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FTSE 100 Advances Over 0.7% On Surprise Drop In Inflation Rate
(RTTNews) - U.K. stocks are up firmly in positive territory Wednesday morning, outperforming other major markets in Europe, after data showed an unexpected drop in British consumer price inflation in the month of December.
Investors are now looking ahead to the release of U.S. consumer price inflation data for clues about the Federal Reserve's possible moves on interest rates.
The benchmark FTSE 100 gained 58.82 points or 0.72%, climbing to 8,260.36.
Vistry Group is rising more than 5.5%. Taylor Wimpey, Persimmon, Barratt Redrow, Diploma, Lloyds Banking, Howden Joinery and Berkeley Group Holdings are gaining 3 to 4%.
Unite Group, Land Securities, Severn Trent, United Utilities, DCC, British Land Company, Marks & Spencer, Kingfisher, Interteck, Fresnillo, Barclays, Vodafone and Standard Chartered are up 2 to 3%.
Rentokil Initial is declining 1.7%. Anglo American Plc and Imperial Brands are down 1.5% and 1.1%, respectively.
Data from the Office for National Statistics showed UK consumer price inflation moderated unexpectedly in December, registering an annual increase of 2.5% in the month, weaker than the 2.6% rise in November. The rate was seen unchanged at 2.6 percent.
Month-on-month, the CPI climbed 0.3%, following a 0.1% rise in November. Prices were expected to gain 0.4%.
Another data from ONS showed that input prices fell for the fifth straight month in December. Input prices dropped 1.55 annually after a 2.1% drop.
On a monthly basis, input prices edged up 0.1% compared to flat growth in November. Likewise, output prices gained 0.1% after November's 0.4% gain.
A survey of Chief Financial Officers, conducted by the British Retail Consortium, said UK retailers plan to increase prices this year in response to increased National Insurance costs.
Two-thirds of respondents said they will lift prices and around half said they would be reducing number of hours/overtime work, says the survey results.
The impact of the budget on business investment was also clear. About 46% of CFOs said they would 'reduce capital expenditure' and 25% said they would 'delay new store openings.'
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Japanese Market Significantly Higher
The Japanese stock market is trading significantly higher on Tuesday, extending the gains in the previous three sessions, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 44,100 level to record all-time highs, after Prime Minister Shigeru Ishiba announced his resignation, with gains across most sectors led by exporters and technology stocks.
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19 minutes ago
Indonesia Bourse Expected To Halt Its Slide On Tuesday
The Indonesia stock market has moved lower in two straight sessions, sinking almost 120 points or 1.8 percent in that span. The Jakarta Composite Index now rests just above the 7,765-point plateau although it may stop the bleeding on Tuesday.
The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow that lead.
The JCI finished sharply lower on Monday following losses from the finance, food and telecom stocks, while the resource companies were mixed.
For the day, the index tumbled 100.50 points or 1.28 percent to finish at 7,766.85 after trading between 7,766.85 and 7,934.99.
Among the actives, Bank CIMB Niaga dipped 0.29 percent, while Bank Mandiri tanked 4.06 percent, Bank Danamon Indonesia skidded 1.18 percent, Bank Negara Indonesia stumbled 4.35 percent, Bank Central Asia surrendered 3.75 percent, Bank Rakyat Indonesia retreated 2.50 percent, Indosat Ooredoo Hutchison declined 2.04 percent, Indofood Sukses Makmur slumped 1.33 percent, United Tractors surged 4.34 percent, Astra International tumbled 1.36 percent, Energi Mega Persada dropped 2.50 percent, Astra Agro Lestari shed 0.68 percent, Aneka Tambang soared 6.49 percent, Vale Indonesia eased 0.26 percent, Timah rallied 5.83 percent, Bumi Resources sank 3.57 percent and Indocement and Semen Indonesia were unchanged.
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20 minutes ago
Hong Kong Shares Poised To Open To The Upside
The Hong Kong stock market has moved higher in consecutive trading days, climbing more than 675 points or 2.7 percent along the way. The Hang Seng Index now sits just above the 25,630-point plateau and it may see mild upside again on Tuesday.
