FTSE ends down as shares hit by US-North Korea tensions

Ivan Schwartz
August 13, 2017

"It looks like a technical correction, but if there's more bad news in the days to come, or if geopolitical tensions escalate, this short-term correction could become a major correction for stock markets here and globally", CMC Markets analyst Margaret Yang said.

Rising tensions between the United States and North Korea continue to rattle global markets, as the weak lead from the northern hemisphere has flowed into Asian trade. The statement has dominated the headlines, and is one of the main drivers in the markets.

"The high drama has prompted traders to take their cash out of stocks, and invest it in safer assets like gold". ANZ fell 1.9 percent, Commonwealth shed 0.7 percent and Westpac declined 1.3 percent after RBA Governor Philip Lowe said the central bank is prepared to be patient on rates for quite some time.

On the currency markets, the pound fell 0.2% against the dollar to $1.2976 and slipped 0.05% against the euro at 1.1055 euros.

The US Consumer Price Index (CPI) edged up 0.1% last month after staying flat in June and falling by 0.1% in May.

Transocean Ltd. (RIG) Stake Decreased by Traynor Capital Management Inc
Evercore ISI reissued a "buy" rating and issued a $18.00 price objective on shares of Transocean in a research note on Thursday. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Antonio Conte explains whether Alvaro Morata will start for Chelsea against Burnley
Dyche will be without striker Andre Gray as the forward is set to join Watford after a deal was agreed on Wednesday. The best managers in the world are in the Premier League now. "I'm trying to do my best every day".

Mourinho reveals United are in talks with Ibrahimovic
Ibrahimovic, 35, was released in June after not being offered a new contract following a season-ending knee injury. Home draws were a regular occurrence in Manchester United's disappointing sixth-place finish last season.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London.

On Friday, chief executive Bruce Hemphill said Old Mutual is making "excellent progress" in the break-up as he celebrated a 37% rise in adjusted operating profit to £969 million.

On the second tier, Domino's Pizza dropped 8.3p to 272p after the takeaway firm inked a partnership with its London franchise business.

Housebuilders Persimmon and Barratt Developments were among the biggest gainers of the day, up 1.58% and 1.02% respectively.

Mining heavyweights BHP Billiton and Rio Tinto retreated 2-3 percent, while gold miners Evolution and Newcrest rose about 2 percent each.

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