Good Afternoon ,
Bit of a nothing day today, UK RIC's survey set the tone with weaker outlook for UK house prices , there was also negative news on the UK inflation front with the upper 3% limit breached for the sixth month. The BOE faces a growing split with those talking of the need for rate rises to curb inflation whilst the opposite camp are very much in favour of further stimulus in the face of very sharp public expenditure cuts. So no one is happy.
German investor confidence fell to its lowest level in 19 months and marked the fifth monthly decline and the lowest reading since feb 2009 according to Bloomberg. Te decline is seen as a reaction by investors to the slowdown in the rebound and the rising fears of a double dip.
Market prices were a real mixed bag today in Ireland with the financials giving up ground as did CRH and Grafton though Kingspan bucked the trend with a +0.6% gain.
A
Tullow in a very politically astute manoeuvre has announced that it plans to list some of its shares in
As I close a colleague points out a rumour coming out of a broker in the US that the Fed is to announce $1trio asset purchase program in Nov.... $$ weakness being attributed to this, EURUSD testing 1.30....
Have a good evening
Liam
___________________________________________
Liam Boggan
Merrion Stockbrokers
Tel.: 353-1-2404171
Mob:353-87-2313505
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