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Market Round-up 29.07.14 – 09:00hrs CET

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Market Round-up 29.07.14 – 09:00hrs CET

Russia ordered to pay $50bn damages to former shareholders of the Yukos oil company.
The Yukos decision came as momentum continued to build for wider sanctions against whole sectors of the Russian economy, which could be announced on Tuesday. Moscow said it would pursue all legal avenues for trying to get it “set aside”.

US claims Russia violated nuclear treaty.
The United States accused Russia of violating a historic nuclear test ban treaty by testing a ground-launched cruise missile.

Job availability in Japan hit its highest in 22 years.
Companies grew more confident about hiring, and household spending rebounded modestly – reinforcing expectations economic recovery will resume in the third quarter.

Lloyds has been criticised for “highly reprehensible” behaviour by the Bank of England.
The state-backed bank was on Monday ordered to pay £226m as part of a settlement with US and UK authorities, including £218m of fines for manipulating key benchmark interest rates and £7.8m in compensation to the BoE.

London’s Gherkin building is up for sale.
Administrators who hope to attract bids of at least £650m, after the Gherkin fell into receivership this year as debts secured against the building soared.

Bank of Cyprus has raised €1bn by selling shares to investors.
Buyers included Wilbur Ross, the US private equity specialist, and the European Bank for Reconstruction and Development.

Panasonic has reached a basic agreement with Tesla Motors.
Panasonic will likely invest about 20 billion yen to 30 billion yen to supply the electric car maker’s proposed lithium-ion battery plant with machinery to make battery cells, according to the Nikkei.

OVERNIGHT TRADING
Asian markets
Nikkei 225 up +95.65 (+0.62%) at 15,625
Topix up +3.66 (+0.28%) at 1,290
Hang Seng up +64.78 (+0.27%) at 24,493
ASX 200 up +0.91 (+0.02%) at 5,578

US markets
S&P 500 down -9.64 (-0.48%) at 1,978
DJIA up +22.02 (+0.13%) at 16,983
Nasdaq down -4.65 (-0.10%) at 4,445

European markets
Eurofirst 300 down -2.50 (-0.18%) at 1,370
FTSE100 down -3.48 (-0.05%) at 6,788
CAC 40 up +14.22 (+0.33%) at 4,345
Dax down -45.84 (-0.48%) at 9,598

Currencies
€/$ 1.34 (1.34)
$/¥ 101.94 (101.85)
£/$ 1.70 (1.70)
€/£ 0.7912 (0.7912)

Commodities ($)
Brent Crude (ICE) down -0.14 at 107.43
Light Crude (Nymex) down -0.34 at 101.33
100 Oz Gold (Comex) at 1,303
Copper (Comex) at 3.23

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

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Stronger UK GDP sends Sterling to 6-week high against Euro

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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.