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US close: Stocks cap worst week in over two years with further selling
Wall Street capped a bruising five-day stretch on Friday that saw it retreat almost 6%, its worst weekly performance in over two years, with further losses, despite better-than-expected readings on business investment and new home sales in the US.
FX round-up: Optimism on Australian dollar on frail foundations, Rabobank says
The pound put in a modest gain in a risk-off session that saw the dollar fall to within a whisker of its weakest level against the Japanese yen in a year.
Sunday share tips: Fevertree Drinks, Conviviality, Merchants Trust
Fevertree Drinks shares are now one to 'avoid' said the Sunday Times' Inside the City column, having increased almost 2000% from its flotation four years ago at 134p. Co-founder Charles Rolls sold a 2. 6% stake last week, which saw the share price drop 5% to 2,807p. The company therefore has £3. 2bn market cap, but turned over £170. 2m in 2017 and generated £56. 4m in profit.
Commodities: WTI jumps as traders price-in geopolitical premium after Bolton appointment
Brent crude oil futures pushed towards a fresh 52-week high on Friday alongside a fall in the Greenback back towards its own 52-week lows.
Bonds: Gilts dip as MPC's Vlieghe sounds hawkish note
These were the movements in some of the most widely-followed 10-year sovereign bond yields: US: 2. 81% (-1bp) UK: 1. 45% (+1bp) Germany: 0. 53% (-0bp) France: 0. 76% (-1bp) Spain: 1. 27% (-2bp) Italy: 1. 88% (-1bp) Portugal: 1. 72% (-3bp) Greece: 4. 38% (+9bp) Japan: 0. 02% (-1bp).
Sunday newspaper round-up: Brexit, Aviva, Rio Tinto, Hammerson, Facebook
The autumn Budget could be delayed if MPs are successful in pushing for an independent economic forecast of the Brexit withdrawal agreement. MPs from across the House of Commons have called for the Office for Budget Responsibility (OBR) to offer its verdict on how leaving the EU will affect the UK economy, based on the exit terms set to be agreed between the UK and EU in late October, production of which would have to be combined with work on costing the Budget.