FTSE 100 Slips As Resource Stocks Drag On China Concerns

RTTNews | 1086 days ago
FTSE 100 Slips As Resource Stocks Drag On China Concerns

(RTTNews) - U.K. stocks were moving lower on Tuesday, with resource shares declining amid fading hopes of top consumer China easing its strict zero-COVID policy.

Signs of increased coronavirus cases in Guangzhou and other Chinese cities and caution amid the U.S midterm elections also dented sentiment.

The benchmark FTSE 100 was down 24 points, or 0.3 percent, at 7,276 after declining half a percent on Monday.

Miners Anglo American, Antofagasta and Glencore fell 1-2 percent, while oil & gas firm BP Plc gave up 1.7 percent and Shell declined 1.4 percent.

3i Infrastructure jumped 3.4 percent after reporting improved earnings in the first half of the year.

Associated British Foods soared more than 5 percent. After reporting a jump in annual profits, the Primark owner has announced a £500mln share buy-back program for the current financial year.

Hammerson climbed 9 percent. The retail property firm said that footfall at its Irish flagships improved to 90pc of 2019 levels in the third quarter of the year.

read more
Canadian Market Drifts Lower After BoC Rate Decision; Energy, Materials Shares Rise

Canadian Market Drifts Lower After BoC Rate Decision; Energy, Materials Shares Rise

The Canadian market is down in negative territory around noon on Wednesday, weighed down by losses in consumer, healthcare, industrials and real estate sectors. Investors are digesting the Bank of Canada's rate cut decision, and looking ahead to the Federal Reserve's interest rate announcement due later in the day.
RTTNews | 45 minutes ago
U.S. Pending Home Sales Unexpectedly Unchanged In September

U.S. Pending Home Sales Unexpectedly Unchanged In September

After reporting a sharp increase by pending home sales in the U.S. in the previous month, the National Association of Realtors released a report on Wednesday showing pending home sales unexpectedly came in flat in the month of September. NAR said its pending homes sales index was unchanged at 74.8 in September after surging by 4.2 percent in August.
RTTNews | 2h 48min ago
Bank Of Canada Cuts Interest Rates By Another Quarter Point

Bank Of Canada Cuts Interest Rates By Another Quarter Point

The Bank of Canada on Wednesday announced its widely expected decision to lower interest rates once again, cutting rates by a quarter point for the second consecutive meeting. The Canadian central bank said it reduced its target for the overnight rate by 25 basis points to 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.
RTTNews | 2h 50min ago
FTSE 100 Advances As Miners, Pharma Stocks Rally

FTSE 100 Advances As Miners, Pharma Stocks Rally

The U.K. market is up firmly in positive territory on Wednesday, led by gains in mining and pharmaceutical sectors, thanks to a rebound in metal prices and stronger than expected earnings from drug major GSK.
RTTNews | 5h 6min ago
Pound Slides Amid UK Fiscal Concerns

Pound Slides Amid UK Fiscal Concerns

The British pound weakened against other major currencies in the European session on Wednesday, as investors expect that UK Chancellor of the Exchequer Rachel Reeves will have to make tough decisions over where to raise taxes and reduce spending in the approaching Autumn Budget.
RTTNews | 5h 35min ago
CAC 40 Flat In Cautious Trade Ahead Of Fed Rate Decision

CAC 40 Flat In Cautious Trade Ahead Of Fed Rate Decision

French stocks are mostly subdued Wednesday morning with investors largely refraining from making significant moves while awaiting the Federal Reserve's monetary policy announcement later in the day, and looking ahead to the European Central Bank's rate decision and the meeting of U.S. President Donald Trump and his Chinese counterpart Xi Jinping on Thursday.
RTTNews | 5h 56min ago