UK shares move down despite upbeat retail sales in July

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Source: Dukascopy Bank SA
UK stocks extended slump on Thursday ahead of the key US data release due later in the day. Meanwhile, easing expectations weakened amid optimistic US industrial production data released on Wednesday. At the same time, an unexpected increase in the UK retail sales in July provided slight support for the stock index. The FTSE 100 Index sank 0.11% to trade at 5,823.56 at GMT 12:00. Only three in ten sectors advanced. On the upside were basic materials and utilities. Rio Tinto, BHP Billion and Xstrata surged 0.87%, 1.32% and 0.10%, respectively.  In the financial sector stocks were mixed, Standard Chartered declined by 0.67% while Barclays and Lloyds Banking Group added 0.76% and 2.46%. On the downside were technology and telecommunication stocks; Sage Group and BT Group tumbled by 1.66% and 0.55%. Admiral Group was the top-loser after reporting that its SilverBug merged with three company's divisions: Admiral IT, Admiral Network Infrastructure and Admiral Education Solutions

 

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Thu, 16 Aug 2012 16:21:35 GMT

German stocks rise on China's easing speculation

German shares rose slightly on Thursday on positive news from the US and UK. Speculation that China is preparing to ease its prudent monetary policy also boosted German shares. However, fading hopes for QE3 in the US capped the upswing of the equities. The DAX Index added 0.15% to trade at 6,952.63 at GMT 12:00. Seven out of nine sectors

Thu, 16 Aug 2012 15:15:44 GMT

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