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FTSE 100 Extends Losses Amid Criticism Over Tax Cuts

RTTNews | hace 965

FTSE 100 Extends Losses Amid Criticism Over Tax Cuts

(RTTNews) - U.K. stocks fell on Wednesday to extend losses from the previous session amid concerns that interest rates may soon rise sharply.

The International Monetary Fund has urged the U.K. government to "re-evaluate" a package of unfunded tax cuts, saying it may fuel inflation and would likely increase economic inequality.

New British Chancellor of the Exchequer Kwasi Kwarteng will meet investment banks today following days of turmoil caused by the government's mini budget.

The benchmark FTSE 100 was down 111 points, or 1.6 percent, at 6,873 after declining half a percent the previous day.

Online fashion retailer Boohoo plunged 13 percent after cutting its full-year forecasts.

Burberry Group, a luxury fashion company, rallied 3.6 percent as it announced the appointment of Daniel Lee as new Chief Creative Officer, effective October 3.

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Bay Street Likely To Open On Cautious Note; Inflation Data In Focus

Bay Street Likely To Open On Cautious Note; Inflation Data In Focus

The Canadian market is likely to see a cautious start Tuesday morning with investors reacting to the nation's consumer price inflation data.

RTTNews | hace 2h 30min

U.S. Dollar Slides Amid U.S. Tariff Uncertainty

U.S. Dollar Slides Amid U.S. Tariff Uncertainty

The U.S. dollar weakened against other major currencies in the European session on Tuesday, due to fiscal and economic concerns amid uncertainties about U.S. tariffs.

RTTNews | hace 2h 56min

FTSE 100 Moderately Higher As Investors Focus On Earnings

FTSE 100 Moderately Higher As Investors Focus On Earnings

U.K. stocks are up in positive territory on Tuesday, extending gains to a fourth straight session. The focus largely on corporate earnings updates, and the developments on the trade front.

RTTNews | hace 3h 44min

Home Depot Q1 Profit Misses Market, But Sales Beat; Backs Outlook; Stock Up

Home Depot Q1 Profit Misses Market, But Sales Beat; Backs Outlook; Stock Up

Home Depot Inc. reported Tuesday weak first-quarter profit below market estimates, while sales grew from last year and beat the Street view with slightly higher comparable sales in the U.S. Further, the home improvement retailer maintained its fiscal 2025 guidance, expecting weak earnings, but higher sales and comparable sales. In the pre-market activity on the NYSE, Home Depot shares were gaining

RTTNews | hace 4h 3min

CAC 40 Modestly Higher

CAC 40 Modestly Higher

The French market is modestly higher in cautious trade on Tuesday with investors closely following the developments on the geopolitical front. Tensions between Russia and Ukraine linger despite an announcement from U.S. President Donald Trump that the two nations would soon begin ceasefire negotiations.

RTTNews | hace 4h 16min

U.S. Dollar Falls Against Majors

U.S. Dollar Falls Against Majors

The U.S. dollar weakened against other major currencies in the European session on Tuesday.

RTTNews | hace 4h 21min

Sensex, Nifty Tumble As Investor Seek Tariff Clarity

Sensex, Nifty Tumble As Investor Seek Tariff Clarity

Indian shares fell sharply on Tuesday as investors watched the latest developments in the ongoing India-U.S. trade discussions.

RTTNews | hace 4h 23min

DAX Up Over 0.5% In Cautious Trade

DAX Up Over 0.5% In Cautious Trade

German stocks are up in positive territory on Tuesday amid easing concerns about tariffs, and in reaction to the widely expected interest rate cut by the People's Bank of China.

RTTNews | hace 4h 35min

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