Today's Closing Update

U.S. Stocks started strongly following heavy losses in the previous session, as investors welcomed the latest development in US-China trade relations.

 

European Stocks were higher following news that China accepted an invitation from the United States to talk trade in late August.

 

Federal regulators have subpoenaed each of Tesla’s directors following preliminary inquiries into CEO Elon Musk’s tweet last week assuring investors that he had secured the funding needed to take the company private.

 

Marshalls plc saw operating profit rise 12% to £33.5m in the first half of 2018 as revenue remained healthy despite the impact of the severe weather. Revenue climbed 12% to £244.3m in the six months ending 30 June 2018.

 

A report released by the Labor Department showed first-time claims for US unemployment benefits unexpectedly edged lower in the week ended August 11th. The report said initial jobless claims dipped to 212,000, a decrease of 2,000 from the previous week’s revised level of 214,000.

 

UK retail sales increased by 0.7% in July, ahead of expectations. The Office for National Statistics (ONS) figures also showed that retail sales rose by 3.5% in the year to July.

 

Walmart soared 40% in the last three months helping boost overall sales to $128bn (£101bn). Walmart shares jumped 10% ahead of the opening of the New York stock market. President and chief executive Doug McMillion said: “We’re leveraging stores and e-commerce to make shopping faster and more convenient.

 

Amazon is speaking with a number of leading European insurers about the creation of a price comparison website in the U.K., Reuters reported Thursday. The report, which cited three executives within the insurance industry, said it was not immediately clear what kind of insurance products Amazon’s site would offer, and that there were no imminent launch plans.

 

Oil Prices rose as global markets steadied, though a weakening outlook for crude demand kept prices in check.

 

Gold Prices bounced from 19-month lows as the dollar slipped on news that China and

Market Close

Market Index Change % Change
UK 100 7,556.4 +58.5 +0.8%
UK 250 20,462.3 +141.9 +0.7%
GER 30 12,237.2 +74.2 +0.6%
FRA 40 5,349.0 +43.8 +0.8%
US 30 25,520.21 +357.80 +1.4%
US 500 2,845.30 +26.93 +1.0%
OIL (BRENT) 71.20 +0.44 +0.6%
GOLD 1,179.36 +4.51 +0.4%

UK Risers & Fallers

Company Price Change % Change
NMC Health 4062 +120 +3.0%
WPP 1281.5 +36.5 +2.9%
Marshalls 483.6 +61 +14.4%
Kingfisher 274.5 -13.9 -4.8%
Informa 774 -11 -1.4%
Evraz 461.3 -27.6 -5.7%

Reported Economic Data

Time/Date Previous Forecast Outcome
9.30am: UK Retail Sales m/m -0.5% 0.2% 0.7%
1.30pm: U.S. Building Permits 1.29m 1.31m 1.31m
1.30pm: U.S. Housing Starts 1.17m 1.27m 1.17m
1.30pm: U.S. Philly Fed Manufacturing Index 25.7 21.9 11.9

 

 

Sources

 

http://www.stockmarketwire.com/article/6093750/Marshall-sees-12pct-hike-in-H1-operating-profit-despite-severe-weather.html

 

https://uk.webfg.com/news/market-report-us/us-open-strong-start-on-the-street-as-wall-street-extends-an-olive-branch-to-china–3445446.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1534424841036135000.html

 

https://www.bbc.co.uk/news/live/business-45144631

 

https://www.bbc.co.uk/news/business-45206107

 

https://www.bbc.co.uk/news/business-45210066

 

https://www.cnbc.com/2018/08/16/european-stocks-china-announced-new-trade-talks-with-the-us.html

 

https://uk.reuters.com/article/uk-global-oil/oil-rises-as-china-u-s-set-for-trade-talks-but-markets-weary-of-slowing-demand-idUKKBN1L105U?il=0

 

https://uk.reuters.com/article/global-precious/precious-gold-given-respite-by-planned-us-china-trade-talks-idUKL5N1V74H0

 

https://www.cnbc.com/2018/08/16/amazon-in-talks-about-uk-insurance-comparison-website-reuters.html

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