June « 2006 « Greg Secker – Global Market Update

Archive for June, 2006

2006 - 06.26

US consumer confidence has recovered slightly this month due to a dip in petrol prices which have had a key effect on consumer sentiment, according to the latest Conference Board report.
Despite better sentiment, analysts are worried about future figures
German business confidence has climbed unexpectedly during June, hitting its highest level in 15 years although analysts are worried about future figures even with new confidence.

2006 - 06.26

Bumper sales of TVs and food in June, triggered by the World Cup, have resulted in UK retailers reporting an average 43% increase in overall sales. However, the overall impact has been lower than forecast, raising fears it could fall once the World Cup is over.
British Gas saw losses of £75m in the second half of 2005 which has led to the head of British Gas’s residential arm, Mark Clare, leaving the firm to join homebuilder Barratt Developments as its new chief executive.

2006 - 06.21

Interest Rates remain unchanged at 4.5%: (http://www.bankofengland.co.uk/index.htm)
Inflation has risen from 2.0% to 2.2%: (http://www.statistics.gov.uk/)
Consumer Confidence has fallen from -4 to -5: (http://www.gfknop.co.uk/)

2006 - 06.21

Stock markets have slumped worldwide in the past six weeks on the back of rising inflation and speculation of continued interest rate rises may dent economic growth.
Policy makers in the U.S. are scheduled to announce their next rate decision on June 29. Economists surveyed by Bloomberg expect a 17th straight increase to 5.25%.

2006 - 06.21

The Bank of England released their monetary policy minutes and it was revealed the policy makers voted 7 – 1 to keep the benchmark interest rate at 4.5% this month.
However, resurgent inflation has prompted investors to speculate that the BoE will raise interest rates by 25 basis points by September to 4.75%.