London Economy
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Importance of copper in economy of London
[br]Latest data from London Metal Exchange has revealed that price of copper has moved up a few spaces in an encouraging news on London economy. This rather pleasant situation in London’s economy is a result of weaknesses in dollar and fine performance of equities.
Importance of copper in economy of London
[br]Latest data from London Metal Exchange has revealed that price of copper has moved up a few spaces in an encouraging news on London economy. This rather pleasant situation in London’s economy is a result of weaknesses in dollar and fine performance of equities.London Interbank Offered Rate
As per its information on London economic structure, British Bankers’ Association has revealed that rate of loans provided in dollars and having a term period of three months – known as Libor or London Interbank Offered Rate – has touched 0.66 percent mark. This is equivalent to a decrease of 0.06 percentage points.
London economy information
[br]According to information on London economy from New York Mercantile Exchange London gold futures are trading at $937.50 per ounce and London silver futures are trading at $14.23 per ounce. In New York Mercantile Exchange London gold futures are traded as XAUFIX and London silver futures are traded as XAGFIX.London credit rating condition
As per Standard and Poor’s, which is a well known credit rating agency at global financial circles, AAA credit rating of most financial institutions in London as well as entire United Kingdom could be facing threat of economic instability.
This economic condition could have an adverse impact on financial markets operating in London and UK. Much of this present situation of London economy is owing to levels of public debt, which keep going up on a daily basis. State of public finances throughout British Isles is perilous.
Authorities of major financial organizations in London like Deutsche Bank have said UK is first country that has been assigned with such an outlook by a credit rating body of that standard. They also iterated that it is a cause of great concern even as British economy is slipping into throes of recession with every passing day.
Already FTSE 100 index of some of major stocks traded in London Stock Exchange have fallen in value. As per received information this decrease has been in excess of 3 percent in trading that took place in late afternoon hours on 21st May 2009.
