emails you can unsubscribe at any time by clicking on the link at the bottom of each email. You can read our privacy policy here.

Sending
No, thank you I am already subscribed