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Business Briefing

Today’s Business Briefing; FTSE, US Economy & Oil Producion

The FTSE takes a boost #Business #Briefing #Forex #Markets

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Daily Commercial & Travel Update

The Markets FTSE 100 & 250

The pound is now trading 0.99% down on the dollar at $1.281 as the FTSE 100 steams ahead, up 28.58 points, to a record intraday high of 7,546.29. The FTSE 250 is also enjoying a good day – up 57.52 points at 20025.10.

US Economy Boost

US GDP has been revised up from 0.7% to 1.2% for the first quarter. The new figure for US GDP is the second estimate of economic growth – meaning it is based on more data – and shows that areas such as consumer spending fared better between January and March than initially thought.

Oil Production cuts until March 2018

Oil cartel Opec decided to extend cuts to production until March 2018, after previous efforts to limit supply did not do enough to raise oil prices. The cuts will be shared by countries from outside the price-fixing group. Countries from the Organization of the Petroleum Exporting Countries (Opec) and non-Opec members met in Vienna to discuss the plans for the cut.

US Stocks Slip As Banks And Technology Companies Decline

U.S. stocks are slightly lower Friday as technology companies, which have led the market’s recent rally, take some losses. Video game companies are slipping as Wall Street was disappointed by forecasts from GameStop. Banks are down and consumer-focused companies are rising. Stocks are still near record highs following a six-day winning streak.

Commercial Update

GBP PKR       1 GBP= 135.40 PKR   Pakistan

GBP AED       1 GBP= 4.74 AED      Dubai

GBP USD       1 GBP= 1.281 USD      USA

GBP EURO     1 GBP= 1.15 EUR      Euro

GBP INR         1 GBP= 83.14 INR     India

GBP BDT        1 GBP= 102.35 BDT    Bangladesh

Commodities

Brent Crude Oil   $53.94 USD   UP + 0.63%

Natural Gas            $3.11 USD DOWN -1.72%

Gold 100z              $1,25.87 USD   UP +0.24%

Silver 5000 oz        $17.18 USD      UP -0.76%

Platinum                $947.75 USD     UP +0.36%

Coffee Arabica       $156.70 USD    DOWN -0.41%

Orange Juice         175.30 USC   UP -1.74%

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