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Market Round-up 18.07.14 – 09:00hrs CET

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Market Round-up 18.07.14 – 09:00hrs CET

298 dead in missile attack on Malaysia Airline plane.
A Malaysian airliner that crashed in eastern Ukraine with 298 people on board was shot down in a missile attack, US and Ukrainian officials said on Thursday. Washington believes the jet was hit by a missile fired from the ground, a senior official said.

Israel launches ground operation against Hamas tunnels.
The deadly 10-day-old conflict with the militant group has escalated into a new phase that Israel said it stood ready to expand even further if need be.

British high street competition regulator set to recommend a full-blown inquiry into small business lending and current accounts.
Consumers and small businesses are frustrated at the lack of competition between the big four banks, and the Competition and Markets Authority is to launch a formal investigation in the autumn.

China’s property prices cooled further in June.
New home prices across 70 cities tracked by the government rose 4.2% from a year ago, versus a 5.6% annual rise in May. Back in January, annual prices had been climbing at 9.6%.

Liberty Global announced it had paid £481m for a 6.4% stake in ITV.
The cable group that owns Virgin Media raised expectations that it might eventually buy the whole of the broadcaster.

Apple appoints BlackRock co-founder to its board.
By hiring Sue Wagner, Apple has added greater M&A experience and its second female director, as part of a push for greater diversity by chief executive Tim Cook.

Murdoch squashes speculation of further Tribune bids.
The media magnate took to Twitter to quash speculation that News Corp is preparing a bid for Tribune newspapers including the LA Times, citing prohibitive cross-ownership laws.

OVERNIGHT TRADING
Asian markets
Nikkei 225 down -183.35 (-1.19%) at 15,187
Topix down -11.85 (-0.93%) at 1,262
Hang Seng down -104.88 (-0.45%) at 23,416
ASX 200 down -2.83 (-0.05%) at 5,520

US markets
S&P 500 down -23.45 (-1.18%) at 1,958
DJIA down -161.39 (-0.94%) at 16,977
Nasdaq down -62.52 (-1.41%) at 4,363

European markets
Eurofirst 300 down -13.13 (-0.95%) at 1,363
FTSE100 down -46.35 (-0.68%) at 6,738
CAC 40 down -52.94 (-1.21%) at 4,316
Dax down -105.39 (-1.07%) at 9,754

Currencies
€/$ 1.35 (1.35)
$/¥ 101.30 (101.15)
£/$ 1.71 (1.71)
€/£ 0.7913 (0.7909)

Commodities ($)
Brent Crude (ICE) up +0.43 at 108.32
Light Crude (Nymex) up +0.50 at 103.69
100 Oz Gold (Comex) up +6.00 at 1,323
Copper (Comex) down -0.25% at 3.20

Sources: FT, Bloomberg
All information correct as of 09.00CET. For the latest news from the financial markets, please visit deVere Foreign Exchange. For regular news updates throughout the day, please view deVere Market News

Euro’s slide slows as French bond markets stabilise

The Euro was on track for a fifth consecutive weekly decline on Friday, although signs emerged that selling pressure was easing as France’s bond market stabilised and falling US Treasury yields tempered the Dollar’s rally.
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Pound dips as markets await Bailey’s rate clues

The British Pound edged lower against both the US Dollar and Euro on Thursday, as investors awaited a speech by Bank of England Governor Andrew Bailey that could provide clues about the central bank’s next interest rate decision.
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Dollar advances as oil tops $100 and Fed takes centre stage 

The US Dollar edged higher on Wednesday, supported by rising oil prices, as investors awaited the Federal Reserve’s meeting minutes and comments from policymakers for clues about the outlook for interest rates.
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Euro rout deepens as France’s fiscal risks intensify

The Euro fell sharply on Monday to a 17-month low as mounting fiscal concerns in France, coupled with a severe sell-off in the bond market, raised fears of contagion across the region.
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Greenback surges to 17-month high as bond selloff rattles Euro

The US Dollar was on track for a third consecutive weekly gain on Friday, supported by a global bond selloff fuelled by inflation concerns over higher oil prices and mounting worries about France’s fiscal position. Meanwhile, the Euro remained near a 17-month low.
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Dollar hits fresh three-month high as yields support greenback

The US Dollar climbed to a more than three-month high on Thursday, underpinned by a sustained rise in US Treasury yields. The increase in yields has been partly fuelled by concerns that the US-Israeli conflict with Iran could keep global price pressures elevated.
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About

deVere Group – Foreign Exchange’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines.

Contact

Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Group – Foreign Exchange’s Head of Public Relations on [email protected] or call +44 2071220925.