News 

FTSE 100 scores third straight win after weak retail sales throw August rate hike into question

“The pound slump and FTSE rise came after a disappointing reading on U.K. retail sales in June” writes Markets Reporter for marketwatch.com. A weaker pound can boost the FTSE 100, as many of the index’s multinational companies generate most of their sales in other currencies.U.K. stocks ended higher on Thursday and the pound tumbled after disappointing British retail sales stoked speculation the Bank of England may refrain from hiking interest rates in August. Source: marketwatch.com Share This:

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FTSE 100 holds steady as traders focus on retail sales data

“Focus is on the retail sales report for June and what it could mean for the path of interest rates” writes Markets Reporter for marketwatch.com. The retail report is due out at 9:30 a.m.That gain came as the pound tumbled, after a disappointing reading on inflation raised doubt that the BOE will lift interest rates next month.U.K. stocks struggled for direction in early trade on Thursday, as traders stayed on the sidelines ahead of a report on retail sales that could influence the case for a Bank of England interest…

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GBP News 

GBP/USD: Political Uncertainty & Soft Inflation Could Push-Back BoE August Hike – MUFG

“The pound was hit by weak inflation that joined political uncertainty and other issues” writes Yohay’s Google Profile for forexcrunch.com. Understandably market participants are building in a higher risk premium into the pound to reflect heightened uncertainty, and the risk premium may need to rise further heading into the year ahead.The one reassuring development for the pound is that the numbers in parliament should still favor a softer Brexit when it comes to the crunch even if the votes this week do not back up our view,” MUFG adds. Source: forexcrunch.com…

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GBP News 

Two drivers mean that the pound is set for a blockbuster finish to 2018

“The rising likelihood of an interest rate hike from the Bank of England at its next meeting in August is also set to boost the previously downtrodden pound” writes Will Martin for businessinsider.com. It isn’t just greater certainty over the shape of Brexit that could drive the pound higher.Markets have been unequivocal in their belief that a soft Brexit is the best option for the UK, with the pound generally appreciating on developments that suggest a softer deal, and tumbling on signs of a harder deal. Source: businessinsider.com Share This:

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Markets News 

Cheese prices crumble…

“Benchmark block cheddar cheese prices settled at $1.5425 a pound on Wednesday in cash trading on the Chicago Mercantile Exchange” writes Markets Commodities Reporter for marketwatch.com. Longer term, however, hope of a turnaround in prices lies in a prolonged global trade dispute that may cause dairy farms to close up, leading to a slowdown in cheese production.Record U.S. supplies of cheese have contributed to a drop in prices this year, and traders predict more of the same for the rest of 2018.Kment believes the large price spread will help support…

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Comcast to pay advisers as much as 243 million pound in fees for Sky takeover

“Legal advice will cost it between 15.2 million pounds and 20 million pounds” reports businessinsider.com. The cable giant will also pay between 22.7 million pounds and 37.8 million pounds to the firms that are providing it with financial advice.Meanwhile, Sky expects to spend between 88.6 million pounds and 95.9 million pounds on advice and other expenses relating to the Comcast offer, the document shows.The broadcaster estimates it will pay Barclays, Morgan Stanley, and boutique firm PJT Partners between 59.5 million pounds and 61.5 million pounds for their financial advice, according…

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The pound drops as Trump threatens to ‘kill’ any post-Brexit trade deal with the UK

“If they do a deal like that, we would be dealing with the European Union instead of dealing with the UK, so it will probably kill the deal,” Trump said” writes Will Martin for businessinsider.com. “If they do that, then their trade deal with the US will probably not be made.”. ET), are hovering at around 0.5% against the dollar — a substantial drop — leaving the pound at around $1.3127.Reuters/Thierry Charlier The pound has dropped significantly Friday after President Donald Trump warned that British Prime Minister Theresa May’s Brexit…

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Markets News 

Asian shares close higher, tracking Wall Street’s rally as trade worries ease

“Markets in Asia closed higher on Tuesday, taking cues from the rally in U.S. stocks as investors temporarily set aside recent trade-related concerns” writes Cheang Ming for cnbc.com. Still the index notched its third consecutive close higher.In Japan, the Nikkei 225 advanced 0.66 percent, or 144.71 points, to close off its intraday high at 22,196.89 after losing around 100 points in the last minutes of trade. Source: cnbc.com Share This:

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GBP News 

British pound frail after key euroskeptic ministers quit

“The British pound was frail on Tuesday after the departure of two key euroskeptic ministers raised worries about a “hard Brexit” while the yen retreated against the dollar as investors bid up riskier assets” writes Matt Cardy I for cnbc.com. “Uncertainty is conquering the market at the moment regarding the possibility of a rate hike in August,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities in Tokyo.The currency regained some ground after several Conservative lawmakers said May is likely safe from a leadership challenge despite the resignation of Boris…

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GBP News 

Asia shares rise for a third day, pound bewildered by politics

“Both the Dow and S&P 500 boasted their biggest gains in more than a month overnight, as bank shares jumped ahead of earnings reports later this week” writes Midwest Communications Inc for 95kqds.com. MSCI’s broadest index of Asia-Pacific shares outside Japan put on 0.4 percent in early trade, adding to a 1.3 percent rise on Monday.Chinese shares were a bit soft with Shanghai blue chips off 0.2 percent after climbing 2.8 percent on Monday for the biggest daily jump since August 2016. Source: 95kqds.com Share This:

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