BoE Due to Release Quarterly Inflation Report, Brent and US Crude Oil Prices Surge
May 13, 2015 7:06 am
Asian shares advanced on Wednesday despite another set of disappointing Chinese economic reports, as investors instead focused on hopes of further stimulus from Beijing to prevent a sharper slowdown in the world’s second-largest economy. U.S. stocks ended lower on Tuesday after a recent run-up in global bond yields unsettled investors already concerned about an eventual Federal Reserve interest rate hike. The Dow fell 36 points to close at 18,068, the S&P500 lost 6 points to close at 2,099.
Sterling edged up about 0.1% on the day to $1.5683 as investors awaited the Bank of England’s quarterly inflation report later on Wednesday. It rose as high as $1.5710 overnight, its loftiest peak since mid-December. The Euro climbed to $1.1216 from $1.1134, but was well short of retesting a two-month peak of $1.1392 set last week. The Greenback dipped to 119.87 Yen, from Tuesday’s high of 120.28. Still, it remained stuck in a 118.500-120.845 range seen since April.
Brent was up 0.7% at $67.35 a barrel after rallying 3% on Tuesday, while U.S. crude built upon a 2.5% overnight surge to tack on another 1% to $61.36.
Within the equity space, Compass Group, the world’s biggest catering firm reaffirmed its full-year expectations after posting a 5.7% rise in half-year revenue due to strong demand in North America and a return to growth in Europe and Japan. The stock is however bottom of the FTSE100 down 3.5% trading at 1118p per share.
Asian shares advanced on Wednesday despite another set of disappointing Chinese economic reports, as investors instead focused on hopes of further stimulus from Beijing to prevent a sharper slowdown in the world’s second-largest economy. U.S. stocks ended lower on Tuesday after a recent run-up in global bond yields unsettled investors already concerned about an eventual Federal Reserve interest rate hike. The Dow fell 36 points to close at 18,068, the S&P500 lost 6 points to close at 2,099.
Sterling edged up about 0.1% on the day to $1.5683 as investors awaited the Bank of England’s quarterly inflation report later on Wednesday. It rose as high as $1.5710 overnight, its loftiest peak since mid-December. The Euro climbed to $1.1216 from $1.1134, but was well short of retesting a two-month peak of $1.1392 set last week. The Greenback dipped to 119.87 Yen, from Tuesday’s high of 120.28. Still, it remained stuck in a 118.500-120.845 range seen since April.
Brent was up 0.7% at $67.35 a barrel after rallying 3% on Tuesday, while U.S. crude built upon a 2.5% overnight surge to tack on another 1% to $61.36.
Within the equity space, Compass Group, the world’s biggest catering firm reaffirmed its full-year expectations after posting a 5.7% rise in half-year revenue due to strong demand in North America and a return to growth in Europe and Japan. The stock is however bottom of the FTSE100 down 3.5% trading at 1118p per share.
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