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FTSE 100 Edges Higher Before Budget

RTTNews | 679 days ago

FTSE 100 Edges Higher Before Budget

(RTTNews) - U.K. stocks edged up slightly on Wednesday ahead of finance minister's budget update. Chancellor of the Exchequer Jeremy Hunt will deliver the 2023 Autumn Statement later today, outlining the government's fiscal plan for the year ahead.

Hunt suggested that he will cut taxes on business to support economic growth. His options to cut taxes are limited as public debt now remains close to 100 percent of gross domestic product, which is the highest since 1960s. The announcement is due at around 7.30 am ET.

The benchmark FTSE 100 was up 12 points, or 0.2 percent, at 7,493 after losing 0.2 percent on Tuesday.

In corporate news, software firm Sage jumped 10 percent after reporting strong revenue growth in its full-year results and launching a share buyback.

Home improvement retailer Kingfisher slumped 7 percent after cutting its profit outlook for the second time in three months.

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Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is notably higher on Thursday, snapping a four-session losing streak, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 44,800 level, with gains in index heavyweights and technology stocks partially offset by weakness in automakers, exporters and financial stocks.

RTTNews | 10 minutes ago

Indonesia Stock Market May Snap Losing Streak

Indonesia Stock Market May Snap Losing Streak

The Indonesia stock market has finished lower in two straight sessions, shedding almost 80 points or 1 percent in that span. The Jakarta Composite Index sits just above the 8,040-point plateau although it's expected to open to the upside on Thursday.

RTTNews | 21 minutes ago

Australian Market Notably Higher

Australian Market Notably Higher

The Australian market is trading notably higher on Thursday, reversing the slight losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,900 level, with gains across most sectors led by mining and technology stocks. Energy stocks are the only weak spot.

RTTNews | 37 minutes ago

Win Streak May Continue For Hong Kong Shares

Win Streak May Continue For Hong Kong Shares

Ahead of Wednesday's holiday for National Day, the Hong Kong stock market had moved higher in back-to-back sessions, advancing almost 720 points or 2.8 percent along the way. The Hang Seng Index now sits just above the 26,850-point plateau and it may extend its gains on Thursday.

RTTNews | 51 minutes ago

Taiwan Bourse May Reclaim 26,000-Point Level

Taiwan Bourse May Reclaim 26,000-Point Level

The Taiwan stock market has moved higher in back-to-back sessions, collecting more than 400 points or 1.6 percent along the way. The Taiwan Stock Exchange now sits just above the 25,980-point plateau and it may see additional support on Thursday.

RTTNews | 1h 21min ago

Singapore Stock Market Tipped To Open In The Green

Singapore Stock Market Tipped To Open In The Green

The Singapore stock market has moved higher in three straight sessions, adding more than 55 points or 1.3 percent along the way. The Straits Times Index now sits just above the 4,320-point plateau and it may add to its winnings again on Thursday.

RTTNews | 1h 51min ago

Malaysia Bourse May Extend Winning Streak

Malaysia Bourse May Extend Winning Streak

The Malaysia stock market has moved higher in four straight sessions, collecting more than 20 points or 1.2 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,620-point plateau and it may tick higher again on Thursday.

RTTNews | 2h 21min ago

South Korea Inflation Jumps 0.5% In September

South Korea Inflation Jumps 0.5% In September

Consumer prices in South Korea were up a seasonally adjusted 0.5 percent on month in September, Statistics Korea said on Thursday.

RTTNews | 2h 35min ago

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