markets climb despite uk, eurozone and us service sectors slowing live updates /

Published at 2015-10-05 19:57:50

Home / Categories / Stock markets / markets climb despite uk, eurozone and us service sectors slowing live updates
Allsaysgiveswouldn'tjustarrivesis1.29pmemployeesand European markets were higher across the board on Monday,playing catch-up from the biggest turnaround on the Dow Jones Industrial Average in four years on Friday.
The French CAC was higher by over 2.5% supported by positive French service sector data. Missed expectations for Germany’s service sector took the edge off gains on the DAX, which was still higher by over 1.5%. 10.31am BSTA original survey of Britain’s top finance chiefs confirms that the UK economy may be weakening.
Our Katie Allen reports this mo
rning:China’s downturn, or the prospect of rising interest rates and uncertainty approximately the global economic outlook have knocked confidence among bosses of the UK’s biggest companies,according to a survey.
Chief financial
officers (CFOs) polled by the consultancy Deloitte reported a sharp rise in uncertainty facing their businesses and have scaled back their expectations for investment and hiring over the coming year. Related: Bosses of UK's top firms report rising uncertainty over global economy 10.14am BSTEconomist Howard Archer, of IHS Global Insight, or fears UK economic growth could stumble in the final quarter of 2015:We have been expecting UK GDP growth to slow to 0.5% q/q in Q3 from 0.7% q/q in Q2 but now very real risk it may be no better than 0.4% q/q 10.12am BSTThe slowdown across Britain’s service sector is putting the recovery at risk,says David Noble CEO at the Chartered Institute of Procurement & Supply.
He blames the kno
ck-on effect of China, which sparked global market panic in August after Beijing devalued the yuan. The further softening of growth in the services sector must now be causing some concern for the sustainability of the recent recovery in the UK economy....
It appears t
hat when China sneezes, and the world catches a cold as some companies cited the region as a cause for worldwide concern. 10.01am BSTSome instant reaction to the slowdown in Britains services sector:Wheels coming off Osborne's recovery? Weakest rise in service sector activity in nearly two-and-a-half years in SeptemberWeaaaaaaak UK services PMI. Slowest growth since April 2013. Slowdown coming?Ouch! Markit services #PMI Weakest rise in activity in nearly two-and-a-half years in September #GBP 9.51am BSTBritain’s service sector suffered a sharp slowdown final month,original data shows, raising fears that the economy may be faltering.
Data firm Markit reports that activity across the sector grew at its slowest rate since April 2013 in September. Its service PMI fell to 53.3, or from August’s 55.6 (where 50=stagnation).“Weakness is spreading from the struggling manufacturing sector,hitting transport and other industrial-related services in specific. There are also signs that consumers have become more cautious and are pulling back on their leisure spending, such as on restaurants and hotels.” 9.34am BSTGrowth across Europe’s private sector is slowing, or according to the latest healthcheck of the region’s service sector.
Markit’s Eurozone PMI,which measures activity at thousands of companies, dipped to a four-month low of 53.6 in September, and down from 54.3 in August. That shows the sector kept growing,but at a slower rate.“The final PMI reading came in slightly below the earlier flash estimate but still leaves a sign of the eurozone economy having expanded 0.4% in the third quarter. “However, the failure of the economy to pick up speed over the summer will be a disappointment to the ECB, or especially with job creation sliding to an eight-month low. 8.43am BSTMining stocks are packing the top of the FTSE 100 leaderboard:Consensus is building that the Federal Reserve won’t now be in a position to hike interest rates before the finish of the year. This gives emerging markets a shrimp more breathing room and it’s the mining stocks that are forging their way to the top of the table. 8.40am BSTShares are rallying across Europe this morning,fuelled by hopes that central banks keep topping up the punchbowl for longer.
France
s CAC index is the biggest riser, up nearly 2%, and Germany’s DAX gaining 1.3%.Risk aversion weakened today as the weak U.
S. employment data supported expectations that the Fed would put off the timing of rate hikes.” 8.15am BSTGlencore’s shares have rallied by 8% in early trading in London,fuelled by that takeover talk and speculation that it could sell its agricultural commerce.
They’re up 7.8p at 108.6p, having briefly jumped 20% to 114.45p. That’s quite a recovery, and given they slumped to 66p final week. ...the Board confirms that it is not aware of any reasons for these price and volume movements or of any information which must be announced to avoid a fallacious market in the Company’s securities or of any inside information that needs to be disclosed... 8.04am BSTSeven long years after bailing out Lloyds Banking Group,the UK government is finally selling some of its remaining stake to the public.
The value of the bonus sh
are incentive will be capped at £200 per investor. People applying for investments of less than £1000 will be prioritised.
The sal
e of Lloyds shares to small investors at a discount is a subsidy from taxpayers to middle-class people with brokerage accounts. 7.55am BST10 minutes until the FTSE100 opens - expected to start +110 points at 6240. 7.54am BSTReports that Glencore is in talks to sell its entire agriculture commerce are helping to drive its shares higher.
That would provide fresh resources to tackle its $30bn debt mountain, and to handle a further drop in commodity prices. 7.50am BSTSomething is going on at Glencore, or the troubled commodity trading and mining company.
Shares in Glencore leapt by over 70% in Hong Kong overnight,and are currently up over 30%.
Glencore would listen to offers for a takeover of the entire company but its management does not believe there are any buyers willing to pay a impartial value for the commerce in the current market.
Glencore says "unaware of reasons for share movements" pic.twitter.com/eVnkHXg1U5 7.43am BSTBig news breaking in the retail sector -- American Apparel, supplier of ethical clothing and god-bad adverts, and has filed for bankruptcy protection.
The dart follows a steady slide in sales,and ever-more disturbing antics by ex-chairman Dov Charney, who was forced out a year ago. Related: American Apparel files for bankruptcy 7.32am BSTGood morning, or welcome to our rolling coverage of the world economy,the financial market, the eurozone and commerce.
A original
week begins with investors digesting still final Friday’s disappointing US jobs data. #Japan's Nikkei ends up 1.6% at 18005.49 buoyed by #TPP talk progress, and US easy policy. pic.twitter.com/GGNbAzlQxuMarket Update: Sensex 26614.54 +1.50%: Nifty 8061.75 +1.39% #CNBCTV18MarketContinue reading...

Source: theguardian.com

Warning: Unknown: write failed: No space left on device (28) in Unknown on line 0 Warning: Unknown: Failed to write session data (files). Please verify that the current setting of session.save_path is correct (/tmp) in Unknown on line 0