This Week’s Snapshot View of the Markets: Below are closing numbers as at Friday 7th June 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 cedar@s-cm.com
Market Numbers
FTSE 100 6411.99 -2.60% on the week
FTSE All Share 3384.56 -2.57% on the week
Brent Crude $ per barrel 104.56 4.15% on the week
Gold $ per troy ounce 1386.00 -0.61% on the week
Silver $ per troy ounce 22.60 0.13% on the week
Copper US$ per tonne 7315.00 0.62% on the week (LME 3 months)
Wheat Futures CBOT 696.25 -1.31% on the week (US$ per bushel – Contract 5000 bushels/136 tonnes)
Palm Oil US$ per tonne 865.00 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 % 0.13260 last week : 0.13220
Euro Libor % 0.02786 last week : 0.03571
GBP Libor % 0.48000 last week : 0.47813
Euro Euribor 3 mnths % 0.20 last week : 0.20
Sterling CDs 3 mnths % 0.48 last week : 0.48
RONIA % 0.4678 l wk : 0.4351 (Repurchase Overnight Index Ave Rate)
SONIA % 0.4218 l wk : 0.4204 (Sterling Overnight Index Ave Rate)
HFRX 1193.19 -0.81% on the week (Global Hedge Fund Index)
10 Year Government Bond (Gilt) Price £97.17 Yield 2.09%
One Pound will buy 1.5539 US Dollars
One Pound will buy 1.1754 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:
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
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