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FTSE 100 Tumbles Ahead Of BoE Rate Decision
(RTTNews) - U.K. stocks fell sharply on Thursday ahead of the Bank of England rate announcement due at noon. Analysts expect another 25-bps rate hike coupled with cautious commentary around the economy.
The benchmark FTSE 100 was down 141 points, or 1.9 percent, at 7,132 after closing 1.2 percent higher on Wednesday.
Fashion retailer ASOS plunged 27 percent and rival Boohoo slumped 18 percent after both reported slowing sales.
CRH, a building materials business, fell 2.6 percent after it has entered into arrangements with UBS A.G., London Branch to repurchase shares on CRH's behalf for up to $300 million.
BHP shares fell over 2 percent. The miner announced it will retain New South Wales Energy Coal in its portfolio.
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Fed Leaves Interest Rates Unchanged In Divided Decision
The Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged for the fifth consecutive meeting. In support of its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run, the Fed said it decided to maintain the target range for the federal funds rate at 4.25 to 4.50 percent.
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Swiss Market Settles Lower After Choppy Session
The Switzerland market ended on a weak note on Wednesday despite spending much of the day's trading session in positive territory. The focus was on corporate earnings and the developments on the trade front.
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European Stocks Close Mixed As Investors React To Earnings, Economic Data
European stocks turned in a mixed performance on Wednesday with investors largely reacting to earnings announcements, and awaiting the Federal Reserve's monetary policy announcement later in the day.
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Canadian Market Modestly Lower As Investors Digest Earnings, BoC Rate Decision
Canadian stocks are turning in a mixed performance on Wednesday with investors digesting Bank of Canada's policy announcement, and reacting to a slew of corporate earnings updates.
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U.S. Pending Home Sales Unexpectedly Decrease In June
Pending home sales in the U.S. unexpectedly decreased in the month of June, according to a report released by the National Association of Realtors on Wednesday. NAR said its pending home sales index slid by 0.8 percent to 72.0 in June after jumping by 1.8 percent to 72.6 in May. Economists had expected pending home sales to rise by 0.2 percent.
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Bank Of Canada Leaves Interest Rates Unchanged For Third Straight Meeting
In a widely expected move, the Bank of Canada on Wednesday announced that it has once again decided to leave interest rates unchanged. The Bank of Canada said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
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U.S. GDP Rebounds In Q2 Amid Sharp Pullback By Imports
The Commerce Department released a report on Wednesday showing the U.S. economy rebounded by more than expected in the second quarter of 2025. The report said real gross domestic product surged by 3.0 percent in the second quarter after falling by 0.5 percent in the first quarter. Economists had expected GDP to jump by 2.5 percent.
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5j 12min yang lalu
U.S. Private Sector Job Growth Exceeds Estimates In July
Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of July. The report said private sector employment jumped by 104,000 jobs in July after slipping by a revised 23,000 jobs in June.
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