AGL 39.58 Decreased By ▼ -0.42 (-1.05%)
AIRLINK 131.22 Increased By ▲ 2.16 (1.67%)
BOP 6.81 Increased By ▲ 0.06 (0.89%)
CNERGY 4.71 Increased By ▲ 0.22 (4.9%)
DCL 8.44 Decreased By ▼ -0.11 (-1.29%)
DFML 41.47 Increased By ▲ 0.65 (1.59%)
DGKC 82.09 Increased By ▲ 1.13 (1.4%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 72.87 Decreased By ▼ -1.56 (-2.1%)
FFL 12.26 Increased By ▲ 0.52 (4.43%)
HUBC 110.74 Increased By ▲ 1.16 (1.06%)
HUMNL 14.51 Increased By ▲ 0.76 (5.53%)
KEL 5.19 Decreased By ▼ -0.12 (-2.26%)
KOSM 7.61 Decreased By ▼ -0.11 (-1.42%)
MLCF 38.90 Increased By ▲ 0.30 (0.78%)
NBP 64.01 Increased By ▲ 0.50 (0.79%)
OGDC 192.82 Decreased By ▼ -1.87 (-0.96%)
PAEL 25.68 Decreased By ▼ -0.03 (-0.12%)
PIBTL 7.34 Decreased By ▼ -0.05 (-0.68%)
PPL 154.07 Decreased By ▼ -1.38 (-0.89%)
PRL 25.83 Increased By ▲ 0.04 (0.16%)
PTC 17.81 Increased By ▲ 0.31 (1.77%)
SEARL 82.30 Increased By ▲ 3.65 (4.64%)
TELE 7.76 Decreased By ▼ -0.10 (-1.27%)
TOMCL 33.46 Decreased By ▼ -0.27 (-0.8%)
TPLP 8.49 Increased By ▲ 0.09 (1.07%)
TREET 16.62 Increased By ▲ 0.35 (2.15%)
TRG 57.40 Decreased By ▼ -0.82 (-1.41%)
UNITY 27.51 Increased By ▲ 0.02 (0.07%)
WTL 1.37 Decreased By ▼ -0.02 (-1.44%)
BR100 10,504 Increased By 59.3 (0.57%)
BR30 31,226 Increased By 36.9 (0.12%)
KSE100 98,080 Increased By 281.6 (0.29%)
KSE30 30,559 Increased By 78 (0.26%)

Sterling ticked down against the euro on Thursday with the absence of major UK data leaving investors to concentrate on the European Central Bank signalling intent to raise euro area borrowing costs next month.
The ECB left interest rates on hold at 3.25 percent and all-but confirmed expectations for a December hike. ECB President Jean-Claude Trichet told a news briefing that the bank would "exercise strong vigilance" over the risks to price stability.
That phrase is one that market analysts say signals the ECB is ready to hike rates again at its December 7 meeting. "Much of what we heard from Trichet was expected ... (the euro) is caught in the 66.70-67.00 (pence) range for now," said Daragh Maher, senior currency strategist at Calyon.
At 1543 GMT, the pound was down 0.1 percent against the euro at 66.90 pence, off a 15-month peak of 66.70 reached on Tuesday. Against the dollar, sterling was steady at $1.9081, compared with a near-three-month peak of $1.9137 on Wednesday after weaker-than-expected US manufacturing growth data sparked fears of an economic downturn.
In Britain, investors were looking ahead to October's services sector Purchasing Managers' Index on Friday, which is forecast at 56.7, down from September's 57.0.
That would still be well above the 50 line between contraction and growth, keeping intact the view that the Bank of England will raise interest rates to 5 percent next Thursday.

Copyright Reuters, 2006

Comments

Comments are closed.