Today's Closing Update

U.S.Stocks were little changed, as the latest earnings and consumer data pointed to ongoing strength in the economy

 

European Stocks swung lower, with mining shares pulling back as Chinese economic data highlighted concern surrounding a global trade war

 

Donald Trump said a high stakes summit with Russian leader Vladimir Putin in Helsinki has enjoyed a “good start”. Trump called his meeting with Putin “a good start, a very good start for everybody” as the two leaders and their top advisers sat across the table from one another during a lunch.

 

Retail sales in the US increased in line with economist estimates in the month of June, according to a report released by the Commerce Department. The report said retail sales climbed by 0.5% in June after soaring by an upwardly revised 1.3% in May. Economists had expected sales to rise by 0.5% compared to the 0.8% increase originally reported for the previous month.

 

John Laing Infrastructure Fund revealed that it was in talks with a consortium of funds about a potential cash buyout offer for the firm. The consortium, comprised of Dalmore Capital and Equitix Investment Management, confirmed the potential JLIF all-cash offer which would represent a 20.6% premium to the fund’s share price of 118.2p at the close of trading.

 

Bank of America has reported a sharp jump in second quarter profits, helped by cost cuts and the tax reforms introduced by Donald Trump. The banking giant reported better-than-expected profits of $6.78bn (£5.1bn), up from $4.75bn a year earlier.

 

Oil Prices retreated the U.S. reportedly considered tapping emergency supplies, to offset output losses around the world.

 

Gold Prices steadied as the dollar slipped, but higher interest rates in the United States weighed on investor demand

Market Close

Market Index Change % Change
UK 100 7,600.5 -61.4 -0.8%
UK 250 20,800.6 -12.6 -0.1%
GER 30 12,561.0 +20.3 +0.2%
FRA 40 5,409.4 -19.8 -0.4%
US 30 25,014.65 -4.76 -0.0%
US 500 2,797.39 -3.92 -0.1%
OIL (BRENT) 72.21 -3.12 -4.1%
GOLD 1,238.90 -5.42 -0.4%

UK Risers & Fallers

Company Price Change % Change
Smith (DS) 496 +6.1 +1.3%
CRH 2718 +27 +1%
John Laing Infrastructure Fund 139.6 +21.4 +18.1%
Micro Focus 1241.5 -37 -2.9%
Severn Trent 1895 -46 -2.4%
Go-Ahead Group 1385.5 -141 -9.2%

Reported Economic Data

Time/Date Previous Forecast Outcome
1.30pm: US Core Retail Sales m/m 0.9% 0.4% 0.4%
1.30pm: US Retail Sales m/m 0.8% 0.4% 0.5%

 

 

Sources

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531751009547603000.html

 

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531749481267542600.html

 

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531747255227460500.html

 

 

https://uk.webfg.com/news/news-and-announcements/john-laing-infrastructure-fund-shares-surge-following-potential-cash-buyout–3396755.html

 

 

https://www.marketwatch.com/story/us-stock-futures-inch-higher-with-earnings-trump-putin-summit-in-focus-2018-07-16

 

 

https://www.marketwatch.com/story/european-stocks-slip-on-china-growth-concerns-but-deutsche-bank-leaps-2018-07-16

 

 

https://www.chron.com/business/energy/article/Oil-Holds-Below-71-on-Prospect-of-U-S-and-OPEC-13078095.php

 

 

https://uk.reuters.com/article/global-precious/precious-gold-steadies-higher-us-rates-expected-to-weigh-idUKL4N1UC2SI

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