FTSE 100 Lower Amidst Slump In Manufacturing, Retail Sales

RTTNews | 941 days ago
FTSE 100 Lower Amidst Slump In Manufacturing, Retail Sales

(RTTNews) - FTSE 100 of the London Stock Exchange plunged to a four-week low amidst concerns over prolonged monetary tightening and an impending recession. Recession fears were reinforced with weak PMI and retail sales numbers released earlier in the day.

Whilst the Services PMI rose more-than-expected to 50, from 48.8 previously, Manufacturing PMI declined more-than-expected to 44.7 from 46.5 earlier. The lowest manufacturing PMI reading since May 2020 dampened investor sentiment. The weak retail sales data exacerbated the agony over an impending recession. Retail sales in the U.K. dropped unexpectedly by 0.4%, versus a growth of 0.9% previously and expectations of a 0.3% rise.

FTSE 100 oscillated between 7,429.29 and 7,320.89 versus the previous day's closing level of 7,426.17.

The benchmark index of the London Stock Exchange is currently trading at 7,337.59, down 1.2 percent on an overnight basis.

In the 100-scrip index, only 5 are trading in the overnight green zone.

Standard Chartered dazzled with a 1.75 percent uptick.

Segro is the biggest laggard with a 4.2 percent drop.

Unite Group, Rentokil Initial, Bunzl and Land Securities Group dropped more than 3 percent.

The GBP/USD pair increased to 0.15 percent to trade at 1.2194 amidst the US Dollar Index shedding 0.06 percent to touch 104.49.

Yields on U.K.'s ten-year bonds increased 4.6 percent to 3.3940% from the previous close of 3.2450%.

read more
Japan Stock Market Poised To Snap Losing Streak

Japan Stock Market Poised To Snap Losing Streak

The Japanese stock market has moved lower in three straight sessions, sinking more than 360 points or 0.9 percent in that span. The Nikkei 225 now sits just beneath the 39,570-point plateau although it's likely to stop the bleeding on Tuesday. The global forecast for the Asian markets offers little clarity as traders figure to wait and see what transpires over trade and tariff talks. The European markets were down and the U.S. bourses were slightly higher and the Asian markets figure to split the difference. The Nikkei finished modestly lower on Monday as losses from the financial and technology stocks were mitigated by support from the automobile producers. For the day, the index shed110.06 points or 0.28 percent to finish at 39,459.62 after trading between 39,288.90 and 39,608.02. Among the actives, Nissan Motor accelerated 3.61 percent, while Mazda Motor rose 0.39 percent, Toyota Motor advanced 0.94 percent, Honda Motor improved 0.86 percent, Softbank Group stumbled 3.12 percent, Mizuho Financial sank 0.71 percent, Sumitomo Mitsui Financial fell 0.33 percent, Mitsubishi Electric eased 0.03 percent, Sony Group slipped 0.31 percent, Panasonic Holdings dropped 0.83 percent and Hitachi climbed 1.21 percent.
RTTNews | 11 minutes ago
Additional Upside Seen For South Korea Stock Market

Additional Upside Seen For South Korea Stock Market

The South Korea stock market bounced higher again on Monday, one session after ending the four-day winning streak in which it had rallied more than 130 points or 4.1 percent. Now at a four-year closing high, the KOSPI sits just above the 3,200-point plateau and it may tick higher again on Tuesday. The global forecast for the Asian markets offers little clarity as traders figure to wait and see what transpires over trade and tariff talks. The European markets were down and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.
RTTNews | 26 minutes ago
China GDP Data Due On Tuesday

China GDP Data Due On Tuesday

China will release a batch of data on Tuesday, highlighting a busy day for Asia-Pacific economic activity. On tap are Q2 numbers for gross domestic product and June figures for industrial production, retail sales, fixed asset investment and unemployment.
RTTNews | 1h 26min ago
Canadian Dollar Strengthens Amid Risk Appetite

Canadian Dollar Strengthens Amid Risk Appetite

The Canadian dollar advanced against its most major counterparts in the New York session on Monday, as investors shrugged off tariff threats from President Donald Trump over the weekend.
RTTNews | 2h 23min ago
Swiss Market Settles Slightly Up After Lackluster Session

Swiss Market Settles Slightly Up After Lackluster Session

The Switzerland market, which remained in the red save for a brief while at the fag end of the day's session, settled with a small gain on Monday. The mood in the market was very cautious as trade war fears escalated after U.S. President Donald Trump announced over the weekend that he would impose a 30% tariff on EU imports from August 1.
RTTNews | 5h 36min ago
European Stocks Close Mostly Lower

European Stocks Close Mostly Lower

Despite staging a recovery in late afternoon trades, European markets mostly ended on a weak note on Monday as worries about global trade escalated after U.S. President Donald Trump announced over the weekend that he would levy a 50% tariff on EU imports from August 1.
RTTNews | 5h 55min ago
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares may open on a mixed note Monday morning, tracking a weak lead from European markets and firm commodity prices. The mood is likely to be cautious as investors await Canadian inflation data for the month of June on Tuesday.
RTTNews | 11h 8min ago
Pound Falls As Traders Speculate BoE Rate Cut Decision

Pound Falls As Traders Speculate BoE Rate Cut Decision

The British pound weakened against other major currencies in the European session on Monday, as traders speculate that the Bank of England (BoE) is likely to reduce its interest rate in the next month's monetary policy decision.
RTTNews | 11h 33min ago