The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow that lead.
The Hang Seng finished modestly higher on Monday following gains from the property stocks, technology companies and financial shares.
For the day, the index gained 215.93 points or 0.85 percent to finish at 25,633.91 after trading between 25,387.81 and 25,664.01.
Among the actives, Alibaba Group spiked 4.17 percent, while ANTA Sports climbed 0.85 percent, China Life Insurance sank 0.35 percent, China Mengniu Dairy and Nongfu Spring both shed 0.20 percent, China Resources Land improved 0.45 percent, CITIC surged 6.81 percent, CNOOC added 0.40 percent, CSPC Pharmaceutical accelerated 2.59 percent, Galaxy Entertainment advanced 0.58 percent, Hang Lung Properties gained 0.12 percent, Henderson Land increased 0.23 percent, Hong Kong & China Gas jumped 1.74 percent, Industrial and Commercial Bank of China collected 0.35 percent, JD.com strengthened 1.06 percent, Lenovo plunged 3.00 percent, Li Auto stumbled 1.02 percent, Li Ning rose 0.11 percent, Meituan slumped 0.97 percent, New World Development skyrocketed 17.40 percent, Techtronic Industries dipped 0.10 percent, Xiaomi Corporation rallied 2.05 percent, WuXi Biologics soared 5.52 percent and Haier Smart Home and Alibaba Health Info were unchanged.
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35 minutes ago
Australian Market Modestly Lower
The Australian stock market is trading modestly lower on Tuesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,850 level, with weakness in iron ore miners, financial and energy stocks partially offset by gains in gold miners.
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45 minutes ago
Additional Support Predicted For China Stock Market
The China stock market has finished higher in back-to-back sessions, gathering more than 60 points or 1.6 percent along the way. The Shanghai Composite Index now sits just above the 3,825-point plateau and it has another firm lead for Tuesday's trade.
The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow that lead.
The SCI finished modestly higher on Monday as gains from the property and energy stocks were offset by weakness from the financial and resource sectors.
For the day, the index rose 14.33 points or 0.38 percent to finish at 3,826.84 after trading between 3,803.60 and 3,833.14. The Shenzhen Composite Index gained 21.57 points or 0.90 percent to end at 2,427.39.
Among the actives, Industrial and Commercial Bank of China shed 0.54 percent, while Bank of China dropped 0.91 percent, Agricultural Bank of China lost 0.55 percent, China Merchants Bank sank 0.77 percent, Bank of Communications retreated 1.24 percent, China Life Insurance slumped 0.87 percent, Jiangxi Copper tanked 2.93 percent, Aluminum Corp of China (Chalco) skidded 1.04 percent, Yankuang Energy jumped 1.62 percent, PetroChina eased 0.11 percent, China Petroleum and Chemical (Sinopec) dipped 0.18 percent, Huaneng Power rallied 2.52 percent, China Shenhua Energy slipped 0.29 percent, Gemdale soared 4.36 percent, Poly Developments rose 0.26 percent and China Vanke spiked 2.58 percent.
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50 minutes ago
Taiwan Stock Market Expected To Open In The Green On Tuesday
The Taiwan stock market has tracked higher in four straight sessions, collecting more than 525 points or 2.1 percent along the way. The Taiwan Stock Exchange now sits just beneath the 24,550-point plateau and it's tipped to open to the upside again on Tuesday.
The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow that lead.
The TSE finished modestly higher on Monday following mixed performances from the financial shares, technology stocks and plastics companies.
For the day, the index picked up 52.80 points or 0.22 percent to finish at 24,547.38 after trading between 24,526.14 and 24,729.96.
Among the actives, Mega Financial dropped 0.97 percent, while First Financial collected 0.68 percent, E Sun Financial tanked 2.04 percent, United Microelectronics Corporation advanced 0.97 percent, Hon Hai Precision sank 0.73 percent, Largan Precision fell 0.21 percent, Catcher Technology climbed 1.07 percent, MediaTek shed 0.35 percent, Novatek Microelectronics lost 0.34 percent, Formosa Plastics improved 0.93 percent, Nan Ya Plastics eased 0.13 percent, Asia Cement was down 0.27 percent and Cathay Financial, CTBC Financial, Fubon Financial, Taiwan Semiconductor Manufacturing Company and Delta Electronics were unchanged.
