م. علي شتات
12-23-2011, 08:28 PM
U.K. stocks advanced, snapping two successive weekly losses, amid optimism that the U.S. economic recovery will offset the impact of the euro-area debt crisis on global growth.
BP Plc (BP/), the second-biggest oil producer in Europe, gained 2.1 percent as crude headed for its biggest weekly gain in two months. CRH Plc (CRH) rose 1.7 percent in Dublin after a report that the building group bought a roofing business in the U.S.
The FTSE 100 added 55.73, or 1 percent, to 5,512.70 at the 12:30 p.m. early close in London, the last trading session before the Christmas break. The benchmark gauge gained 2.3 percent this week and has rebounded 11 percent from this year’s low on Oct. 4 amid mounting optimism that policy makers will agree measures to end the debt crisis. The FTSE All-Share Index and Ireland’s ISEQ Index climbed 1 percent.
U.S. durable goods orders probably rose 2.2 percent in November, while personal spending increased 0.3 percent, according to the median forecasts of economists surveyed by Bloomberg. The reports are due at 8.30 a.m. Washington time.
“U.S. data is providing what markets have been looking for in terms of a wider economic improvement and rising employment,” said Witold Bahrke, a senior strategist at PFA Pension A/S in Copenhagen, which manages $45 billion.
In the U.K., mortgage approvals unexpectedly fell in November as a darkening economic outlook prompted households to repay rather than add to debt, the British Bankers’ Association said today.
Mortgage Lending
Lenders granted 34,738 loans to buy homes, down from a revised 35,196 in October, the London-based trade group said. From a year earlier, mortgage approvals rose from 29,875.
U.K. 10-year gilt yields fell below 2 percent for the first time today. The yield dropped five basis points to a record low 1.999 percent and was at 2.032 percent at 12:30 p.m.
The FTSE 100 (UKX) yesterday advanced 1.3 percent, the most in December, as U.S. jobs and consumer-confidence data indicated the economy is recovering. Reports today are forecast to show U.S. personal spending, durable-goods orders and new home sales rose in November, after yesterday’s data showed a drop in jobless claims.
BP rose 2.1 percent to 459.70 pence as oil climbed for the fifth straight day in New York. BG Group advanced 1 percent to 1,348.50 pence after the Norwegian Petroleum Directorate said the company made an oil find in the North Sea,
CRH, the Irish building materials group, increased 1.7 percent to 14.96 euros after the Irish Independent reported CRH bought United Products Corp., a U.S. roofing business. The terms of the deal weren’t disclosed, the paper said.
Antofagasta Plc (ANTO), which owns copper mines in Chile, gained 2.4 percent to 1,228 pence as copper advanced for the fourth day.
Lloyds Banking Group Plc (LLOY), the biggest U.K. mortgage bank, declined 0.6 percent to 25.69 pence.
BP Plc (BP/), the second-biggest oil producer in Europe, gained 2.1 percent as crude headed for its biggest weekly gain in two months. CRH Plc (CRH) rose 1.7 percent in Dublin after a report that the building group bought a roofing business in the U.S.
The FTSE 100 added 55.73, or 1 percent, to 5,512.70 at the 12:30 p.m. early close in London, the last trading session before the Christmas break. The benchmark gauge gained 2.3 percent this week and has rebounded 11 percent from this year’s low on Oct. 4 amid mounting optimism that policy makers will agree measures to end the debt crisis. The FTSE All-Share Index and Ireland’s ISEQ Index climbed 1 percent.
U.S. durable goods orders probably rose 2.2 percent in November, while personal spending increased 0.3 percent, according to the median forecasts of economists surveyed by Bloomberg. The reports are due at 8.30 a.m. Washington time.
“U.S. data is providing what markets have been looking for in terms of a wider economic improvement and rising employment,” said Witold Bahrke, a senior strategist at PFA Pension A/S in Copenhagen, which manages $45 billion.
In the U.K., mortgage approvals unexpectedly fell in November as a darkening economic outlook prompted households to repay rather than add to debt, the British Bankers’ Association said today.
Mortgage Lending
Lenders granted 34,738 loans to buy homes, down from a revised 35,196 in October, the London-based trade group said. From a year earlier, mortgage approvals rose from 29,875.
U.K. 10-year gilt yields fell below 2 percent for the first time today. The yield dropped five basis points to a record low 1.999 percent and was at 2.032 percent at 12:30 p.m.
The FTSE 100 (UKX) yesterday advanced 1.3 percent, the most in December, as U.S. jobs and consumer-confidence data indicated the economy is recovering. Reports today are forecast to show U.S. personal spending, durable-goods orders and new home sales rose in November, after yesterday’s data showed a drop in jobless claims.
BP rose 2.1 percent to 459.70 pence as oil climbed for the fifth straight day in New York. BG Group advanced 1 percent to 1,348.50 pence after the Norwegian Petroleum Directorate said the company made an oil find in the North Sea,
CRH, the Irish building materials group, increased 1.7 percent to 14.96 euros after the Irish Independent reported CRH bought United Products Corp., a U.S. roofing business. The terms of the deal weren’t disclosed, the paper said.
Antofagasta Plc (ANTO), which owns copper mines in Chile, gained 2.4 percent to 1,228 pence as copper advanced for the fourth day.
Lloyds Banking Group Plc (LLOY), the biggest U.K. mortgage bank, declined 0.6 percent to 25.69 pence.