FTSE 100 Slumps Dragged Down By Banks

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FTSE 100 Slumps Dragged Down By Banks

(RTTNews) - U.K. stocks tumbled on Friday as banks plummeted on concerns over the health of the U.S. financial sector.

Investors also looked ahead to the release of a key U.S. jobs report later in the day that could shed further light on the rate outlook.

The benchmark FTSE 100 was down 149 points, or 1.9 percent, at 7,731 after losing 0.6 percent on Thursday.

Barclays, Lloyds, Standard Chartered and Natwest lost 3-4 percent after SVB Financial Group, which specializes in venture-capital financing, announced it had suffered significant losses on its portfolio.

Separately, crypto banking giant Silvergate said it planned to close as the sector faces more turmoil, raising concerns about the wider financial sector.

Berkeley Group Holdings was little changed. The housebuilder maintained its 2023 outlook despite a slowdown in the property sector.

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Swiss Market Ends Modestly Higher

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European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

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U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

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

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Eurozone Private Sector Continues To Expand

Eurozone Private Sector Continues To Expand

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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.
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