The lead from Wall Street is cautiously optimistic as the major averages opened mixed on Monday but all finished with modest gains.
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1h 20min ago
Singapore Stock Market May Add To Its Winnings On Tuesday
The Singapore stock market has moved higher in three straight sessions, gathering more than 20 points or 0.4 percent along the way. The Straits Times Index now sits just shy of the 4,310-point plateau and it's tipped to open in the green again on Tuesday.
The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow that lead.
The STI finished barely higher on Monday following mixed performances from the financial shares, property stocks and industrial issues.
For the day, the index perked 1.44 points or 0.03 percent to finish at 4,308.52 after trading between 4,296.13 and 4,319.06.
Among the actives, CapitaLand Ascendas REIT and Frasers Logistics & Commercial Trust both strengthened 1.08 percent, while CapitaLand Integrated Commercial Trust rallied 1.33 percent, CapitaLand Investment added 0.72 percent, City Developments advanced 1.05 percent, Comfort DelGro jumped 1.36 percent, DBS Group collected 0.08 percent, DFI Retail Group sank 0.60 percent, Hongkong Land dropped 0.94 percent, Keppel DC REIT increased 0.86 percent, Keppel Ltd was up 0.12 percent, Mapletree Pan Asia Commercial Trust accelerated 1.44 percent, Mapletree Industrial Trust improved 0.96 percent, Mapletree Logistics Trust spiked 1.63 percent, Oversea-Chinese Banking Corporation eased 0.18 percent, SATS gained 0.61 percent, Seatrium Limited lost 0.42 percent, SembCorp Industries rose 0.49 percent, Singapore Technologies Engineering perked 0.25 percent, SingTel tumbled 1.37 percent, Thai Beverage climbed 1.06 percent, United Overseas Bank shed 0.53 percent, UOL Group gathered 0.27 percent, Wilmar International fell 0.34 percent, Yangzijiang Financial surged 3.81 percent, Yangzijiang Shipbuilding soared 2.26 percent and Genting Singapore was unchanged.
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1h 50min ago
Malaysia Stock Market May Extend Monday's Gains
The Malaysia stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gathered just 3 points or 0.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,585-point plateau and it may see additional support on Tuesday.
The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow that lead.
The KLCI finished modestly higher on Monday following gains from the financial shares, plantation stocks and industrials.
For the day, the index added 7.44 points or 0.47 percent to finish at 1,585.59 after trading between 1,579.57 and 1,587.16.
Among the actives, Axiata jumped 1.65 percent, while Celcomdigi slumped 1.08 percent, CIMB Group lost 0.41 percent, Gamuda added 0.54 percent, IHH Healthcare gathered 0.14 percent, Kuala Lumpur Kepong gained 0.40 percent, Maxis rose 0.28 percent, Maybank and Hong Leong Bank both were up 0.10 percent, MISC perked 0.13 percent, MRDIY tumbled 3.16 percent, Nestle Malaysia increased 0.82 percent, Petronas Chemicals surged 5.00 percent, Petronas Dagangan strengthened 1.56 percent, Petronas Gas dropped 0.86 percent, PPB Group soared 3.12 percent, Press Metal shed 0.54 percent, Public Bank collected 0.23 percent, QL Resources fell 0.24 percent, RHB Bank climbed 1.23 percent, Sime Darby accelerated 2.46 percent, SD Guthrie advanced 1.19 percent, Telekom Malaysia sank 0.71 percent, Tenaga Nasional rallied 1.99 percent, YTL Corporation improved 1.20 percent, YTL Power spiked 2.72 percent and 99 Speed Mart Retail, AMMB Holdings, IOI Corporation and Sunway were unchanged.
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2h 20min ago
