UK shares rise on U.S. fiscal cliff resolution

Note: This section contains information in English only.
Source: Dukascopy Bank SA
European shares gained on rising optimism the U.S. lawmakers will reach consensus on the new budget. However, ECB forecasts for 2013 might be a threat for the stock market, as Draghi said he expects a slowdown in the pace of economic growth in the Eurozone next year. The ECB left the interest rate unchanged a record low level of 0.75%. Moreover, the Bank of England kept the benchmark interest rate unchanged and refrained to launch more monetary stimulus. The UK shares also advanced 0.24% to 5,906.37 by 15:22 GMT, despite disappointing data on Britain's trade deficit as the goods trade gap surged to 9.54 billion pounds, considerably exceeding the initial forecast of a -8.7 billion pounds trade gap. Five out of nine sectors within the index advanced. The sector that increased the most was Telecommunications with a 1.13% increase and Basic Materials with 9.9% advance in the leading positions. Vedanta resources ranked first among the best performing companies, while Eurasian Natural resources and Antofagasta jumped 9.9% and 7.3%, respectively. Vedanta Resources gained after it made an application for a block listing of 150,000 Ordinary shares of $0.10.


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Thu, 06 Dec 2012 16:37:33 GMT

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