Market overview: IAG leads to the downside
1630:Close UK stocks retreated on Friday following mixed economic data out Stateside and a weaker than expected reading on consumer prices in the Eurozone. IAG dropped by the most on the top flight index, weighed down by a retreat in shares of IAG. Some investors may have been put off by a report from analysts at Liberum according to whom a bid from Qatar Airways for the whole of IAG is not likely to happen. Randgold Resources and Fresnillo led to the upside, tracking gains in the price of gold. Overnight, GfK reported that its consumer confidence index for the UK jumped by five points in January to a reading to one, although it added that it remains to be seen if consumers are finally benefitting from the recovery. The latest figures on mortgage approvals for December came in ahead of forecasts, although the data on mortgage lending was slightly weaker than forecast. FTSE 100 down 61.20 points to 6,749.40.
BT Group
105.40p
16:40 19/04/24
Bwin.party Digital Entertainment
124.00p
16:49 28/01/16
Fixed Line Telecommunications
1,784.13
17:09 19/04/24
FTSE 100
7,895.85
16:59 19/04/24
FTSE 250
19,391.30
17:09 19/04/24
FTSE 350
4,341.08
17:09 19/04/24
FTSE All-Share
4,296.41
17:08 19/04/24
Travel & Leisure
7,521.61
17:10 19/04/24
1500: The University of Michigan's gauge of consumer confidence for the end of January has printed at 98.1, in comparison to forecasts for a reading of 98.2.
1445: The regional MNI Chicago purchasing managers' index rose to 59.4 points in January from 58.8 in the prior month. The consensus estimate had been for it to dip to 57.5.
1403: Fed's Bullard says expectations for interest rate hikes in the US are too dovish at the moment. He sees lift-off coming in June or July.
1330: US gross domestic product slowed to a 2.6% clip in annualised terms in the last quarter of 2014, from the 5% pace seen in quarter three (consensus: 3%).
1130: bwin.Party says net revenue and cash-flow in 2015 will be €15m lower, sending the stock promptly lower.
1055: The Bank of Russia has unexpectedly cut interest rates.
1000: The Eurozone’s consumer price index slipped at a 0.6% year-on-year pace in January, following a drop of 0.2% last month (consensus: -0.5%). However, the rate of unemployment in the single currency area slipped to 11.4% in December from 11.5% (consensus: 11.5%).
0930: Mortgage approvals hit 60,300 in December according to the latest data from the Bank of England (consensus: 59,000), in comparison to the prior month’s reading of 59,000. Net consumer credit increased by £600m in comparison to November’s £1.2bn. Economists had been expecting a print of £600m.
0900: Spain’s gross domestic product sprinted ahead at a 0.7% quarter-on-quarter clip over the last three months of last year, coming in well ahead of the 0.5% rise which analysts had been expecting.
0830: Stocks have started the morning lower despite the overnight gains logged by Wall Street. Shares in BT Group are at the bottom of the pile. Although the company confirmed guidance it reported a 3% drop in revenues.