Market Numbers Maundy Thursday 28th March 2013 – Markets closed for Good Friday (29th March 2013)

Market NumbersThis Week’s Snapshot View of the Markets: Below are closing numbers as at Maundy Thursday 28th March 2013. The Markets were closed for Good Friday in the run up to Easter (or Resurrection) Sunday – viewed by many as the biggest event in the Christian Calendar.

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FTSE 100                              6411.74      0.30%    on the week

FTSE All Share                     3380.64       0.23%    on the week

Brent Crude $ per barrel     110.02         2.19%     on the week

Gold $ per troy ounce         1598.25       -0.59%     on the week

Silver $ per troy ounce         28.64         -1.45%     on the week

Copper US$ per tonne       7613.00       -0.55%     on the week   (LME 3 months)

Wheat Futures CBOT          687.75       -5.76%     on the week   (US$ per bushel – Contract 5000 bushels/136 tonnes)

Palm Oil US$ per tonne      835.00       -3.47%   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 %                            0.15600   last week : 0.15700

Euro Libor %                         0.02643   last week : 0.02071

GBP Libor %                         0.48625  last week : 0.48250

Euro Euribor 3 mnths %     0.21   last week : 0.22

Sterling CDs 3 mnths %       0.55  last week : 0.57

RONIA  %                            0.4830  l wk : 0.4392 (Repurchase Overnight Index Ave Rate)

SONIA   %                            0.4203  l wk : 0.4356 (Sterling Overnight Index Ave Rate)

HFRX                                    1184.31         -0.13%  on the week  (Global Hedge Fund Index)

10 Year Government Bond (Gilt) Price £99.75 Yield 1.78%

One Pound will buy 1.5185 US Dollars

One Pound will buy 1.1825 Euros

CPI Inflation stands at 2.8% as at Feb 2013     Currently the old Gov’t measure of inflation

CPIH Inflation stands at 2.6% as at Feb 2013   Currently the new Gov’t inflation measure

Retail Prices Index:         3.3% as at Jan 2013     No longer a Gov’t measure of inflation

Retail Price Inflation RPIJ – Jevon’s formula – NEW:  2.6% as at February 2013 

Inflation Target expected to stay in place: 2.0%  based on the Consumer Prices Index (CPI)

The Chancellor confirmed in his Budget Speech Wednesday 20th March 2013 that the 2% Inflation target for the Bank of England would stay in place.

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 as one of its aims, 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:

RONIA – Repurchase Overnight Index Average Rate – Launched June 2011

Changes to Method of Calculating Inflation Measurement Index – March 2013

Metal and Precious Metal Pricing used in Market Numbers 

Photo Credit: SBG PhotoStock

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