FTSE 100 Tumbles As Record Wage Growth Fuels Inflation Concerns

RTTNews | Pred 721 dňami
FTSE 100 Tumbles As Record Wage Growth Fuels Inflation Concerns

(RTTNews) - U.K. stocks fell sharply on Tuesday after data showed the U.K. unemployment rate increased unexpectedly in the second quarter.

The jobless rate rose to 4.2 percent in three months to June, while it was forecast to remain unchanged at 4.0 percent - according to the office for National Statistics. Wage growth accelerated at the strongest pace on record between April and June - fueling concerns over inflation and further interest-rate rises.

The benchmark FTSE 100 was down 88 points, or 1.2 percent, at 7,418 after losing 0.2 percent on Monday.

In corporate news, retailer Marks & Spencer jumped 6.5 percent after raising its profit outlook.

Bunzl dropped 1.3 percent after the distribution and service specialist announced several acquisitions in Spain, Brazil, Canada and the Netherlands.

Bookmaker 888 Holdings fell nearly 2 percent after it swung to a pre-tax loss in the first half of the year on higher costs and expenses.

Likewise, life insurer and asset manager Legal & General tumbled 3.7 percent after it reported a 10 percent drop in assets under management in the year to end June.

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Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

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RTTNews | Pred 2 h 12 min
European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

European markets closed mostly higher on Tuesday, although gains in most of the markets were just marginal or modest, as investors stayed somewhat cautious, reacting to a mixed batch of economic data, and assessing the impact of steep U.S. tariffs on the global economy.
RTTNews | Pred 2 h 33 min
U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.
RTTNews | Pred 5 h 10 min
U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.
RTTNews | Pred 5 h 56 min
Eurozone Private Sector Continues To Expand

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.
RTTNews | Pred 7 h 3 min
Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian stocks may open on a positive note Tuesday morning amid expectations of a rate cut by the Federal Reserve next month. The focus will be on trade talks between Canad and Mexico.
RTTNews | Pred 7 h 15 min