RANsquawk DAILY UK OPENING NEWS – 04/07/12
Data Releases
UK BRC Shop Price Index (Jun) Y/Y 1.1% (Prev. 1.5%) (Newswires)
UK shop-price inflation slowed in June to the weakest in more than two and a half years as fuel and commodity prices fell, according to Nielsen. Senior manager of retail services at Nielsen commented that prices continue to fall across retail stores, which will be welcome news for many households needing to make savings on household bills.
Overnight News
UK PM Cameron has said Britain would be prepared to close its borders to immigrants from Greece if the country was ejected from the Eurozone. The PM made it clear that such restrictions would only be imposed in the event of extraordinary stresses on the system. (FT-More)
UK Deputy PM Clegg is to today float proposals for staff to have a right to request shares in the company they work for. (FT-More) The report will propose that if at least 10% of employees want to do so, they should have a statutory right to lodge a proposal for all staff to share in ownership.
LSE Professor and member of the Times Shadow MPC Goodhart has called on the BoE to stop its quantitative easing programme because it is damaging the economy. Goodhart said that instead it should cut interest rates to 0.25% and start buying private sector bonds, as opposed to gilts. (Times)
As part of the ongoing Libor-fixing investigation, ex-CEO of Barclays Bob Diamond is due to speak in front of the UK Treasury Select Committee at 1400BST. (RANsquawk)
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UK BRC Shop Price Index (Jun) Y/Y 1.1% (Prev. 1.5%) (Newswires)
UK shop-price inflation slowed in June to the weakest in more than two and a half years as fuel and commodity prices fell, according to Nielsen. Senior manager of retail services at Nielsen commented that prices continue to fall across retail stores, which will be welcome news for many households needing to make savings on household bills.
Overnight News
UK PM Cameron has said Britain would be prepared to close its borders to immigrants from Greece if the country was ejected from the Eurozone. The PM made it clear that such restrictions would only be imposed in the event of extraordinary stresses on the system. (FT-More)
UK Deputy PM Clegg is to today float proposals for staff to have a right to request shares in the company they work for. (FT-More) The report will propose that if at least 10% of employees want to do so, they should have a statutory right to lodge a proposal for all staff to share in ownership.
LSE Professor and member of the Times Shadow MPC Goodhart has called on the BoE to stop its quantitative easing programme because it is damaging the economy. Goodhart said that instead it should cut interest rates to 0.25% and start buying private sector bonds, as opposed to gilts. (Times)
As part of the ongoing Libor-fixing investigation, ex-CEO of Barclays Bob Diamond is due to speak in front of the UK Treasury Select Committee at 1400BST. (RANsquawk)
View All Market Commentary
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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