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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE released £150 billion of lending amid warnings on stability
The Bank of England (BoE), in its twice-yearly assessment of financial stability report, warned that there will be a period of uncertainty and adjustment following the result of the referendum and that UK will take time to establish new relationships with the European Union and the rest of the world. The central bank took steps to release up to £150 billion worth of lending to British households and businesses by relaxing regulatory requirements on the banking sector. Further, the BoE Governor, Mark Carney, assured markets that the central bank has a plan that is working and that it stands ready to take any further actions, if needed.
UK services PMI dropped in June
The services PMI fell to a level of 52.30 in June, in the UK, compared to market expectations of a fall to a level of 52.80. The services PMI had registered a level of 53.50 in the prior month.
UK BRC shop price index recorded a drop in June
On an annual basis, the BRC shop price index fell 2.00% in June, in the UK. In the previous month, the BRC shop price index had fallen 1.80%.
UK official reserves climbed in June
In June, official reserves climbed $1619.00 million in the UK. In the previous month, official reserves had dropped $1168.00 million.
Euro-zone services PMI fell in June
In June, the final services PMI in the Euro-zone fell to a level of 52.80, compared to a reading of 53.30 in the prior month. Market expectation was for services PMI to drop to 52.40. The preliminary figures had indicated a drop to 52.40.
Euro-zone retail sales advanced as expected in May
The seasonally adjusted retail sales advanced 0.40% on a monthly basis in the Euro-zone, in May, compared to a revised advance of 0.20% in the previous month. Market anticipation was for retail sales to rise 0.40%.
Euro-zone composite PMI remained unchanged in June
In the Euro-zone, the final composite PMI remained unchanged at 53.10 in June. The preliminary figures had indicated a drop to 52.80. Markets were anticipating to drop to 52.80.
German services PMI registered a drop in June
In Germany, the final services PMI fell to a level of 53.70 in June, compared to a level of 55.20 in the previous month. The preliminary figures had recorded a fall to 53.20. Markets were anticipating services PMI to drop to a level of 53.20.
French services PMI recorded a drop in June
The final services PMI eased to 49.90 in June, in France, compared to a level of 51.60 in the prior month. Markets were anticipating services PMI to fall to a level of 49.90. The preliminary figures had also indicated a fall to 49.90.
Italian services PMI advanced in June
The services PMI registered a rise to 51.90 in June, in Italy, compared to a reading of 49.80 in the previous month. Market anticipation was for the services PMI to rise to 50.50.
Spanish services PMI registered an unexpected rise in June
The services PMI in Spain rose unexpectedly to 56.00 in June, compared to market expectations of a drop to 55.00. In the prior month, the services PMI had registered a level of 55.40.
US durable goods orders (ex transportation) dropped as expected in May
The final durable goods orders (ex transportation) in the US eased 0.30% on a MoM basis in May, at par with market expectations. The preliminary figures had also recorded a drop of 0.30%. Durable goods orders (ex transportation) had climbed 0.50% in the prior month.
US durable goods orders dropped more than expected in May
On a monthly basis, in the US, the final durable goods orders dropped 2.30% in May, compared to a revised advance of 3.30% in the prior month. Market expectation was for durable goods orders to drop 2.20%. The preliminary figures had recorded a drop of 2.20%.
US factory orders dropped more than expected in May
On a MoM basis, factory orders in the US recorded a drop of 1.00% in May, higher than market expectations for a drop of 0.80%. In the previous month, factory orders had climbed by a revised 1.80%.
US non-defence capital goods shipments (ex aircraft) registered a drop in May
On a monthly basis, the final non-defence capital goods shipments (ex aircraft) slid 0.50% in the US, in May. In the prior month, the non-defence capital goods shipments (ex aircraft) had climbed by a revised 0.60%. The preliminary figures had also indicated a drop of 0.50%.
US economic optimism index declined surprisingly in July
The economic optimism index fell unexpectedly to a level of 45.50 in July, in the US, compared to market expectations of an unchanged reading. In the previous month, the economic optimism index had registered a level of 48.20.
US New York City current business condition index advanced in June
In June, the New York City current business condition index rose to a level of 45.40 in the US. The New York City current business condition index had registered a reading of 37.20 in the previous month.
US non-defence capital goods orders (ex aircraft) recorded a drop in May
In the US, the final non-defence capital goods orders (ex aircraft) registered a drop of 0.40% on a monthly basis, in May. The non-defence capital goods orders (ex aircraft) had registered a revised similar fall in the prior month. The preliminary figures had recorded a drop of 0.70%.
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