Positive news for the UK this morning, as second quarter GDP figures showed an 0.8% increase, with the UK economy now at its biggest size since the Recession. The FTSE 100 rose after the good news and is currently up 4.47 at 6,825.93, with Sterling also up slightly against the Euro at €1.2622. In the US, the S&P500 hit a fresh record high of 1,991.39 yesterday, with the 2000 level continuing to remain elusive; buoyed by the news, the Nikkei rose by 1.13 and closed at a six month high of 15,457.87
In stocks news, there were further gains for Facebook as the social networking firm continued to rise in the wake of positive Q2 2014 earnings. Shares were up by 5.18% at the close at 74.98. By contrast, Amazon saw its shares drop by 10% (over $16 billion) after the firm reported a quarterly net loss of $126 million, almost double that originally expected. The firm has been going through a period of rapid growth, with recent projects including its Fire Smartphone, due to be released in the US today.
In takeover news, BSkyB, the market leader in the British pay-TV market, has agreed a deal to pay £2.45 billion for Sky Italia and £2.9 billion for a 57% stake in Sky Deutschland. The firm will be hoping to replicate its UK success in the burgeoning pay-TV markets of Germany and Italy.
Positive news for the UK this morning, as second quarter GDP figures showed an 0.8% increase, with the UK economy now at its biggest size since the Recession. The FTSE 100 rose after the good news and is currently up 4.47 at 6,825.93, with Sterling also up slightly against the Euro at €1.2622. In the US, the S&P500 hit a fresh record high of 1,991.39 yesterday, with the 2000 level continuing to remain elusive; buoyed by the news, the Nikkei rose by 1.13 and closed at a six month high of 15,457.87
In stocks news, there were further gains for Facebook as the social networking firm continued to rise in the wake of positive Q2 2014 earnings. Shares were up by 5.18% at the close at 74.98. By contrast, Amazon saw its shares drop by 10% (over $16 billion) after the firm reported a quarterly net loss of $126 million, almost double that originally expected. The firm has been going through a period of rapid growth, with recent projects including its Fire Smartphone, due to be released in the US today.
In takeover news, BSkyB, the market leader in the British pay-TV market, has agreed a deal to pay £2.45 billion for Sky Italia and £2.9 billion for a 57% stake in Sky Deutschland. The firm will be hoping to replicate its UK success in the burgeoning pay-TV markets of Germany and Italy.
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