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FTSE 100 Drifts Lower Ahead Of BoE Rate Decision
(RTTNews) - U.K. stocks fell sharply on Thursday after the U.S. Federal Reserve cut rates as expected and penciled in two more for 2025, fewer than four seen in September.
Investors also braced for the Bank of England's last meeting of the year later in the day.
The central bank is widely expected to hold rates at 4.75 percent after data showed a high rate of wage growth and inflation above the bank's 2 percent target.
The benchmark FTSE 100 was down 90 points, or 1.10 percent, at 8,109 after finishing marginally higher the previous day.
In corporate news, Serco Group shares jumped nearly 7 percent. The outsourcing giant Serco forecast full-year revenue of £4.8bn in line with its prior guidance.
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Korea Interest Rate Decision Due On Thursday
The Bank of Korea will wrap up its monetary policy meeting this morning and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The BoK is expected to keep its benchmark lending rate unchanged at 2.50 percent.
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17 minutes ago
Swiss Franc Advances Against Majors
The Swiss franc climbed against its major counterparts in the New York session on Wednesday.
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1h 45min ago
European Stocks Close On Mixed Note
European stocks turned in a mixed performance on Wednesday as investors largely stayed cautious, looking ahead to chipmaker Nvidia's quarterly earnings announcement, and continuing to assess the political situation in France.
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5h 22min ago
Euro Falls Amid Political Uncertainty
The euro weakened against other major currencies in the European session on Wednesday, as trader's concern about the collapse of France's government.
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9h 38min ago
Bay Street Likely To Open On Positive Note
Canadian shares are likely to open on a positive note on Wednesday, riding on strong earnings from Royal Bank of Canada and National Bank of Canada. Weak commodity prices and concerns on the geopolitical and tariffs front may weigh limit market's upside.
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10h 4min ago
European Stocks Turning In Mixed Performance
European stocks are turning in a mixed performance on Wednesday as political uncertainty in France, and a lack of any significant positive triggers render the mood cautious. Investors are also awaiting earnings updates from AI major NVIDIA.
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10h 30min ago
FTSE 100 Flat In Lackluster Trade; Bank Stocks Drifting Lower
U.K. stocks are somewhat subdued in lackluster trade on Wednesday as investors remain a bit reluctant to make significant moves due to a lack of triggers.
The benchmark FTSE 100 was at 9,266.25 a little before noon, up 0.45 points over previous close.
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11h 20min ago
CAC 40 Advances After Recent Losses
Despite the uncertainty on the political front, the French market is up in positive territory on Wednesday due largely to some bargain hunting at several counters after two successive days of declines. Investors are also looking ahead to AI giant Nvidia's earnings updates.
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11h 35min ago
