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Britain's top share index slipped back in early trade on Thursday as traders returned to work after a two-day festive break, tracking overnight falls on Wall Street, with all eyes staying on key U.S. budget talks.
VIEW FULL ARTICLEIn the UK, the latest reading from the high street failed to show the expected pick-up in sales following a weak October. Retail sales (exc. fuel) rose by just 0.1% in November, below the consensus forecast of 0.4%.
VIEW FULL ARTICLEWorld shares retreated from 17-month highs and commodities fell as talks to avert a U.S. fiscal crisis stalled, reigniting fears over the health of the world's largest economy. The worries over the latest course of events have spread into the commodity markets, leaving gold near its 3-1/2-month low hit earlier...
VIEW FULL ARTICLESterling climbed to the highest level in almost three months against the US dollar ahead of BOE minutes. With BoE seeing a flat economy output in the near term with inflation probably exceeding 2% in the next year or so, the MPC decided to leave their bond-purchase program on hold this month...
VIEW FULL ARTICLEThe cost for European banks to borrow in dollars rose to the highest in a week, according to a money-markets indicator. A measure of European banks’ reluctance to make unsecured loans to one another held near a three-week low.
VIEW FULL ARTICLEAnalysts said the British pound could see further gains against a weaker dollar if the so-called U.S. fiscal cliff, a looming combination of tax rises and spending cuts due to kick-in at the beginning of 2013, is not headed off soon.
VIEW FULL ARTICLESterling hit its lowest level in more than a week against the euro on Friday after Standard & Poor's lowered its outlook on UK government debt to negative. This downgrade puts S&P's outlook on the UK in line with other ratings agencies Fitch and Moody's.
VIEW FULL ARTICLEThe euro once gain registered gains against the Pound during yesterday’s session, sending the GBP/EUR exchange rate down into the lower half of the 1.2300s by the European equities close. The fundamentals suggests that a move to the upside would have been the most obvious outcome following some strong UK...
VIEW FULL ARTICLEThe dollar hovered near multi month lows against higher yielding currencies on Wednesday as markets bet the U.S. Federal Reserve would announce more stimulus later in the day. The euro was also buoyed following surprise strength in German economic sentiment, which contrasted with recent signs that concerns over the "fiscal cliff"...
VIEW FULL ARTICLEThe euro found some support after Italian Prime Minister Mario Monti played down market fears over his decision to resign, saying there was no danger of a vacuum ahead of an election in the spring. FX markets are showing some notable resilience following news of Monti's imminent resignation however prospects...
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