FTSE 100 Climbs As Earnings Pick Up Pace

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FTSE 100 Climbs As Earnings Pick Up Pace

(RTTNews) - U.K. stocks advanced on Wednesday as investors cheered Fed Chair Jerome Powell's comments on disinflation and assessed the latest financial results from prominent companies.

The benchmark FTSE 100 climbed 0.7 percent to 7,918 after gaining 0.4 percent in the previous session.

Severn Trent edged down slightly despite the water supply firm reaffirming its fiscal 2023 guidance.

Smurfit Kappa tumbled 3.2 percent. The packaging giant reported a rise in profit in 2022, but box volumes were down around 2 percent against a strong prior year.

Housebuilder Barratt Developments added nearly 2 percent after raising its home completion guidance.

Transport operator FirstGroup soared 5.6 percent after it agreed to buy Ensign Bus Company Ltd. for an undisclosed sum. Asset manager Ashmore gained 1 percent despite reporting sharply lower half-yearly profit.

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UK Construction Sector Continues To Shrink

UK Construction Sector Continues To Shrink

The UK construction sector contracted for the eighth consecutive month in August due to marked reductions in the housing and civil engineering works, survey data published by S&P Global showed on Thursday. The construction Purchasing Managers' Index posted 45.5 in August, up from 44.3 in July. However, the score remained well below the 50.0 mark indicating sharp fall in construction output.
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European Shares Mostly Higher Before Debt Sales

European Shares Mostly Higher Before Debt Sales

European stocks were mostly higher on Thursday as bond market worries subsided, and investors awaited Eurozone retail sales data as well as debt auctions in France and the United Kingdom for direction.
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Asian Shares Mostly Higher; China And Hong Kong Markets Buck Trend

Asian Shares Mostly Higher; China And Hong Kong Markets Buck Trend

Asian stocks rose broadly on Thursday, even as Chinese and Hong Kong markets ended sharply lower following reports that China's financial regulators are considering a number of cooling measures for the stock market, including lifting certain short selling restrictions, increasing checks on speculative trades, and discouraging heavy retail participation.
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German Construction Sector Downturn Deepens

German Construction Sector Downturn Deepens

Germany's construction sector shrank further in August largely due to the steep fall in new orders, survey results from S&P Global showed on Thursday. The HCOB construction Purchasing Managers' Index fell to 46.0 in August from July's 29-month high of 46.3.
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Australia Trade Surplus At 17-Month High; Household Spending Growth Rises

Australia Trade Surplus At 17-Month High; Household Spending Growth Rises

Australia's trade surplus surged to the highest level in more than a year in July and household spending growth accelerated for the third straight month in July, official data showed on Thursday. The trade surplus increased unexpectedly to A$7.3 billion in July from A$5.4 billion in June, the Australian Bureau of Statistics said.
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Sensex, Nifty Rally On GST Rejig

Sensex, Nifty Rally On GST Rejig

Indian shares opened on a buoyant note on Thursday after Finance Minister Nirmala Sitharaman announced significant GST rate cuts, effective September 22.
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Australian Market Extends Early Strong Gains In Mid-market

Australian Market Extends Early Strong Gains In Mid-market

The Australian market is extending its early strong gains in mid-market moves on Thursday, snapping a four-session losing streak, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,800 level, with gains in mining, financial and technology stocks partially offset by weakness in energy stocks.
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