FTSE 100 Dips Ahead Of 'tough' Budget

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FTSE 100 Dips Ahead Of 'tough' Budget

(RTTNews) - U.K. stocks fell on Thursday, as investors awaited the nation's budget later in the day that promises to be all pain and hardly any gain.

Britain's finance minister Jeremy Hunt and Prime Minister Rishi Sunak have to unveil a budget that will aim to restore confidence in Britain's economy after the former government's failed "mini budget" less than two months ago.

The benchmark FTSE 100 was down 37 points, or half a percent, at 7,314 after closing 0.3 percent lower on Wednesday.

Spirax-Sarco Engineering shares slumped 4.6 percent after the thermal energy and niche pumping specialist backed its full-year guidance for adjusted operating profit, excluding contributions from the recent acquisitions.

Residential housebuilder Crest Nicholson Holdings declined 1.5 percent. The company said it expects fiscal 2022 adjusted profit before tax to be within previously guided range of 135 million pounds to 140 million pounds.

Grainger rose over 1 percent after it posted 12 percent growth in fiscal year adjusted earnings.

Investec slumped more than 3 percent. The banking and wealth-management group has unveiled a £350m share buyback program following a jump in half-year revenues and profits.

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Australia GDP Data Due On Wednesday

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Swiss Shares Extend Losing Streak

Swiss Shares Extend Losing Streak

The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.
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Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further

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Euro area inflation modestly accelerated to a four-month high, and the core figure was steady around the 2 percent target in August as a slight slowing in both food price growth and services inflation was offset by a smaller decline in energy prices, which suggests that the European Central Bank is set to hold interest rates steady in future policy sessions.
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European Markets Finish In The Red On Tuesday

European Markets Finish In The Red On Tuesday

The major European markets finished firmly under water on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.
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U.S. Construction Spending Unexpectedly Edges Lower In July

U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.
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Domino's Launches Two New Delectable Bread Bites Flavors

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Domino's Pizza, the largest pizza company in the world, announced the launch of two new Bread Bite flavors: Cinnamon and Garlic, to join Domino's Parmesan Bread Bites, adding to its line of oven-baked mouthwatering options for customers to enjoy.
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U.S. Manufacturing Index Inches Up In Line With Estimates In August

U.S. Manufacturing Index Inches Up In Line With Estimates In August

The Institute for Supply Management released a report on Tuesday showing a slight increase by its reading on U.S. manufacturing activity in the month of August, although the index still indicated the sixth consecutive month of contraction.
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