Latest Market Analysis
Investment markets opened the week on edge as the Greek parliament
started to debate the latest wave of austerity measures demanded by
the international community in exchange for the latest tranche of
The FTSE 100 spent most of the day in modest positive territory and
finally closed points 25 higher at 5722.
BG Group was amongst the leaders after announcing a funding pact with
Bank of China, which grows its lending capabilities by 50% to a total
of $4.4 billion. The news came on the day that the Prime Minister
David Cameron and Chinese Premier Wen Jaibao announced a raft of trade
deals between the nations and an aim to grow bilateral trade to $100
billion by 2015. Shares in BG Group closed 2.25% higher with an 28.5p
rise to 1303.5p.
Medical testing kit specialist Immunodiagnostic Systems, based in
Boldon, reported a 26% rise in revenue for the last financial year and
a 51% increase in profits. Investors also took heart from a positive
statement by the company however the shares closed 4p lower at 946p.
Shares in Ocado Group, the upmarket online grocer, suffered following
a first half profits announcement. Although the numbers reported were
in line with market forecasts, the shares fell 17p to 170p, on fears
future growth would not be as positive as previously expected, not
least due to direct completion from Waitrose, whose product line Ocado
has been dependant on.
Crude Oil continued its recent decline, losing a further 1.5% during
London trading to end at $105 a barrel, providing some hope to
beleaguered motorists that petrol prices could soon decline too.
This was posted in Bdaily's Members' News section by John Dance .
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning National email for free.