UK Stocks Change Little Today

Already on its highest value in the last 8 months, the UK stocks added a meager 3.34 points (less than 0.1%) today due to the decision of Federal Reserve to expand its asset purchase program and the report which shows confidence increase in German investors. The benchmark stock index FTSE 100 is at 5924.97 currently. Erasing yesterday’s losses, the benchmark stock index of Ireland, ISEQ Index jumped up by 0.6%. The broader FTSE All-Share Index was more or less unchanged today though.

Angus Campbell, who heads the market analysis department for Capital Spreads, stated that the Germany data was much better than expectations and hence, the investors got into a buying mode. Angus added that Federal Reserve may announce of further stimulus as well.

The European Economic Research’s ZEW Center announced that its index of analyst and investor expectations is at 6.9 for December. This is a big jump considering the same was -15.7 in November. The economists predicted this index to be -11.5 for December.

Whitbread shares got to the highest level since January, 1992 at 2488 Pence showing a jump of 2.5%. Based on a recently released report, the same-store sales for the company’s Costa Coffee outlets increased by 7.1% in the 13 weeks; which ended on 29th November. The sale increase during the same timeframe for 2011 was 3.8%.

Asos shares also rose to an 11-year high at 2546 Pence, after the share prices of the U.K.’s largest online fashion store increased by 3.3%. Based on recent statistics released by the company, the retail sales figures increased by 30% in the 1st quarter of 2012. This is more than the early estimates of 29% growth.

The largest distiller in the world, Diageo shares saw a drop of 1.6% and is at 1855.5 Pence currently. The company is going to finish the agreement to distribute the tequila brand outside Mexico in June, next year. The company has also announced ending negotiations over buying Jose Cuervo.

BUMI shares rallied to 4.6% and are at 284.6 Pence currently. Nathaniel Rothschild, the co-founder of the company announced that the top five institutional shareholders support his restructure proposal currently. Incidentally, Nathaniel had a dispute with Bakrie Group on the same. Tullow Oil, however, plummeted by 8.4% to finish at its lowest value in more than 2 years after announcing the decision to sell North Sea Holdings.