Today's Closing Update

U.S. Stocks as excitement about the U.S. 500’s bull run off-set investor concerns about criminal convictions of two former political advisors of President Trump

 

European Stocks finished the session on a relatively muted note, as investors continued to monitor trade talks between the world’s two largest economies.

 

President Donald Trump has denounced his former personal lawyer and fixer on Twitter, recommending people avoid hiring him. “If anyone is looking for a good lawyer, I would strongly suggest that you don’t retain the services of Michael Cohen!” the president said. Cohen pleaded guilty to multiple counts of fraud in a New York court on Tuesday and implicated the president in a scheme to pay off women who claimed they had an affair with Trump.

 

U.S. existing home sales fell 0.7% in July to 5.34m, from from 5.38m in June, according to the National Association of Realtors. The fall defied market expectations for a rise to 5.40m home sales. ‘With last month’s decline, sales are now 1.5% below a year ago and have fallen on an annual basis for five straight months, the NAR said.

 

The UK Competition & Markets Authority said it has cleared the acquisition of Fidessa Group by ION Investment Group. The UK regulator decided against referring the merger any further on August 3.

 

EU antitrust regulators are set to approve Apple’s bid for British music discovery app Shazam without demanding concessions, two people familiar with the matter said.

 

US retailer Target beat sales estimates, posting the best same-store figures in 13 years. The chain also managed to fend off competition from Amazon, with digital sales increasing by more than 40 percent in the last quarter.

 

Oil Prices have risen to above $74 a barrel following US sanctions on Iran, and the publication of a report showing that US crude stocks fell last week by 5.2 million barrels

 

Gold Prices rose to their highest in a over week, as the dollar eased ahead of minutes from the U.S. Federal Reserve’s August policy meeting and trade talks between Chinese and U.S. officials.

Market Close

Market Index Change % Change
UK 100 7,574.2 +8.5 +0.1%
UK 250 20,642.5 -0.4 -0.0%
GER 30 12,385.7 +1.2 +0.0%
FRA 40 5,420.6 +12.0 +0.2%
US 30 25,817.69 -4.60 -0.0%
US 500 2,865.56 +2.60 +0.1%
OIL (BRENT) 74.53 +1.90 +2.6%
GOLD 1,195.85 -0.14 -0.0%

UK Risers & Fallers

Company Price Change % Change
Mediclinic 491.25 +15.9 +3.4%
Fresnillo 946.8 +16.6 +1.8%
Wood Group 765.5 +46.4 +6.5%
NMC Health 3908 -150 -3.7%
Easyjet 1554.5 -57.5 -3.6%
Hansteen Holdings 104.5 -5.9 -5.6%

Reported Economic Data

Time/Date Previous Forecast
3.00pm: U.S. Existing Home Sales 5.38m 5.40m
3.30pm: U.S. Crude Oil Inventories 6.8m -1.6m
7.00pm: U.S. FOMC Meeting Minutes

 

 

Sources

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1534944679062780500.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1534950704952966300.html

 

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1534948962002912500.html

 

http://www.stockmarketwire.com/article/6101154/US-existing-home-sales-fall-unexpectedly-in-July.html

 

https://www.bbc.co.uk/news/live/business-45220537

 

https://uk.reuters.com/article/global-precious/precious-gold-clings-to-one-week-high-ahead-of-fed-minutes-idUKL3N1VD36L

 

https://www.cnbc.com/2018/08/22/european-markets-us-china-trade-talks-in-focus.html

 

https://uk.reuters.com/article/uk-shazam-m-a-apple-eu/eu-set-to-clear-apples-bid-for-music-app-shazam-sources-idUKKCN1L71OB?il=0

 

https://uk.reuters.com/article/uk-global-oil/oil-rises-2-percent-on-large-u-s-stockpile-drop-iran-sanctions-idUKKCN1L704R

Subscribe to our Award-winning Newsletter

We provide daily market data in the form of our award-winning newsletter, The Morning Call and The Market Close.
You can subscribe to this information at any time to help you make the most of your investment.

Quick Sign-up

Recommendations: Collins Sarri Statham Investments Ltd (CSS) does not in any of its publications take into account any particular recipient's investment objectives, financial situation, and specific needs and demands. Therefore, all CSS publications are, unless otherwise specifically stated, intended for informational and/or marketing purposes only.CSS shall not be responsible for any loss arising from any investment based on a perceived recommendation.

No publication (including recommendations) shall be construed as a representation or warranty that the recipient will profit, nor avoid sustaining losses, from trading in accordance with a trading strategy set forth in a publication.

Risk Warning: Trading in the products and services offered by Collins Sarri Statham Investments Ltd (CSS) may, result in losses as well as profits as the value of investments may go down as well as up. You may not get back the full amount you have invested.

Any reference to past performance should not be viewed as an indication of any future performance.

Investments held in overseas markets are subject to the effects of changes in exchange rates which will impact on the value of the underlying investment.

Investments made in AIM and penny shares carry an increased risk due to the difficulty in creating a market in these shares. There may be a substantial difference in the buy and sell price.

Leveraged products such as Contracts for Difference (CFDs), derivatives, commodities & Foreign Exchange (FX), carry a higher risk to your capital. They can lose their value rapidly and you may lose substantially more than your initial investment.

Speculative trading is not suitable for all investors: The information contained herein is based on materials and sources that we believe to be reliable however we make no representation or warranty, either express or implied, in relation to the accuracy, completeness or reliability of the information contained herein. Please note that the figures shown may, in some instances, be rounded to the nearest penny. Prices can move sharply from those quoted in this document. Current prices can be verified by calling one of our brokers. CSS is under no obligation to update the information contained herein. Neither CSS, nor its affiliates, nor its employees shall have any liability whatsoever for any indirect or consequential loss or damage arising from the use of this document.

Get Started with CSS

Open an Account

Subscribe to our award winning daily newsletter

Voted "Best Market Newsletter" in 2012, 2014, 2015 and 2017 by the City of London Wealth Management Awards

Subscribe to our newsletter (Popup)

By signing up to our free email, you are consenting to receive these promotions. The newsletter is sent up to three times per day during the week and up to once per day over the weekend and is directed at UK residents. The newsletter contains company news, market movements, CSS research and promotions and breaking economic news. Occasionally our newsletter will contain advertisements from trusted partners. However, we will never give, sell or rent your email address to any other companies. If you want to stop receiving our free emails you can unsubscribe at any time by clicking on the link at the bottom of each email. You can read our privacy policy here.

Sending
No, thank you I am already subscribed