U.K. Stocks Are Little Changed as TUI Travel Shares Climb
Stock Chart for TUI Travel PLC (TT/)
U.K. stocks were little changed, near their highest level in almost a month, as investors awaited data on euro-area industrial production and U.S. jobless claims.
TUI Travel Plc (TT/) advanced 2.1 percent after JPMorgan Chase & Co. raised its recommendation on the tour operator. WM Morrison Supermarkets Plc (MRW) climbed 5 percent after saying it will reduce capital expenditure. Trinity Mirror Plc (TNI) fell 2 percent after the police started an investigation into possible phone hacking by former employees of its Sunday Mirror newspaper.
The FTSE 100 Index (UKX) gained 3.21 points, or 0.1 percent, to 6,591.64 at 9:22 a.m. in London. The equity benchmark has fallen 3.7 percent from a 13-year high on May 22 after the Federal Reserve said it may start reducing its monthly bond purchases this year. The broader FTSE All-Share Index added less than 0.1 percent today, while Ireland’s ISEQ Index slipped 0.2 percent.
A Eurostat report at 11 a.m. in Luxembourg will show that euro-area industrial output fell 0.3 percent in July, according to economists surveyed by Bloomberg. Production from factories, mines and utilities gained 0.7 percent in June.
In the U.S., a Labor Department release at 8:30 a.m. in Washington will probably show jobless claims rose to 330,000 in the week ended Sept. 7, from 323,000 a week earlier, according to the median estimate of economists surveyed by Bloomberg.
The volume of shares traded in FTSE 100-listed companies was 9.3 percent lower than the 30-day average, according to data compiled by Bloomberg.
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