Market overview: Commodities and EM-related stocks lead rebound
1630:Close Commodities-related and emerging market facing shares led gains on Monday as news broke the US, Japan and 10 other Pacific rim countries had inked a controversial and sweeping trade agreement covering about 40% of the world economy. That came amid weaker than expected readings on the services sector in both the euro area and the UK. A weekend report suggested that Glencore might be ready to contemplate a sale of the entire company.
FTSE 100
8,109.32
16:35 18/11/24
FTSE 350
4,473.50
17:09 18/11/24
FTSE All-Share
4,431.13
16:49 18/11/24
Glencore
383.45p
17:15 18/11/24
Mining
10,989.78
17:09 18/11/24
1500: ISM non-manufacturing gauge retreated to a reading of 56.9 for September from 59 in the month before (consensus: 56).
1430: BofA have reportedly pushed back their forecast for the first hike in Bank Rate to May 2016 from February. Now they only anticipate two rate increases, instead of three.
1230: Three month copper futures are jumping 1.2% to reach $5,134.25 per metric tonne on the LME.
1137: Analysts at Nomura have pushed back their forecast for the first increase in Bank Rate to May 2016 from February 2016.
1000: Retail sales volumes in the euro area increased at a 2.3% year-on-year clip in August (consensus: 1.7%).
0930: Activity in the UK services sector slowed sharply in September, retreating to a print of 53.3 from the previous month´s level of 55.6 (consensus: 56).
0910: Stocks have begun the morning higher, riding on the coattails of Friday´s gains on Wall Street which saw the S&P 500 register its biggest intra-day turn around in four years. Glencore is at the top of the leaderboard following reports of healthy interest in its agriculture business. Furthermore, according to the Sunday Telegraph the company´s management would be open to a hypothetical sale of the comapny if the price were right. FTSE 100 up by 97.16 points to reach 6,224.22.