Today's Closing Update

U.S.Stocks were trading lower on Friday, with tensions between the U.S. and key trade partners rising as the G-7 summit kicked off.

 

European Stocks were led lower by a German sell-off Friday, with major markets under pressure as trade tensions between the U.S. and other countries were on full display when leaders of the Group of Seven advanced economies gathered in Quebec.

 

US President Donald Trump says he wants Russia to be part of the G7 group of key industrialised nations. Russia was expelled in 2014 following its annexation of Crimea, but Mr Trump said he wanted the country readmitted. The build-up to the meeting has seen major disagreements between the US president and other nations over his imposition of trade tariffs.

 

Apple Inc expects to ship 80 million new model iPhones this year, down 20% from what it had planned at the same time last year. The California-based firm has asked its parts suppliers to make about 20% fewer components for the three new iPhones it plans to launch in the second half of 2018, compared to last year’s plans for its iPhone X and iPhone 8 models, the paper reported.

 

IWG said authorities had extended the period for which it could consider separate takeover bids by Starwood Capital and TDR Capital. In accordance with takeover regulations, each of Starwood and TDR was required to announce a firm intention to make an offer for the company by not later than 5.00 p.m today.

 

SSE has agreed to pay £1m to the Office of Gas and Electricity Markets’ consumer redress fund after providing “inaccurate and misleading information” to pre-payment meter customers in their annual statements. Ofgem launched its investigation into the UK100 firm after it reported the issue to the regulator back in November.

 

Oil Prices dropped today on waning Chinese demand and soaring U.S. production, offsetting Venezuelan and Iranian supply worries and OPEC-led production cuts.

 

Gold Prices firmed on Friday as a rise in risk aversion ahead of G7 talks this weekend lent support, but the metal remained hemmed within its narrowest weekly range in more than a decade as a recovery in the dollar kept a lid on gains.

Market Close

UK 100 7,681.1 -23.3 -0.3%
UK 250 21,160.5 +5.8 +0.0%
GER 30 12,766.6 -44.5 -0.4%
FRA 40 5,450.2 +1.9 +0.0%
U.S. 30 25,240.17 -1.24 -0.0%
U.S. 500 2,767.84 -2.53 -0.1%
OIL (BRENT) 76.62 -0.70 -0.9%
GOLD 1,298.65 +1.47 +0.1%

UK Risers & Fallers

Barratt Developments 586 +12.8 +2.2%
Reckitt Benckiser 5874 +115 +2.0%
Inmarsat 474.45 +56.3 +13.5%
Fresnillo 1216 -83 -6.4%
Standard Life Aberdeen 351 -13 -3.6%
Hochschild 200.3 -17.8 -8.2%

Reported Economic Data

Time/Date Previous Forecast Outcome
All Day: G7 Meetings

 

Sources:

http://www.stockmarketwire.com/article/6005235/IWG-extends-deadline-to-consider-takeover-bids-from-Starwood-and-TDR.html

 

http://www.stockmarketwire.com/article/6004513/Fuller-Smith-Turner-profit-inches-higher-despite-challenging-market-conditions.html

 

https://uk.reuters.com/article/uk-britain-eu-banks/decrying-witch-hunt-against-brexit-backers-banks-shuns-mps-idUKKCN1J420G?il=0

 

https://uk.reuters.com/article/uk-apple-inc-iphone/apple-plans-to-make-20-percent-fewer-new-model-iphones-this-year-nikkei-idUKKCN1J41AW?il=0

 

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1528464494832980000.html

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