Financial Markets Update 13/07/2017

The FTSE 100 is called to open 2 points higher at 7418.

UK Gilt 10 Year Yield 1.259 Spot Gold $1223.03 +2.44 Brent Crude $47.77 -0.86

$ per £ 1.2913

€ per £ 1.1280

$ per € 1.1447

U.S. stocks closed broadly higher Wednesday, led by solid gains in big technology companies. Investors welcomed remarks from Federal Reserve chair Janet Yellen before a Congressional committee. Yellen raised the possibility that the Fed would consider slowing the pace of its interest rate increases if inflation remains persistently below its target level. The Standard & Poor's 500 index rose 17.72 points, or 0.7 percent, to 2,443.25. The Dow Jones industrial average gained 123.07 points, or 0.6 percent, to 21,532.14, a record. The Nasdaq composite added 67.87 points, or 1.1 percent, to 6,261.17. The Russell 2000 index of smaller-company stocks picked up 11.27 points, or 0.8 percent, to 1,424.32.

PRESS COMMENTARY

Investments in private tech companies in Asia have topped those in the US for the first time following a series of giant funding rounds backed by investors keen to cash in on the region’s surging digital markets, FT.

 COMPANY NEWS

ASOS PLC reported a 32% rise in retail sales for the four months ended June 30, and said it expects sales for the year to be at the upper end of the 30%-35% range.

Babcock International Group PLC said the financial year from April 1, has begun well in line with the group's expectations.

Premier Oil PLC exceeded its half year production guidance, lowered its cash cost and said it will update its guidance for the full year once the summer maintenance programs have been completed.

BTG PLC' strong performance has continued into the new financial year and the company is on track to achieve its product sales growth target in fiscal 2018, the global specialist healthcare company's CEO said.

Saint-Gobain Estimates Cyber Attack Impact On 1H Sales At 1%.

N Brown Group PLC expects to pay between 35 million pounds ($45.2 million) and GBP40 million compensation to customers that were sold certain flawed insurance products between 2006 and 2014.

Game Digital PLC said that Sports Direct International PLC acquired 44 million shares, equivalent to 25.75% of the share capital of the group.

Alstom 1Q Sales Rise 6% Y/y, Maintains 2020 Targets.

Storebrand Second Quarter Net Income Beats Highest Estimate.

Casino’s France Same-Store Sales Rise 1.8% in 2Q, Led by Food.

Oxford Biomedica to Benefit as Novartis Drug Wins FDA Pane.

Reckitt to File Its First CBCR Tax Return to UK’s HMRC by Dec. Source Quilter Cheviot

Pensions and Investment advice in Spain