The FTSE 100 traded 1.20% higher at 7,036 and the GBP/USD was up 0.03% at 1.28191 after the UK’s Prime Minister Theresa May’s Brexit deal was signed off over the weekend, a step forward in the “Brexit Deal” camp. Energy and banking sectors were the leaders today.
Economic data for the housing market saw an unexpected rise in activity in October. Gross mortgage lending to the residential market was £25.5bn – 5.6% better than October 2017. Mortgage approvals for house purchases were also higher beating economic forecasts at 45,289. However, the total number of mortgage approvals was lower.
Credit card spending increased in October, up 12.1% at £11.3bn.
Following on from Black Friday’s event, retail analysts Springboard discovered that there was an increase in online transactions by 46%.
The banking sector led the gains on Monday thanks to the Brexit deal struck over the weekend and the Italian government agreed to curb spending which in turn relieved lenders that have large sovereign bond portfolios.
Oil prices pushed equity markets lower last week, and have reversed some of the losses back on Monday. U.S. crude futures traded higher by more than 2% to trade above $51 a barrel, while Brent crude surged nearly 3% to above $60. However, fears over global economic growth and further indications of increasing supply put a limit on the gains.
Over in the US stocks were trading higher thanks to the expectations of higher sales during Black Friday and Cyber Monday. Amazon traded 3.3% higher on the back of this. The S&P500 was also higher by 1.45% at 2,670.66.
C L O S E D P R I C E S (As of 16:30 GMT)
FTSE 100 (C)
CAC 40 (C)
T O P P E R F O R M E R S (UK)
Current price (p)
Wood Group (John) Plc
Vodafone Group plc
Rolls Royce Holdings Plc
Wood Group YTD
W O R S T P E R F O R M E R S (UK)
List, images and explain why they are top performers
Current price (p)
Just Eat plc
Paddy Power Betfair plc
Royal Mail PLC
Melrose Industries plc
Burberry Group plc
Just Eat YTD
Paddy Power Betfair YTD
Royal Mail YTD
Burberry Group YTD
I M P O R T A N T N E W S / E V E N T S T O M O R R O W
US Data | 15:00 GMT | High Impact |Consumer Confidence | Estimated: 135.9 | Previous 137.9
Significance: Higher consumer confidence correlates with higher consumer spending which is a positive factor in a growing economy. Less confidence = less spending.
Company Earnings | FTSE 100 | Intertek Group PLC
Company Earnings | S&P 500 | Salesforce.com
RISK DISCLOSURE Our service includes products that are traded on margin and carry a risk of losses which could be equal to your entire investment. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved. Click here to read the full Risk Warning. All website content is published for educational informational purposes only. Past performance is not a guide to future performance. The performance quoted may be before charges which will have the effect of reducing illustrated performance.
ADVERTISING DISCLOSURE In accordance with FTC guidelines, alphaexcapital.com has financial relationships with some of the products and services mentioned on this website, and alphaexcapital.com may be compensated if consumers choose to click these links in our content and ultimately sign up for them. Your support will be greatly appreciated.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.