Tesco Takes a Tumble (Again), US Indices Fall After Canadian Terror Attack
October 23, 2014 6:13 am
US stocks erased earlier gains overnight due to worse than expected results from Boeing and Biogen coupled with increased terror fears after the shooting at the Canadian parliament. The Dow dropped 153 points closing at 16461 and the S&P500 dropped 14 points to close at 1927. The greenback was slightly up against the yen trading around the 107.20 mark whereas the euro was little changed at $1.2645 trading within reach of a one week low hit overnight. Sterling was down slightly against the dollar, trading at $1.6044 after hitting a one week trough the previous day. Softer than expected inflation data caused the kiwi to fall half a US cent, giving the reserve bank of New Zealand room to further delay its next interest hike. U.S. crude futures slipped in Asia, extending its 2.8 percent fall on Wednesday to trade at $80.46 per barrel, near the two-year low of $79.78 hit last week. Spot gold has edged down slightly with the metal trading around the $1240 level.
In the equity space we see further destruction of the Tesco share price after Britain’s biggest grocer reported a larger than expected hole in its accounts on Thursday, forcing it to scrap its full-year trading profit outlook. The stock at one point was down 7%, it’s now steadied around the 5.5% mark trading at 173p.
Today sees the release of UK Retail sales at 9.30 am with the YOY figure expected to be 2.8% vs 3.9% previous and at 1.30pm the release of US Jobless Claims with the figure expected to be 282k vs. 264 previous.
US stocks erased earlier gains overnight due to worse than expected results from Boeing and Biogen coupled with increased terror fears after the shooting at the Canadian parliament. The Dow dropped 153 points closing at 16461 and the S&P500 dropped 14 points to close at 1927.
The greenback was slightly up against the yen trading around the 107.20 mark whereas the euro was little changed at $1.2645 trading within reach of a one week low hit overnight. Sterling was down slightly against the dollar, trading at $1.6044 after hitting a one week trough the previous day. Softer than expected inflation data caused the kiwi to fall half a US cent, giving the reserve bank of New Zealand room to further delay its next interest hike.
U.S. crude futures slipped in Asia, extending its 2.8 percent fall on Wednesday to trade at $80.46 per barrel, near the two-year low of $79.78 hit last week. Spot gold has edged down slightly with the metal trading around the $1240 level.
In the equity space we see further destruction of the Tesco share price after Britain’s biggest grocer reported a larger than expected hole in its accounts on Thursday, forcing it to scrap its full-year trading profit outlook. The stock at one point was down 7%, it’s now steadied around the 5.5% mark trading at 173p.
Today sees the release of UK Retail sales at 9.30 am with the YOY figure expected to be 2.8% vs 3.9% previous and at 1.30pm the release of US Jobless Claims with the figure expected to be 282k vs. 264 previous.
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