FTSE 100 Extends Losses Amid Criticism Over Tax Cuts

RTTNews | 961 일 전
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.

read more
Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.
RTTNews | 1 시간 4 분 전
European Stocks Close Week On Positive Note

European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.
RTTNews | 1 시간 27 분 전
Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.
RTTNews | 2 시간 15 분 전
U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.
RTTNews | 4 시간 21 분 전
U.S. Import, Export Prices Unexpectedly Inch Higher In April

U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.
RTTNews | 4 시간 24 분 전
Eurozone Trade Surplus Surges On Exports To US

Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.
RTTNews | 5 시간 14 분 전
Richemont Shares Gain On Higher FY25 Results, Dividend Hike

Richemont Shares Gain On Higher FY25 Results, Dividend Hike

Shares of Richemont SA were gaining around 6 percent in the Swiss trading after the Cartier owner reported higher net profit and sales in its fiscal 2025 on strong Jewellery performance. Meanwhile, earnings from continuing operations was lower than last year amid weak China results. Further, the luxury goods firm declared higher dividend.
RTTNews | 5 시간 20 분 전