1630: Close It was negative finish for UK stocks in the final session of the week, with investors focused on the Bank Holiday, European and Ukraine elections, while several stocks retreated from gains seen earlier in the week. Saga completed its initial public offering today, although the performance of the shares
was rather disappointing, rising only 0.5p from their 185p starting price. Meanwhile, Barclays investors shrugged off a 26m pound fine related to gold price setting. The FTSE 100 ended the final session of the week 4.81 points lower at 6,815.75.
1500: Existing home sales rose by 6.4 per cent to reach an annualised pace of 433,000 units last month, according to the US Department of Commerce.
The consensus estimate had been for an increase to 425,000.
1314: Speaking at an economic conference in St.Petersburg Russian President Vladimir Putin has said he will respect the outcome of Ukraine´s presidential elections this next Sunday, the BBC reports.
1309: Things are looking down for Chile-focused miner Antofagasta, Investec says, due mainly to the strength in sterling, an expected increase in the tax rate and the uncertain near-term outlook for the price of copper. The effective tax rate is seen rising to 35% from fiscal year 2017 in comparison to 29% beforehand. In particular, the full 35% rate is expected to be applied to overseas cash returns. As a result the broker has cut its price target for the stock to 690p (from 715p).
1230: Three-month copper futures are rising 1.3 per cent to 6,918.50 dollars per metric tonne.
1200: Chinese Premier Li said China will maintain reasonable rates of money and loan growth.
1130: Platinum producers Anglo American Platinum, Impala Platinum and Lonmin have collectively announced that facilitated mediation with the Association of Mineworkers and Construction Union (AMCU) is continuing under the supervision of the Labour Court. The companies and AMCU 'welcomed the initiative of the Labour Court to mediate a resolution of the protracted wage strike in the sector', a statement issued by Lonmin read.
1045: Over-50s tour operator and insurer Saga has completed its initial public offering at 185p per share, making it worth 2.1bn pounds when dealings begin. FTSE 100 down 16.55 at 6,804.
0931: British financial watchdogs have slapped a 26m pound fine on banking group Barclays for alleged failings linked to setting of gold prices. The Financial Conduct Authority said in a statement that it was fining Barclays 26,033,500 pounds'"for failing to adequately manage conflicts of interest between itself and its customers as well as systems and controls failings, in relation to the Gold Fixing. These failures continued from 2004 to 2013.'
0900: Germany´s IFO business climate index retreated slightly in May to 110.4, from a reading of 111.2 in the month before (consensus: 110.9)
0844: Stocks have started the day on weak note after a flare-up in fighting in Ukraine overnight and ahead of this weekend´s European parliamentary election results. To take into account, S&P and Fitch have upgraded their ratings on the long-term sovereign debt of Spain and Greece this morning. Shares of Go-ahead are heading up gains on the FTSE 250 after a joint venture between the bus and train operator and a company part-owned by French state railway SNCF won the battle to run the new Thameslink rail super-franchise in London and south-east England. LSE was at the top of the leaderboard on the Footsie after being upgraded to 'neutral' from 'sell' at Goldman Sachs. FTSE 100 down 13 to 6,807.