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FTSE 100 Rises As GDP Beats Forecasts
(RTTNews) - U.K stocks rose notably on Friday as data showed the British economy unexpectedly grew in November.
GDP grew 0.1 percent in the month as food and drink businesses benefited from the FIFA World Cup.
The benchmark FTSE 100 climbed 47 points, or 0.6 percent, to 7,838 after climbing 0.9 percent in the previous session.
Miners extended recent gains, with Antofagasta and Glencore rising about 2 percent each after China's exports and imports figures came in above forecasts.
Banks Standard Chartered and HSBC Holdings rallied 1-2 percent.
Housebuilder Taylor Wimpey rose half a percent after saying it is planning job cuts to keep a lid on costs.
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Yen Slides Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Wednesday.
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59 minutes ago
China Unveils Monetary Easing Measures
The People's Bank of China reduced its benchmark interest rate and reserve requirement ratio and also unveiled a slew of measures to support economy hit by trade tariffs. The PBoC cut the 7-day reverse repo rate by 10 basis points to 1.4 percent. The new rate takes effect on May 8.
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1h 14min ago
European Shares Seen Up As China Eases Policy To Boost Growth
European stocks are seen opening broadly higher on Wednesday after chipmaker AMD reported better-than-expected earnings results and Chinese authorities announced a raft of stimulus measures, including interest rate cuts and a major liquidity injection, to help boost the economy.
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2h 56min ago
European Economic News Preview: Germany Factory Orders Data Due
Factory orders and construction Purchasing Managers' survey results from Germany are due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany's factory orders data for March. Orders are forecast to grow 1.4 percent month-on-month, after remaining flat in February.
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3h 11min ago
Sensex, Nifty Marginally Higher In Cautious Trade
Indian shares were flat to slightly higher on Wednesday after the Indian Armed Forces launched precision missile strikes under 'Operation Sindoor', targeting nine terrorist sites in Pakistan and Pakistan-occupied Kashmir (PoK) in a strong response to the brutal Pahalgam terror attack.
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4h 6min ago
Australian Market Extends Early Gains In Mid-market
The Australian stock market is extending its early gains in mid-market moves on Wednesday, recouping some of the losses in the previous two sessions, with the benchmark S&P/ASX 200 staying well below the 8,200 level, despite the broadly negative cues from Wall Street overnight, with gains across most sectors led by mining and technology stocks.
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5h 8min ago
Asian Markets Trade Mostly Higher
Asian stock markets are trading mostly higher on Wednesday, despite the negative cues from Wall Street overnight, as traders react to China's central bank saying it would cut its key policy rate by 10 basis points and lower the reserve requirement ratio by 50 basis points to boost growth. There is also confirmation that U.S. and Chinese officials are set to start formal trade talks this week.
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5h 23min ago
Sensex, Nifty Set To Drift Lower After Strike On Pakistan Terror Bases
Indian shares look set to open lower on Wednesday after the Indian Armed Forces launched precision missile strikes under 'Operation Sindoor', targeting nine terrorist sites in Pakistan and Pakistan-occupied Kashmir (PoK) in a strong response to the brutal Pahalgam terror attack.
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5h 51min ago
