FTSE 100 Drifts Lower As Chancellor Jeremy Hunt Promises Tax Cuts
(RTTNews) - U.K. stocks traded lower on Friday as chancellor Jeremy Hunt delivers a speech on the state of the economy ahead of the general election.
The chancellor promised further tax cuts if the Conservatives win the general election, and has accused his shadow, Labour's Rachel Reeves, of plotting hikes to fund the opposition party's spending pledges.
The benchmark FTSE 100 was down 26 points, or 0.3 percent, at 8,412 after finishing marginally lower on Thursday.
In corporate news, property development firm Land Securities fell 2.3 percent after annual earnings from rental income dropped to £371 million from £393 million in 2023.
Consumer goods giant Unilever rose half a percent after launching its €1.5bn share buyback program.
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European Shares Fall Amid Data Deluge
European stocks fell in cautious trade on Friday as focus shifted to the U.S. jobs report due later in the day that could influence the timing and pace of Fed rate cuts.
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4h 41min ago
FTSE 100 Edges Lower As US Jobs Data Looms
U.K. stocks were moving lower on Friday as investors digested mixed trade figures from China and awaited the much-anticipated U.S. jobs report for directional cues.
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4h 57min ago
Swiss Franc Rises Against Most Majors
The Swiss franc strengthened against most major currencies in the European session on Friday.
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5h 8min ago
CAC 40 Slides As Trade Gap Widens In April
French stocks traded lower on Friday after data showed the country's trade deficit increased in April as a result of increased imports and a fall in exports.
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5h 13min ago
UK House Prices Log Marginal Fall May: Halifax
UK house market remained broadly stable with a marginal fall in house prices in May, data from the mortgage lender Halifax showed on Friday. House prices dropped unexpectedly by 0.1 percent month-on-month in May after remaining flat in April. Prices were expected to grow 0.2 percent.
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5h 18min ago
DAX Drifts Lower Ahead Of US Jobs Data
German stocks traded lower on Friday as investors digested mixed economic data and awaited the release of U.S. jobs report later in the day for additional clues on the Fed's monetary policy path.
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5h 20min ago
Asian Shares Mixed Ahead Of US Jobs Data
Asian stocks ended mixed on Friday but managed to snap a two-week losing streak following interest-rate cuts from the European Central Bank and Bank of Canada.
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5h 35min ago
CPSC Recalls: Kawasaki Engines, Ascenders, Biometric Gun Safes, Pet Conditioner, Sling Carriers
The U.S. Consumer Product Safety Commission or CPSC has announced recalls including Kawasaki Engines in select lawn and garden equipments, Ropeman 1 Ascenders, Biometric gun safes, pet conditioner, and sling carriers, citing various reasons. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair...
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5h 52min ago
