FTSE rises but builders fall on leasehold sale ban

House builders have bucked a rising FTSE 100 after the government banned the sale of new homes on a leasehold basis and set new ground rents to zero. The government said it had received ‘an overwhelming response from the public’ after consulting on measures in the summer. It said that while …

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Stocks Edge Higher, Bonds Mixed; Dollar Advances: Markets Wrap

These are the main moves in markets: Stocks. The Stoxx Europe 600 Index sank 0.7 percent as of 7:34 a.m. New York time, the biggest decrease in almost three weeks. The MSCI All-Country World Index dipped less than 0.05 percent. The U.K.’s FTSE 100 Index fell 0.3 percent, the biggest fall in a week.

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FTSE rises but builders fall on leasehold sale ban

House builders fell to the bottom of the FTSE 100 on the news. Berkeley (BKGH) dropped 1.35 to £41.56 and Persimmon (PSN) was down 1.1% at £26.93. The UK blue-chip index was up 30 points, or 0.4%, at 7,555. Hardest hit was retirement house builder McCarthy & Stone (MCS), which fell to the …

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UK November Budget Deficit Lowest Since 2007

The UK budget balance showed its smallest November deficit in a decade, largely due to higher tax income.

Public sector net borrowing excluding public sector banks, decreased GBP 0.2 billion to GBP 8.7 billion in November, data from the Office for Na…

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Santa rally lifts FTSE 100 despite expectations for flat start on Wall Street

The Footsie settled around the day’s highs at lunchtime as the Santa rally kicked in modestly again on the final full session before Christmas, even though US stocks are forecast to start pretty flat after recent record highs. Around midday, the FTSE 100 index was up about 26 points at 7,550, just off the …

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LONDON MARKET MIDDAY: FTSE 100 Supported By US Tax Cut Beneficiaries

LONDON (Alliance News) – The FTSE 100 had reversed some early losses to trade higher by midday Thursday, putting the UK’s leading stock index within sight of the all-time high just … The FTSE 100 index was up 0.3%, or 24.68 points, at 7,549.90 Thursday midday, below its June high of 7,598.99.

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Canadian Dollar Weakens On Falling Oil Prices

The Canadian dollar dropped against its major counterparts in the early European deals on Thursday, as oil prices weakened after the operator of the Forties pipeline announced that it is planning to complete the repair around Christmas.

Crude for Feb…

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Taiwan Retains Key Interest Rates

Taiwan’s central bank kept its key interest rates unchanged on Thursday.

The central bank kept the discount rate at 1.375 percent. The decision came in line with expectations.

The bank said it will closely monitor the current domestic and internati…

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Iceland Inflation Accelerates In December

Iceland’s consumer price inflation accelerated in December after easing in the previous month, figures from Statistics Iceland showed Thursday.

Consumer prices climbed 1.9 percent year-over-year in December, faster than the 1.7 percent rise in Novemb…

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FTSE 100 near session highs on Santa rally; Catalan election eyed

The FTSE 100 index managed to move up a gear in late morning trading on the final full session before Christmas, resuming the Santa rally despite some caution ahead of today’s election in the troubled Catalonia region of Spain. Chris Beauchamp, chief market analyst at IG, commented: “Catalonia’s …

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Are UK markets overstretched?

With the FTSE 100 and All-Share a wee bit below their all-time highs and valuations above average, many fear equities are too high and will soon fall. However, in our view, such worries are misplaced. Valuations aren’t predictive, and markets routinely set all-time highs during bull markets. We expect …

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Ireland Factory Gate Prices Fall Further

Ireland’s factory gate prices declined for the sixth consecutive month in November, and at a faster pace than in the previous month, figures from the Central Statistics Office showed Thursday.

The manufacturing industries output price index, excludin…

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Will FTSE 100 finish year with a flourish?

Past experience has taught, doing a “FTSE for…” when the day is effectively Xmas eve (the London Stock Exchange always shuts at lunchtime the last working day before Christmas) will be an exercise in futility. Normally, the holiday morning spends the session doing nothing until the final few minutes, …

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Smartest Beta? [PREMIUM]

What is the smartest way (having the lowest prediction errors) to estimate market beta across stocks for the purpose of portfolio construction? In their November 2017 paper entitled “How to Estimate Beta?”, Fabian Hollstein, Marcel Prokopczuk and Chardin Simen test effects of different return sampling frequencies, forecast adjustments and model combinations on market beta prediction accuracy across the universe More

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Greece Current Account Deficit Widens In October

The Greece current account deficit increased notably in October from a year ago, the Bank of Greece reported Thursday.

The current account deficit climbed to EUR 624.1 million in October from EUR 267.9 million in the corresponding month last year.

T…

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Denmark Retail Sales Rebound In November

Denmark’s retail sales increased in November after falling in the previous month, preliminary figures from Statistics Denmark showed Thursday.

Retail trade turnover rose a seasonally and price-adjusted 1.3 percent month-over-month in November, in con…

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Santa rally continues as FTSE reaches all-time high

The FTSE 100 has reached a new all-time high, rising 81 points to 7,607 in the run-up to the Christmas break. “There is no specific catalyst for the latest move higher which has seen a rise of almost 1% on the day, with favourable seasonality effects probably playing an important role,” said David …

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Hong Kong Inflation Accelerates For Second Month

Hong Kong’s consumer price inflation accelerated for the second straight month in November, though slightly, figures from the Census and Statistics Department showed Thursday.

The consumer price index climbed 1.6 percent year-over-year in November, j…

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UPDATE: FTSE 100 searches for direction after gloomy UK consumer updates

On Wednesday, the benchmark fell 0.3% (http://www.marketwatch.com/story/ftse-100-adrift-after-hitting-6-week-high-with-imf-to-discuss-view-on-uk-economy-2017-12-20) and snapped a three-session run of wins. The British pound bought $1.3365, down slightl…

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FTSE 100 ticks higher, pound edges up; UK public finance data benign

The ONS data, however, did little to stir financial markets on the last full trading day before Christmas. Sterling remained fairly moribund, just edging higher against both the dollar and the euro, at US$1.3384 and €1.1267 respectively. Meanwhile, the FTSE 100 index was around 8 points higher at 7,532, …

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