FTSE 100 Drifts Lower As Chancellor Jeremy Hunt Promises Tax Cuts
(RTTNews) - U.K. stocks traded lower on Friday as chancellor Jeremy Hunt delivers a speech on the state of the economy ahead of the general election.
The chancellor promised further tax cuts if the Conservatives win the general election, and has accused his shadow, Labour's Rachel Reeves, of plotting hikes to fund the opposition party's spending pledges.
The benchmark FTSE 100 was down 26 points, or 0.3 percent, at 8,412 after finishing marginally lower on Thursday.
In corporate news, property development firm Land Securities fell 2.3 percent after annual earnings from rental income dropped to £371 million from £393 million in 2023.
Consumer goods giant Unilever rose half a percent after launching its €1.5bn share buyback program.
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Swiss Market Ends Weak For 2nd Straight Day
The Switzerland market ended weak on Friday, extending losses from the previous session, amid political tensions in Europe, and continued uncertainty about interest rates.
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4h 9min ago
European Stocks Close Weak As Political Tensions, Rate Uncertainty Continue To Weigh
European stocks closed weak on Friday, with several major markets falling to multi-week or multi-month lows, amid uncertainty about interest rates, and political tensions in Europe.
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4h 21min ago
Pound Falls Amid Risk Aversion
The pound lost ground against its major counterparts on Friday, as European shares fell amid persistent concerns about the upcoming parliamentary elections in France.
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6h 5min ago
U.S. Consumer Sentiment Unexpectedly Drops To Seven-Month Low In June
The University of Michigan released preliminary data on Friday unexpectedly showing a continued deterioration in U.S. consumer sentiment in the month of June. The report said the consumer sentiment index fell to 65.6 in June after tumbling to 69.1 in May. Economists had expected the index to rebound to 72.0.
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7h 0min ago
U.S. Import Price Unexpectedly Decrease 0.4% In May
A report released by the Labor Department on Friday showed unexpected decreases by U.S. import and export prices in the month of May. The Labor Department said import prices fell by 0.4 percent in May following a 0.9 percent advance in April. Economists had expected import prices to inch up by 0.1 percent.
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7h 50min ago
TriplePoint Venture Growth BDC CFO Christopher Mathieu Plans To Retire
TriplePoint Venture Growth BDC Corp. (TPVG) announced Friday that Christopher Mathieu plans to retire as the Chief Financial Officer, effective as of the close of business on August 9, 2024. He will continue to serve as an advisor through December 31, 2024 to provide a smooth transition.
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8h 27min ago
Bay Street Likely To Open On Subdued Note
Lower futures and weakness in European markets point to a subdued start for Canadian stocks Friday morning. However, firm metal prices could trigger some strong buying in the materials sector and help limit market's downside.
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8h 30min ago
U.S. Import, Export Prices Unexpectedly Decrease In May
A report released by the Labor Department on Friday showed unexpected decreases by U.S. import and export prices in the month of May.
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8h 37min ago
