Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1676
    +0.0019 (+0.17%)
     

  • GBP/USD

    1.2493
    -0.0018 (-0.14%)
     

  • Bitcoin GBP

    51,118.43
    -582.66 (-1.13%)
     

  • CMC Crypto 200

    1,383.71
    -12.82 (-0.95%)
     

  • S&P 500

    5,106.31
    +57.89 (+1.15%)
     

  • DOW

    38,272.23
    +186.43 (+0.49%)
     

  • CRUDE OIL

    83.63
    +0.06 (+0.07%)
     

  • GOLD FUTURES

    2,349.80
    +7.30 (+0.31%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

LIVE MARKETS-Bring on the "Labour nationalisation hit list"!

Reuters - UK Focus

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net

BRING ON THE "LABOUR NATIONALISATION HIT LIST"! (0702 GMT)

Labour will unveil its manifesto this morning at 11h00 GMT in Birmingham.

The event will be closely watched by investors after last week's surprise pledge by Jeremy Corbyn to part-nationalise BT.

"BT hadn’t believed it was on the Labour nationalisation hit list", Neil Wilson, chief market analyst at Markets.com commented at the time as the pledge took analysts by surprise.

ADVERTISEMENT

So whether there will be another surprise target for nationalisation is the multi-billion pound question that on everyone's mind!

Corbyn seeks to reverse privatisations began by former Prime Minister Margaret Thatcher in the 1980s, promising to nationalise rail, mail, water, and BT's broadband network to provide free internet for all.

Coincidence? Royal Mail and Severn Trent both publish trading updates this morning.

Anyhow, in a bid to manage readers expectations, it may be important to stress that given Labour's perceived low chances of being in power post the Dec. 12 election, the "Labour nationalisation hit list" may not trigger crazy market price action.

See Friday's LIVE MARKETS-BT nationalisation: Who cares?

(Julien Ponthus)

*****

MORNING CALL: DOWN WITH THE FLOW (0624 GMT)

No reason for European stocks to be spared from the global pull-back really.

Wall Street and Asian markets retreated sharply overnight amid fears the very much hoped-for "phase one" Sino/U.S. trade deal would be delayed due to fresh tensions between Washington and Beijing.

Financial spreadbetters expect London's FTSE to open 31 points lower, Frankfurt's DAX down 69 points and Paris' CAC to lose 31 points at the open.

"The US-China trade spat has been rumbling on for over one year, and traders are used to the back and forth", commented David Madden at CMC Markets, adding that the latest twist in the saga could be seen as "an excuse to unwind some positions".

(Julien Ponthus)

***** (Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)