FTSE 100 Declines As Inflation Hits New 40-year High

RTTNews | Pred 1067 dňami
FTSE 100 Declines As Inflation Hits New 40-year High

(RTTNews) - U.K. stocks declined on Wednesday as a fall in oil and metal prices weighed on the commodity sector. Surging inflation also revived fears about aggressive monetary tightening and slowing growth.

U.K. consumer price inflation rose further in May at the fastest pace in 40 years on rising energy and food prices, deepening the cost of living crisis.

U.K. consumer price inflation rose to 9.1 percent in May, in line with expectations, from 9.0 percent in April, data from the Office for National Statistics revealed.

On a monthly basis, consumer prices gained 0.7 percent, but much slower than the 2.5 percent increase posted in April.

Another report from the ONS showed that output prices advanced at a faster pace of 15.7 percent year-on-year after rising 14.7 percent in April.

The benchmark FTSE 100 dropped 96 points, or 1.3 percent, to 7,056 after closing 0.4 percent higher on Tuesday.

BP Plc tumbled 3.2 percent and Shell slumped 4.2 percent as oil prices plunged more than $6-a-barrel amid a push by U.S. President Joe Biden to bring down soaring fuel costs.

Miners Anglo American, Antofagasta and Glencore lost 3-5 percent.

JD Sports rallied 3.6 percent after the sportswear retailer posted an annual profit that more than doubled.

read more
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | Pred 19 h 19 min
Swiss Market Ends Weak On Tariff Concerns

Swiss Market Ends Weak On Tariff Concerns

After opening on a positive note and staying above the flat line till about an hour past noon, the Switzerland market tumbled on Friday, hurt by U.S. President Donald Trump's threat that imports from the European Union will face 50% tariffs from June 1st.
RTTNews | Pred 20 h 11 min
European Stocks Closed Weak On Trump's Fresh Tariff Threat

European Stocks Closed Weak On Trump's Fresh Tariff Threat

European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
RTTNews | Pred 20 h 27 min
TSX Recovers After Early Setback; Materials Stocks Move Higher

TSX Recovers After Early Setback; Materials Stocks Move Higher

After a weak start and a subsequent drop to lower levels, the Canadian market recovered well and is down just marginally a little past noon on Friday. The early setback was due to U.S. President Donald Trump's threat that 50% tariffs will be imposed on imports from the European Union beginning June 1st.
RTTNews | Pred 21 h 36 min
U.S. New Home Sales Spike From Downwardly Revised Level In April

U.S. New Home Sales Spike From Downwardly Revised Level In April

The Commerce Department released a report on Friday showing new home sales in the U.S. in the month of April spiked compared to a significantly downwardly revised level in March. The report said new home sales soared by 10.9 percent to an annual rate of 743,000 in April after jumping by 2.6 percent to a downwardly revised rate of 670,000 in March.
RTTNews | Pred 23 h 9 min
Germany Logs Stronger Growth On Tariff Threats

Germany Logs Stronger Growth On Tariff Threats

The German economy grew at a stronger-than-estimated pace in the first quarter as higher tariff threats by the U.S. administration led to the frontloading of orders for the country's goods, lifting exports and industrial production. Gross domestic product grew 0.4 percent, which was double the initial estimate of 0.2 percent, a detailed report from Destatis revealed on Friday.
RTTNews | Pred 1 dňom
Bay Street Likely To Open On Negative Note On Tariff Concerns

Bay Street Likely To Open On Negative Note On Tariff Concerns

Canadian shares look headed for a weak start Friday morning as tariff concerns resurfaced after U.S. President Donald Trump threatened 50% tariffs on EU goods from June 1. Weak oil prices could hurt energy stocks and add to market's downside.
RTTNews | Pred 1 dňom
FTSE Pares Early Gains, Up Marginally In Cautious Trade

FTSE Pares Early Gains, Up Marginally In Cautious Trade

U.K. stocks moved higher Friday morning, reacting to data showing a notable rise in retail sales, and survey showing strong consumer confidence. However, stocks pared gains subsequently in cautious trade and the market was up just marginally a little past noon.
RTTNews | Pred 1 dňom