Newspaper article The Journal (Newcastle, England)

US Stalemate's Impact Felt as UK Forecasts Raised; FTSE 100

Newspaper article The Journal (Newcastle, England)

US Stalemate's Impact Felt as UK Forecasts Raised; FTSE 100

Article excerpt

Byline: annabel breakey Brewin Dolphin

THE FTSE 100 Index had another downbeat day on Tuesday, eventually ending the trading session 71.5 points lower at 6365.8. Trading turnover in the London Stock Exchange neared mid August lows as investors continued to focus on the stalemate in the US, with a lack of progress in averting a technical default and the continued government shutdown. The losses came amid positive news from the International Monetary Fund who, following a raft of upbeat data, raised its forecasts for UK economic growth to 1.4% for 2013.

Shares in ITV were withstanding the current Downton Abbey storm, as they moved higher by 1.8p.

BNP Paribas released an optimistic note on Tuesday following a CFO sales meeting. The investment house said: "We remain buyers of ITV's transformation story". It also highlighted sentiment among advertisers turning increasingly positive, which should bode well for margins in the second half of 2013 and through 2014. …

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