This Week’s Snapshot View of the Markets: Below are closing numbers as at Friday 31st May 2013. For more discussion about how the financial markets may affect your own personal or business financial situation, protection, pensions or investments, why not get in touch?: 01276 471083 OR firstname.lastname@example.org
FTSE 100 6583.09 -1.07% on the week
FTSE All Share 3473.82 -0.93% on the week
Brent Crude $ per barrel 100.39 -2.19% on the week
Gold $ per troy ounce 1394.50 0.31% on the week
Silver $ per troy ounce 22.57 0.85% on the week
Copper US$ per tonne 7270.00 -0.07% on the week (LME 3 months)
Wheat Futures CBOT 705.50 1.15% on the week (US$ per bushel – Contract 5000 bushels/136 tonnes)
Palm Oil US$ per tonne 860.00 0.58% 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 % 0.50 since 02/05/2013 (previously 0.75)
US Libor % 0.13220 last week : 0.13500
Euro Libor % 0.03571 last week : 0.2500
GBP Libor % 0.47813 last week : 0.48188
Euro Euribor 3 mnths % 0.20 last week : 0.20
Sterling CDs 3 mnths % 0.48 last week : 0.48
RONIA % 0.4351 l wk : 0.4271 (Repurchase Overnight Index Ave Rate)
SONIA % 0.4204 l wk : 0.4214 (Sterling Overnight Index Ave Rate)
HFRX 1202.94 -0.28% on the week (Global Hedge Fund Index)
10 Year Government Bond (Gilt) Price £97.68 Yield 2.03%
One Pound will buy 1.5161 US Dollars
One Pound will buy 1.1699 Euros
CPI Inflation stands at 2.4% as at Apr 2013 Currently the old Gov’t measure of inflation
CPIH Inflation stands at 2.2% as at Apr 2013 Currently the new Gov’t inflation measure
Retail Prices Index (Carli): 3.3% as at Jan 2013 No longer a Gov’t measure of inflation
Retail Price Inflation RPIJ – Jevon’s formula – NEW: 2.3% as at Apr 2013
(RPIJ is an experimental index – results of the trial due Summer 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:
Whilst every effort is made to ensure accuracy of the above information, this cannot be guaranteed and cannot be relied upon to be free from errors, omissions or inaccuracies.
This information update is provided for convenience and interest only and is not intended nor does it constitute any form of regulated or other advice and no liability is accepted. You should not use this update as a basis for making decisions.
You should confirm independently any information you wish to rely on to make any decisions – in any case you should seek and take appropriate and timely independent financial legal or other advice including full and proper discussions about the level of financial legal or other risk involved before deciding on any action transaction or inaction.
Photo Credit: SBG PhotoStock