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FX round-up: Sterling continues to shine on Brexit deal, greenback slips again
The pound's month long rally was still very much in play on Thursday as news of a Northern Ireland border resolution deal filtered through.
Thursday newspaper round-up: LSE, Brexit developments, Barclays, iPhones
A vote to oust Donald Brydon, chairman of the London Stock Exchange Group, hung in the balance last night after the rebel hedge fund chief calling for his head declined to back down in the face of an ultimatum from the company. In a day of high drama for the embattled operator of the stock exchange, Xavier Rolet, the chief executive, said he was quitting immediately and would not return under any circumstance. Mr Brydon agreed to leave, too, but only by April 2019.
Commodities: Gold breaks range to trade lower on improved US outlook
Gold managed to break it's tight $7 range on Wednesday, on the back of positive US data, breaking support at $1,291.
London close: FTSE falls as pound rallies, Brexit deal in focus
London stocks closed lower on Wednesday despite a strong showing from banks and housebuilders as the pound rallied on news that a Brexit divorce bill has been agreed, with consumer borrowing figures in focus.
FX round-up: Sterling surges on hopes of a divorce bill settlement
Wednesday saw sterling managing to push higher against the dollar, boosted by optimism surround the divorce bill Britain has agreed to pay the EU in preparation for leaving the bloc.
London close: Footsie climbs as Shell pleases
The top flight index closed higher on Tuesday, with Anglo-Dutch pair Shell and Unilever impressing with their strategy updates but investors having mixed feelings about the Bank of England's stress test results.
Tuesday newspaper round-up: ADS 'misled', IAG, Rio Tinto, oil prices
The aerospace and defence industry is privately angry at being “misled” by ministers over the industrial strategy and being left without a sector deal to get government support. Paul Everitt, chief executive of ADS, the industry lobby group that represents aerospace, defence and security manufacturers, said that he was seeking urgent talks with ministers about the sector’s omission, despite being one of Britain’s largest investors in research and development.
London close: Chinese jitters dent sentiment
London stocks finished lower, weighed down by losses in miners' shares on the back of weak economic data out in China and amid continuing 'market chatter' regarding the potential risks linked to the country's market for corporate debt.
Monday newspaper round-up: Industrial strategy, military spending, house prices
The government is to highlight five key areas where the UK needs to improve its performance when it reveals on Monday the details of a new industrial strategy designed to increase productivity. Greg Clark, the business secretary, will announce the creation of an independent watchdog to monitor progress made in boosting innovation, upgrading infrastructure, increasing the level of workplace skills, ensuring that the strength of the City is reflected in funds for companies and spreading prosperity to all parts of the country.
Sunday share tips: Just Eat, Angling Direct, Workspace
"Sell" Just Eat shares, was the recommendation in the Sunday Times' Inside the City column, a stance it has taken at 420p and 580p. At just under 820p for a market capitalisation of £5. 56bn, the stock is changing hands at a forward p/e ratio of 52, while its physical assets are valued at around £12m. Just Eat has signed up almost 80,000 restaurants around the globe, both small businesses and large chains, where their wares are offered via an online marketplace where hungry households can search for the best curry, pizza or sushi takeaway in their vicinity.
Sunday newspaper round-up: Brexit payment, UK industrial strategy, TV ads, Shell, Lloyds
Theresa May has agreed with Brussels that Britain will hand over more than £40bn when the UK leaves the EU — but keep the final bill secret from the public even when the final deal is done in 2019. EU negotiators said the prime minister had provided a clear assurance to fellow leaders that her cabinet has agreed to pay more money after a crunch meeting last week — paving the way for formal talks on a new trade agreement to be approved at a summit in Brussels next month.
Friday newspaper round-up: Brexit offer, flat pay, insurance, Black Friday
Theresa May will tell Donald Tusk on Friday she is prepared to give ground on the Brexit divorce bill as Brussels demands a written guarantee of more money to unlock trade talks. The European Council President will make it clear to the Prime Minister that Britain must give a “no strings attached” promise of paying substantially more than the current £20 billion on offer. - Telegraph.
Commodities: weaker dollar helps gold stay put
The greenback weakened against a basket of currencies on Thursday with the dollar index dropping 0. 11% to 93. 117 by 1715 GMT, it's lowest level in more than a month.
London close: Stocks higher on UK budget
Shares closed higher on Wednesday as investors sifted through corporate releases as well as the Autumn Budget.
FX round-up: UK trade budget widens as greenback trades on the backfoot
Data out for the UK on Tuesday showed an unexpectedly wider budget deficit, while in the US, the dollar weakened 0. 17% to 93. 923 against a basket of currencies.
Tuesday newspaper round-up: Brexit payment, WTO, term funding scheme, Carillion
Theresa May’s cabinet is prepared to increase its financial offer to the EU in an attempt to break the deadlock in Brexit talks but will make clear that any figure is contingent on the final deal, including the shape of a future trading arrangement. A crunch meeting of the prime minister’s new Brexit sub-committee, set up to discuss the government’s strategy for critical negotiations, agreed to a calculation of the divorce bill that would result in a larger payment.
Monday newspaper round-up: Brexit offer, retail spending, aerospace warning
Ministers are expected to sign off an improved financial offer to the European Union today that Downing Street hopes will unblock the Brexit negotiations. Theresa May will lay out her plans at a meeting of cabinet ministers, including the Leave supporters Boris Johnson, Michael Gove and David Davis. If the proposals are approved, she will present them on Friday to Donald Tusk, the European Council president. - The Times.
London close: Stocks finish week on down note
London's top flight index slipped on Friday, but managed to finish well-off its lows of the session despite renewed Brexit angst as the pound gave back early gains.
London close: Stocks eke out only slight gains
London stocks managed to eke out only slight gains on Thursday, putting the brakes on a two week sell-off but unable to make any real headway as the pound ticked up on the back of the latest UK retail sales figures.
Tuesday newspaper round-up: UK pay, immigration, Brexit, fracking, fake news
The average pay packet in Britain in five years’ time will still be more than £20 lower than it was before the start of the financial crisis as the biggest squeeze on wages since the end of the Napoleonic Wars extends well into a second decade, a leading thinktank has warned. The Resolution Foundation said that the downgrade to Britain’s future productivity performance expected in next week’s budget would have a negative impact on wage growth between now and 2022 and also limit the room for manoeuvre of the chancellor, Philip Hammond.