Investor Alert

New York Markets Open in:

London Markets Archives | Email alerts

June 6, 2019, 9:45 a.m. EDT

London markets higher, but gains pared as ECB’s rate stance disappoints

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    FTSE 100 Index (UKX)
  • X
    British Pound (GBPUSD)
  • X
    Rolls-Royce Holdings PLC (RR)

or Cancel Already have a watchlist? Log In

By David Morris


iStock

London markets stayed positive, but pared gains Thursday amid some disappointment over the speed of monetary easing in Europe.

How did markets perform?

The U.K.’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -1.55%  rose 0.4% to 7,248.17. It had edged up 0.1% Wednesday.

The pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.2831%  rose 0.2% to $1.2708, after nudging 0.4% higher Wednesday.

What’s moving the markets?

The European Central Bank on Thursday left interest rates unchanged, and extended the period it expects rates to remain on hold through at least the first half of 2020. The ECB had previously indicated rates would remain on hold through the end of 2019. It also announced the terms of its third round of targeted longer-term refinancing operations.

U.S. President Donald Trump tweeted an update on discussions in Washington, D.C. with representatives of the Mexican government, saying that “progress is being made, but not nearly enough”. The U.S. will levy tariffs on Mexico starting Monday, barring a breakthrough.

The International Monetary Fund revised down its GDP expectations for China to 6.2% for 2019 and 6% for 2020, reflecting the potential impact of trade tensions with the U.S. Managing Director Christine Lagarde told Reuters that the international body’s base case was that tariffs might dampen growth but would not tip the global economy into recession.

Which stocks are active?

Rolls-Royce Holdings PLC /zigman2/quotes/203646520/delayed UK:RR -4.00%  shares moved 1.5% higher on news its pensions unit had struck a £4.6 annuity deal with Legal & General Group PLC /zigman2/quotes/201125471/delayed UK:LGEN -1.01% , the insurance company.

Entertainment One Ltd.  rebounded 15.1% after issuing a statement refuting a Variety article saying Mark Gordon, President and Chief Content Officer of EOne’s film and TV unit, was in talks to exit his role. Shares had fallen 17% Wednesday after the initial Variety report.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,089.83
-95.79 -1.55%
Volume: 219,600
Aug. 14, 2020 12:42p
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.3105
+0.0037 +0.2831%
Volume: 0.0000
Aug. 14, 2020 7:57a
loading...
/zigman2/quotes/203646520/delayed
UK : U.K.: London
257.00 p
-10.70 -4.00%
Volume: 2.51M
Aug. 14, 2020 12:41p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£5.24 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201125471/delayed
UK : U.K.: London
226.20 p
-2.30 -1.01%
Volume: 3.11M
Aug. 14, 2020 12:41p
P/E Ratio
10.92
Dividend Yield
7.77%
Market Cap
£14.06 billion
Rev. per Employee
N/A
loading...

Get news alerts on British Pound — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.