Investment market update
This bulletin provides you with an overview of the latest market news from around the world – world markets, key headlines, stocks and market data.
UK equities are expected to open higher this morning following the rise in Asian markets overnight.
Most Asian stocks rose as gains by retailers and airlines outweighed a drop among energy explorers as crude oil neared a bear market.
US stocks fell as disappointing results from Apple Inc., Microsoft Corp. and Yahoo! Inc. impacted technology stocks.
UK stocks fell as mining stocks retreated to their lowest level in six years following a downbeat statement from BHP Billiton Ltd on the prospects for future output. ARM Holdings fell 6.6%, its biggest drop since 2013, after reporting sales that missed analysts’ estimates and as Apple Inc., which uses its chip technology, sold fewer-than-estimated iPhones.
Prime Minister Alexis Tsipras called on Greeks to pull together and accept the sacrifices required to stay in the euro as lawmakers voted through a second package of creditors’ demands.
Gold suffered this week as commodities fell to a 13-year low. It may get a lot worse, according to Morgan Stanley, which said that under its worst case scenario bullion may fall to $800 an ounce.
Royal Dutch Shell Plc received limited permits to drill two wells off Alaska’s Arctic coast, clearing the way for the first oil exploration since the company’s mishap-plagued effort in 2012 stalled its plans.
A new car rolls off Britain’s production lines every 20 seconds. Britain’s car makers are some of the country’s most productive employees, each generating £100,000 a year in added value. Productivity in the UK car industry has risen by 35% since 2010 and is now twice the national average.
Credit Suisse Group AG reported second quarter net income that beat analyst estimates even as profit from investment banking fell in the months before Chief Executive Officer Tidjane Thiam took over.
Italian equities’ world beating rally is just getting started. That’s according to Societe Generale SA, which sees the FTSE MIB Index capping its 25% jump this year with another 40% gain by 2017.