Today's Closing Update

U.S.Stocks bounced higher as expectations that lower U.S. taxes would fuel corporate earnings added to easing of nerves over U.S. military conflict with Russia in Syria.

 

European Stocks were mixed despite easing concerns over a potential military conflict in Syria eased.

 

First time claims for US unemployment benefits decreased in the week ended April 7th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims fell to 233,000, a decrease of 9,000 from the previous week’s unrevised level of 242,000. Economists had expected jobless claims to drop to 230,000.

 

Twenty-First Century Fox said it remains committed to its cash offer for Sky PLC, first announced over a year ago at the end of 2016, as it noted the decision by the UK Takeover Panel that may require Walt Disney Co to bid for all of Sky. The UK Takeover Panel ruled that the Walt Disney Co would have to make a mandatory offer for Sky PLC after completing its proposed $60bn takeover of most the assets of Twenty-First Century Fox Inc, which currently owns 39% of the pay-TV operator and has been trying to acquire the remainder.

 

International Airlines Group may bid for Norwegian Air Shuttle, the fast-expanding budget airline. Buying the airline would allow International Airlines Group to increase its market share amid rising competition from low-cost carriers. Norwegian said it had not been aware that IAG had acquired a 4.6% stake until media reports on Thursday.

 

Intertek Group has agreed to buy Proasem, a provider of laboratory testing, inspection, metrology and training services, based in Colombia, for an undisclosed sum. In a statement, the group noted that Proasem, which generated revenues of £4.5mln in 2017, employs 190 people.

 

Gold Prices tumbled from an 11-week high as the dollar gained and investors booked profits.

 

Oil Prices edged off highs last reached in late 2014 due to rising U.S. stocks but remained well supported by shrinking global oil inventories and expectations of a supply cut extension by OPEC.

Market Close

Market Index Change % Change
UK 100 7,258.3 +1.2 +0.0%
UK 250 19,772.9 +118.0 +0.6%
GER 30 12,415.0 +121.0 +1.0%
FRA 40 5,309.2 +31.3 +0.6%
U.S. 30 24,472.65 +282.20 +1.2%
U.S. 500 2,662.0 +19.8 +0.8%
OIL (BRENT) 71.65 -0.41 -0.6%
GOLD 1,338.12 -15.26 -1.1%

UK Risers & Fallers

Company Price Change % Change
Micro Focus 1258.5 +88.5 +7.6%
Tesco 233.3 +7.8 +3.5%
Greene King 528 +63.1 +13.6%
ITV 142.9 -7.3 -4.9%
Randgold Resources 5692 -184 -3.1%
Auto Trader 339.8 -17.3 -4.9%

Reported Economic Data

Time/Date Previous Forecast Outcome
8.30am: U.K. Bank of England Credit Conditions Survey
11:30am ECB Monetary Policy Meeting Accounts
12:30pm: U.S. Unemployment Claims 242k 231k 233k

 

 

Sources

 

 

 

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1523539774015364300.html

 

 

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1523542896295441600.html

 

 

http://www.proactiveinvestors.co.uk/companies/news/194825/intertek-expands-in-latin-america-with-acquisition-of-columbia-based-proasem-for-an-undisclosed-sum-194825.html

 

 

https://uk.reuters.com/article/global-precious/precious-gold-falls-from-11-week-high-on-stronger-dollar-profit-taking-idUKL3N1RP3GN

 

 

https://www.reuters.com/article/us-global-oil/oil-dips-from-three-year-highs-but-opec-supply-draw-supports-idUSKBN1HJ01E

 

 

https://www.marketwatch.com/story/european-stocks-drop-as-syria-tensions-keep-traders-on-edge-2018-04-12

 

 

https://www.reuters.com/article/us-usa-stocks/wall-street-jumps-on-earnings-optimism-syria-worries-ebb-idUSKBN1HJ1P7

 

 

http://www.bbc.co.uk/news/business-43739254

 

 

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