FTSE 100 Climbs Despite Weak Data

RTTNews | 1270 일 전

(RTTNews) - U.K. stocks rose sharply on Friday, with defensive shares surging amid mounting fears around hawkish central banks and rising risks of a recession.

UK retail sales declined in May as high cost of living pulled consumer sentiment to a record low and weighed on households' spending in food stores, data showed earlier today.

Retail sales volume dropped 0.5 percent month-on-month in May, reversing a revised 0.4 percent increase in April. Economists had forecast sales to drop 0.7 percent after April's initially estimated 1.4 percent increase.

On a yearly basis, overall retail sales volume decreased at a slower pace of 4.7 percent after easing 5.7 percent in April.

Elsewhere, survey results from the market research group Gfk showed that British consumer confidence declined to a new record low in June. The consumer sentiment index dropped one point to -41 from -40 in May.

The consumer mood is currently darker than in the early stages of the Covid pandemic, the result of the 2016 Brexit referendum, and even the shock of the 2008 global financial crisis, and now there is talk of a looming recession, Joe Staton, client strategy director, GfK said.

The benchmark FTSE 100 was up 76 points, or 1.1 percent, at 7,097 after declining 1 percent on Thursday.

Ultra Electronics soared 12.6 percent after Cobham received the green light to take over the defense supplier.

Lamprell, which is facing severe liquidity problems, plummeted 78 percent. The provider of services to the energy industry said that it considers the takeover cash offer from Blofeld Investment Management to be at a significant discount to the prevailing share price.

Essentra, a packaging solutions provider, rose slightly after saying it has sold its ESNT Packaging & Securing Solutions Limited, Essentra Packaging US Inc, and their respective subsidiaries to Mayr-Melnhof Group.

Banking major Barclays gained 0.6 percent after it agreed to buy specialist mortgage lender Kensington Mortgage Co. Ltd.

Plumbing and heating products distributor Ferguson advanced 1.7 percent on share buyback news.

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, with continued weakness in energy stocks as well as technology stocks on uncertainty remains about AI spending and the possibility of a tech bubble. Traders were also reluctant to make significant moves ahead of the release of some key U.S. economic data in the coming days.

RTTNews | 1 시간 21 분 전

Indian Shares Seen Opening Lower As Investors Await Key US Data

Indian shares are seen opening lower on Tuesday, tracking weak cues from global markets in the run-up to the release of key U.S. economic data that could offer clarity on the economic and rate outlook.

RTTNews | 1 시간 30 분 전

Thai Stock Market May See Profit Taking On Tuesday

The Thai stock market has finished higher in two straight sessions, advancing almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,270-point plateau although it's likely to spin its wheels on Tuesday.

RTTNews | 2 시간 8 분 전

Indonesia Shares May Open Under Water On Tuesday

The Indonesia stock market has alternated between positive and negative finishes through the last nine trading days since the end of the two-day winning streak in which it had picked up almost 110 points or 1.3 percent. The Jakarta Composite Index now sits just beneath the 8,650-point plateau and it's looking at another soft start on Tuesday.

RTTNews | 2 시간 38 분 전

Lower Open Anticipated For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had tumbled more than 640 points or 2.6 percent. The Hang Seng Index now sits just beneath the 25,630-point plateau and it's expected to open under pressure again on Tuesday.

RTTNews | 2 시간 53 분 전

Japanese Market Notably Lower

The Japanese stock market is trading notably lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 49,800 level, with weakness across most sectors led by index heavyweights and exporter stocks.

RTTNews | 2 시간 54 분 전

China Stock Market Tipped To Open In The Red On Tuesday

The China stock market headed south again on Monday, one session after ending the three-day losing streak in which it had slipped more than 50 points or 1.3 percent. The Shanghai Composite Index now sits just beneath the 3,870-point plateau and it may extend its losses on Tuesday.

RTTNews | 3 시간 8 분 전

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday, reversing some of the losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving to near the 8,650 level, with gains in mining and financial stocks partially offset by weakness in energy and technology stocks.

RTTNews | 3 시간 17 분 전

EURUSD	1.1757	GBPUSD	1.33724	AUDUSD	0.66327
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