EWU is up 12.2% year-to-date. U.K. stocks weakened following BOE Governor Mark Carneys comment that no further stimulus will be required due to the scope of the economic recovery, reports Sofia Horta e Costa for Bloomberg . My personal view is, given the recovery has strengthened and broadened, I dont see a case for quantitative easing and I have not supported it, Carney said in a Yorkshire Post article. While an end to stimulus may be bearish for stocks, the BOEs statement is bullish for the British pound sterling currency, which hit an eight-month high against the U.S. dollar Friday and extended a fourth weekly gain, the longest run in a year, reports David Goodman for Bloomberg . FXB is 1.6% lower year-to-date. This sits with the tone weve seen recently from the Bank of England, where there was an absence of very dovish rhetoric, Jane Foley, senior currency strategist at Rabobank International, said in the Bloomberg article. The message is that there may be further asset purchases should the recovery stall but the data suggest that things are returning to normal. Max Chen contributed to this article. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr.
Report Published: “United Kingdom Agribusiness Report Q3 2013”
I’m getting to know them. They’re a really good team; they won the Premiership last year. But we need to make sure that we’re looking to improve as well.” Javier Hernandez scored the game’s only goal, stealing away from Jose Enrique to convert a Wayne Rooney corner from close range in the 46th minute of an engaging and open-ended cup tie. Paradoxically, despite United having made their worst start to a league campaign in nine years, the win over Liverpool meant that Moyes has made the best start as a United manager since the great Matt Busby in 1946. He poured scorn on the statistic, but admitted he was eager to see more positive headlines about the early days of his United tenure. “Somebody told me that before the game. That’s the way it is,” said the Scot, who also revealed that Tom Cleverley had sustained an unspecified injury in training. “Everybody at the moment seems to be picking a stat out — you know, I’ve not won here or I’ve done this or I’ve not done that. Obviously that’s one of the good ones, because I’ve not had that many good ones.” Liverpool’s Uruguayan forward Luis Suarez looks on during the League Cup football match between Manc Hernandez’s goal eclipsed the return of Liverpool striker Luis Suarez, who was making his comeback after serving a 10-game suspension for biting Chelsea’s Branislav Ivanovic in a league match in April. The Uruguayan played for the full 90 minutes and almost claimed an equaliser with 18 minutes to play, only for his free-kick to flick off the United wall and crash against the crossbar. “Considering he’s been out for such a long time, he ran himself into the ground and you could see he was always a threat,” said Liverpool manager Brendan Rodgers.
Moyes heartened by ‘hurt’ United’s reaction
This will largely be a result of population growth, as well as economic recovery and the continued popularity of Sunday roasts. – Milk production growth to 2016/17: 6.9% to 14.1mn tonnes. We expect production to recover slightly; however, we note that EU CAP reforms could make UK farmers less competitive. – Real GDP growth: 1.1% year-on-year (y-o-y) in 2013 (from 0.2% y-o-y in 2012). – Consumer inflation: 2.0% y-o-y in 2013 (down from 2.9% y-o-y in 2012). – BMI universe agribusiness market value: 1.8% y-o-y decline to US$27.3bn in 2012/13, forecast to grow on average 1.8% annually between 2011/12 and 2016/17. View Full Report Details and Table of Contents Industry Outlook Wheat harvest declines in the UK look set to drag on overall EU estimates, as wet weather has reduced plantings and forced the EU’s third largest producer to import record amounts of milling wheat for the 2012/13 season. We already see downside risks to our outlook for UK wheat production to rebound to 15.2mn tonnes in 2013/14, and it appears that the crop could be facing steep declines, as 25% of winter wheat plantings were lost due to wet weather. The declines in UK production are likely to keep Paris wheat futures supported over the coming months. Dairy producers will be affected by lower production prospects and high costs depending on their product segmentation and geographies. We believe Dairy Crest has been particularly affected because of its focus on fresh milk in the UK. The company announced a GBP17.1m loss in FY2012 as the performance of its milk processing division, from which it gets most of its revenues, was particularly poor. The company also recently lost key supply agreements to Tesco and Starbucks, which exemplify the increasingly competitive environment faced by local dairy companies and the inability of most to cope with squeezing margins.