United kingdom Daily news: FTSE LIVE: Pound falls against the euro as UK economy slumps back into recession

Rabu, 25 April 2012

FTSE LIVE: Pound falls against the euro as UK economy slumps back into recession

FTSE LIVE: Pound falls against the euro as UK economy slumps back into recession

By This Is Money Reporters

PUBLISHED: 02:36 EST, 25 April 2012 | UPDATED: 09:41 EST, 25 April 2012

15:45: The Footsie is trading 13.43 points higher, or 0.24 per cent, at 5722.92 points.

Johnston Press saw its shares drop more than four per cent to 5.51p today as it said it made a loss last year. Read more here .

In New York, the Dow Jones jumped 89.4 points to 13,091 after forecast-beating results from Apple cleared away a weeks-old market overhang and lifted optimism in an earnings season already far outstripping expectations.

Quarterly profit at Apple almost doubled after a jump in iPhone sales. Read more here.

13:30:

The Footsie is up 9.13 points, or 0.16 per cent, at 5,718.62.

12:00:

The FTSE 100 is trading 14.20 points higher, or 0.25 per cent, to 5722.46.

Sports Direct, which could pay its boss a one-off shares bonus worth around Â£24million, said group sales rose by 13 per cent. Its shares rose 6.95p, or 2.44 per cent, to 291.95p. Read more here.

10:45:

Sterling retreated from a seven-month high against the dollar and fell against the euro after official data showed the UK economy had slumped back into recession. Read more here.

The Footsie has extended gains, moving 19.62 points higher to 5729.11.

Meanwhile, Premier Foods called on British shoppers to support the economy by buying products made in the UK. It said sales of its eight leading brands rose in the three months to March 31. Read more here.

8:30:

Britain's top shares pushed higher in early deals, extending yesterday's rally in tandem with gains on Wall Steet and in Asia, led by strength in the banking sector as investors looked to the outcome of the latest U.S. Federal Reserve policy meeting and hopes for hints on further liquidity injections.

The FTSE 100 index was up 17.43 points, or 0.31 per cent, at 5,726.76. Yesterday it closed up 43.92 points, or 0.8 per cent at 5,709.49, recovering around half of Mondayâ€™s 1.8 per cent drop.

Banks provided the biggest boost for the blue chips, with Barclays among the best performers, up 1.8 percent ahead of its first-quarter results due on Thursday, the first of the domestic sector's reporting season.

British first-quarter preliminary GDP data, due to be released this morning, is expected to show the country close to - if not in - its second recession since the financial crisis started.

March durable goods orders will also be released today but the main focus will be on the latest pronouncements from the U.S. Federal Reserve following the FOMCâ€™s latest 2-day meeting, with an announcement on interest rates and liquidity injections due after the London marketsâ€™ close.

Brent crude stayed above $118 a barrel today as investors marked time ahead of the outcome of the policy meeting by the U.S. Federal Reserve, with some investors hoping to hear hints of further monetary easing in the worldâ€™s top oil consumer.

London copper fell half a percent, reversing gains from the previous session as decent European government bond sales boosted risk appetite, as investors cautiously await the outcome of a U.S. central bank policy meeting.

Stocks to watch today include:

State-backed RBS wants to slash the number of shares it has in issue to reduce price volatility and enable a more consistent valuation of the bank.Â

Lloyds Banking Group has launched the sale of its 360million euros portfolio of Irish property loans as the government-controlled lender pushes to shed the legacy of its ill-timed takeover of HBOS, the Financial Times said.

A phone-hacking scandal that has rocked Rupert Murdochâ€™s media empire piled more pressure on British Prime Minister David Cameron with the revelation that one of his ministers gave News Corp executives highly sensitive details to help a controversial merger.

Glaxosmithkline reports first-quarter results.

Standard Life and Premier Foods issue a first-quarter trading update.

Stagecoach Group issues a trading update.

Johnston Press posts full-year results.