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US Markets Continue to Regain Ground, Former Tesco CEO to be Interviewed by the Serious Fraud Office
August 28, 2015 5:47 amVideo
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Both Asian and US shares continued their rally after better than expected US GDP figures calmed investors nerves and boosted market sentiment. The Shanghai composite Index gained 1.9% to 3,143.02 points. Yesterday the Dow rose 2.2% to close at 16654 and the S&P500 moved 2.5% higher, closing at 1987.
USD moved further away from Monday’s low of 116.15 to trade around the 121.05 level. The Euro came off its Monday high of $1.1700 and was last seen trading around $1.1258. Sterling fell below $1.5400 for the first time in a month, with Cable (GBP/USD) last trading at around $1.5412. AUD continues to recover from a six and a half year low of $0.7044 touched on Monday and was last seen around the $0.7168 mark.
U.S. crude rose 0.9% to $42.94 a barrel. Brent crude climbed 0.1% to $47.62. Gold was up 0.4% at $1,130 an ounce but still on track for a 2.6 percent loss for the week.
Friday brings more bad news for Tesco as the ousted chief executive is to be interviewed by the Serious Fraud Office over the supermarket group’s £326m accounting scandal. Philip Clarke, who left Tesco last year after a series of profit warnings, is to be interviewed under caution. Tesco stock is 0.2% down trading at 191p per share.
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