This Week: The markets started the week by dipping toward the 5890 level before rising toward the 5930 level, spending the mid week oscillating around the 5940 level before falling back down to the 5930 level and latterly below that at the end of the week and to the week’s close on Friday. The markets ended the week higher than at the start. FTSE 100 Peak: 5948.50 (mid-week); Trough: 5891.33 (start of week).
The Month: The high point over the last month was 5948.50 this week. The Lowest Point remained at the end of Friday trade four weeks ago of 5605.59. The FTSE 100 at the start of the current rolling month has been around 5700 whilst the index has gradually climbed to the week’s close at 5921.76 following its decline to the 5600 level in the early part of the month. Overall there is an approximate 200 points increase in the FTSE over the last rolling month, with the decline early in the period being reversed. Despite the rises and falls of this month, December has now seen a slight increase in the overall level compared to the start of the rolling three month comparison period despite the relatively short and sharp decline mid November.
The overall view of the last 6 months is still more of a general increase with the index reaching some 450 points higher than the 6 months start.
The figures below are closing numbers as at Friday 14th December 2012
FTSE 100 5921.76 0.12% on the week
FTSE All Share 3098.41 0.18% on the week
Brent Crude $ per barrel 109.15 1.99% on the week
Gold $ per troy ounce 1696.25 -0.31% on the week
Silver $ per troy ounce 32.52 -1.00% on the week
Copper US$ per tonne 8065.00 0.93% on the week (LME 3 months)
Wheat Futures CBOT 801.00 -5.12% on the week (US$ per bushel – Contract 5000 bushels/136 tonnes)
Palm Oil US$ per tonne 772.50 0.65% on the week (eg CMEGlobex – trading unit 25 tonnes – mirror and settle to Malaysian ringgit benchmark)
MPC Base Rate % 0.50 (Bank of England Base/Repo Rate) since 05/03/2009
Euro Repo Rate % 0.75 since 05/07/2012
US Libor % 0.16250 last week : 0.16250
Euro Libor % 0.01357 last week : 0.01357
GBP Libor % 0.48000 last week : 0.48000
Euro Euribor 3 mnths % 0.18 last week : 0.19
Sterling CDs 3 mnths % 0.49 last week : 0.49
RONIA % 0.4712 l wk : 0.4846 (Repurchase Overnight Index Ave Rate)
SONIA % 0.4293 l wk : 0.4331 (Sterling Overnight Index Ave Rate)
HFRX 1144.21 0.54% on the week (Global Hedge Fund Index)
10 Year Government Bond (Gilt) Price £98.98 Yield 1.87%
One Pound will buy 1.6120 US Dollars
One Pound will buy 1.2297 Euros
CPI Inflation stands at 2.7% as at Oct 2012 Currently the Gov’t measure of inflation
Retail Prices Index : 3.2% as at Oct 2012 Previously the Gov’t measure of inflation
Inflation Target for the time being: 2.0% based on the Consumer Prices Index (CPI)
The Government’s Inflation Target is announced each year by the Chancellor of the Exchequer in the annual Budget statement. The Bank of England Monetary Policy Committee has the aim to set interest rates so that over- or under- inflation can be brought back to Inflation Target over a reasonable time period without creating undue instability in the economy. Inflation Target is not a permanently fixed level and may vary depending on prevailing economic and fiscal conditions.
KEY to Important Indeces:
Photo Credit: SBG PhotoStock