Today's Closing Update

U.S. Stock fell, with technology stocks leading the move lower and pressuring the technology index into an outsize decline.

 

European Stocks were trading higher, despite escalating trade tensions between the world’s two largest economies.

 

The Wall Street Journal reported, citing sources, that the US is proposing a new round of talks with China in the near future. The report says the talks are aimed at getting bilateral economic negotiations back on track.

 

Tate & Lyle said it expects annual “single digit” earnings per share growth towards the lower end, due to energy and transport cost inflation. The company reiterated its outlook for the year ending March 2019 which forecast single digit growth.

 

US producer prices fell by 0.1% between July and August compared to forecasts for a 0.2% rise. Over the year, producer prices increased by 2.8%.

 

Ryanair said it would add 23 new routes in 2019 from London to destinations including Barcelona, Bilbao, Copenhagen and Kiev. The budget airline said the additions would create its biggest ever London schedule, bringing its service to 180 routes in total and delivering around 26m passengers.

 

Sports Direct’s Simon Bentley has clarified comments he made which suggested a potential merger between House of Fraser and Debenhams had been discussed by the board. The non-executive director said: “I was asked a general question about whether or not we discuss our strategic investments, and in particular Debenhams, to which I replied in the positive.

 

Oil Prices rallied towards the highest level this year, after a drop in U.S. crude inventories and as the prospect of the loss of Iranian supply added to concerns over the delicate balance between consumption and production.

 

Gold Prices fell, but remained stuck in a narrow trading range as investors worry about a simmering trade war between the United States and China.

Market Close

Market Index Change % Change
UK 100 7,313.4 +39.8 +0.6%
UK 250 20,380.5 +154.1 +0.8%
GER 30 12,032.3 +62.0 +0.5%
FRA 40 5,332.1 +48.3 +0.9%
US 30 26,127.04 +155.98 +0.6%
US 500 2,890.53 +2.64 +0.1%
OIL (BRENT) 79.56 +0.50 +0.6%
GOLD 1,203.54 +4.95 +0.4%

UK Risers & Fallers

Company Price Change % Change
British American Tobacco 3763 +208.5 +5.9%
Imperial Brands 2691.5 +83 +3.2%
Dunelm 576.25 +60.5 +11.9%
SSE 1147 -103.5 -8.3%
Centrica 144.35 -5.4 -3.6%
AA 114 -3.9 -3.3%

Reported Economic Data

Time/Date Previous Forecast Outcome
1.30pm: U.S. PPI m/m 0.0% 0.2% -0.1%
1.30pm: U.S. Core PPI m/m 0.1% 0.2% -0.1%
3.30pm: U.S. Crude Oil Inventories -4.3m -1.3m -5.3m

 

 

Sources

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1536758236732274300.html

 

http://www.stockmarketwire.com/article/6125528/Ryanair-adds-23-London-routes-complains-of-discrimination-at-Stansted.html

 

https://uk.reuters.com/article/global-precious/precious-gold-slips-amid-us-china-trade-war-concerns-idUKL3N1VY4PU

 

https://uk.reuters.com/article/uk-global-oil/oil-approaches-80-a-barrel-supply-starts-to-look-tight-idUKKCN1LS031

 

https://www.cnbc.com/2018/09/12/european-markets-trade-concerns-weigh-on-sentiment.html

 

https://www.marketwatch.com/story/us-stock-futures-inch-up-as-apples-iphone-event-grabs-the-spotlight-2018-09-12

 

https://www.bbc.co.uk/news/live/business-45448971

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