Consumer Pressure as Stock Markets Stagnate

April 22, 2015 sarah Uncategorized

U.K. stocks on the FTSE 100 Index halted a three-day decline yesterday as data showed U.S. consumer confidence climbed to a seven-month high this month, beating economist forecasts. Carnival Corp. rallied 3.4 percent after third-quarter earnings topped estimates. Weir Group Plc rose 4 percent as analysts said the company may become a takeover target. Standard Chartered Plc paced declining shares amid a report its largest shareholder has held talks to sell its stake. The FTSE 100 gained 20.87 points, or 0.4 percent, to 5,859.71 at the close in London, after falling as much as 0.2 percent earlier. The FTSE All-Share Index also gained 0.3 percent yesterday, while Ireland’s ISEQ Index declined 0.5 percent. FTSE Futures are looking down around 0.7%.BHP Billiton Ltd. might be active after retreating in Australia as metal prices dropped.  Anglo American Plc may move after saying that it plans to reduce its production of coal.

European stocks advanced yesterday as U.S. home prices and consumer confidence increased more than forecast, adding to signs the world’s largest economy is strengthening. Luna Group AG rose 3 percent amid reports of takeover speculation. Continental AG sank 4 percent as Schaeffer AG sold a 10.4 percent stake in the tire producer. Infineon Technologies AG slid 6.1 percent after Europe’s second-biggest semiconductor maker forecast a decline in revenue. The Stocks Europe 600 Index added 0.4 percent to 275.78 at the close of trading. The gauge has rallied 18 percent from this year’s low on June 4 as European Central Bank policy makers agreed to implement an unlimited bond-buying program and the Federal Reserve unveiled a third round of asset purchases. Same day payday loans and payday text loans providers are being used in greater volumes as people feel the pressure. European stock futures declined, following yesterday’s advance, after Federal Reserve Bank of Philadelphia President Charles Plosser said that the third round of bond buying may fail to stimulate growth or hiring. Myriad Group AG, a software developer, may move after starting a rights issue and reporting a wider first-half loss. Futures on the Euro Stocks 50 Index, a benchmark for the euro area, slumped 1 percent to 2,535 at 7:30 am.

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