Market Update: UK consumer price inflation edges lower to 2.8% in July – 13.08.2013

Source: Henderson Global Investors

US equities closed relatively unchanged yesterday with the Dow Jones flat and the S&P 500 down 0.1%. Shares in handset maker Blackberry rose 10.5% (up 30% over 12 months) on news that the company is considering moves including joint ventures and a possible sale. Newmont Mining shares gained 4.7%, helped by a higher gold price. Meanwhile, food product distributor Sysco was the worst performer, down 5.8% after reporting earnings per share that missed analyst estimates despite beating revenue expectations.

European equities have opened higher this morning with both the FTSE 100 and the FTSE Eurofirst 300 0.5% higher, encouraged by a 2.6% rise in Tokyo. The largest gainer was life insurance group Resolution, which rose 4.5%, after reporting a 17% rise in first-half pre-tax operating profit. Elsewhere, gold and silver miner Fresnillo gained 4% with analysts predicting a sustained rise in precious metal prices. UK consumer price inflation edged lower to 2.8% in July.