Despite the hype of augmented reality and facial recognition Apple’s new £999 X iPhone (basic version) failed to lift Apple’s share price yesterday. Apple shares ended -0.40% down at $160.86.
Apple’s slight share miss didn’t dent S&P 500 – the US stock market index representing America’s 500 biggest companies – sentiment which pushed to a record high (2,496.48) yesterday as it neared the 2,500 level.
Yesterday’s UK +2.9% inflation climb saw sterling surge ahead against the dollar. The pound consolidated its gains overnight lifting to $1.3304 by 7am while the euro was trading at $1.1980.
Tomorrow the Bank of England's Monetary Policy Committee (MPC) comes to an interest rate decision – a move that balances flailing UK household income versus rising inflation, not helped by the climb in value of the euro.
When to raise rates? The decision – expect no change – arrives midday tomorrow. Any signs of MPC dissent (2+ members voting for a rise) could bolster the pound. Market-sensitive jobs market and wage growth data arrives at 9.30 this morning.
- UK FTSE 100 7,400.69 -0.17%
- Dow 22,118.86 +0.28%
- S&P 500 2,496.48 +0.34%
- Nasdaq 6,454.28 +0.34%
- Nikkei 225 19,870.26 +0.47%
- DAX 12,524.77 +0.40%
- CAC 40 5,209.01 +0.62%
- Gold 1,334.80 +0.16%
- Oil WTI 48.25 +0.04%
Galliford Try revenues shift higher
Let’s commence with a full year trading update from housebuilder Galliford Try. Revenues move +6% higher to £2,820m but pre-tax profits are down -57% to £58.7m while earnings per share slump -55% to 59.1p.