FTSE 100 Grappling With Restrictive Monetary Policy

RTTNews | 658 วันที่ผ่านมา

(RTTNews) - Euphoria over dovish comments by Fed officials and easing inflation in Europe failed to lift sentiment for the FTSE 100 benchmark of the London Stock Exchange. The index is still trading in the overnight negative zone. Bank of England Governor Andrew Bailey on Wednesday stated that the central bank would do what it takes to get inflation down to its 2% target, reiterating the focus on a restrictive monetary policy framework.

FTSE 100 oscillated between 7,455.44 and 7,408.79 as compared with the previous day's closing level of 7,455.24.

The benchmark index of the London Stock Exchange is currently trading at 7,446.77, having slipped 0.11 percent on an overnight basis.

In the 100-scrip index, 46 are trading in the overnight negative zone.

Ocado Group and Fresnillo have surged more than 4 percent. Rightmove and M&G have rallied more than 2 percent. Endeavour Mining, Rolls Royce Holdings, Diploma, AstraZeneca and Melrose Industries have all gained more than 1 percent.

Centrica, Standard Chartered and HSBC Holdings have slipped more than 2 percent. Aviva. Beazley, Entain and Rentokil Initial have also slipped close to 2 percent.

Amidst the Dollar Index rising 0.16 percent to 102.91, the GBP/USD pair decreased 0.09 percent overnight to 1.2681. The pair ranged between 1.2734 and 1.2674 in the day's trade.

Yields on U.K.'s ten-year bonds also eased, albeit on a lower scale amidst concerns about Bank of England's interest rate trajectory. Yields on U.K.'s ten-year bonds decreased 0.25 percent to 4.1635. It was 4.174 percent at the previous close.

Fed Cuts Rates By Quarter Point, Forecasts Two More Rate Cuts This Year

In a widely expected move, the Federal Reserve on Wednesday announced that it has decided to lower interest rates by a quarter point, marking the first rate cut of 2025. The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 4.0 percent to 4.25 percent, citing a shift in the balance of risks.

RTTNews | 1 ชม. 40 นาทีที่ผ่านมา

Swiss Market Ends Marginally Down

After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly moved above the flat line in late afternoon trade on Wednesday, but failed to sustain momentum and settled marginally down with a few frontline stocks turning weak again.

RTTNews | 2 ชม. 6 นาทีที่ผ่านมา

European Markets Close Mixed After Cautious Session

European stocks turned in a mixed performance on Wednesday with investors digesting regional economic data, and awaiting the Federal Reserve's monetary policy announcement due later in the day.

RTTNews | 2 ชม. 36 นาทีที่ผ่านมา

Canadian Market Modestly Higher At Noon; BoC Lowers Interest Rate

Canadian stocks are up in positive territory around noon on Wednesday with investors reacting to the Bank of Canada's decision to cut interest rates by 25 basis points. The recent weak labor market data and economic slowdown have raised prospects of further easing by the Canadian central bank.

RTTNews | 4 ชม. 2 นาทีที่ผ่านมา

Bank Of Canada Lowers Interest Rates By A Quarter Point

After leaving interest rates unchanged for three straight meetings, the Bank of Canada on Wednesday announced its widely expected decision to lower rates by a quarter point. The Bank of Canada said it decided to reduce its target for the overnight rate by 25 basis points to 2.5 percent, with the Bank Rate at 2.75 percent and the deposit rate at 2.45 percent.

RTTNews | 4 ชม. 44 นาทีที่ผ่านมา

U.S. Housing Starts Pull Back Much More Than Expected In August

After reporting significant increases in new residential construction in the U.S. over the two previous months, the Commerce Department released a report on Wednesday showing housing starts pulled back by much more than expected in the month of August. The Commerce Department said housing starts plummeted by 8.5 percent to an annual rate of 1.307 million in August.

RTTNews | 5 ชม. 43 นาทีที่ผ่านมา

UK Inflation Unchanged At 3.8%

U.K. consumer price inflation remained sticky in August on higher food prices, official data showed Wednesday, ahead of the policy announcement by the Bank of England on Thursday. The consumer price index rose 3.8 percent on a yearly basis in August, the same rate of increase as seen in July, the Office for National Statistics reported. Inflation matched economists' expectations and stood well ab

RTTNews | 6 ชม. 55 นาทีที่ผ่านมา

U.S. Housing Starts Plunge 8.5% In August, Much More Than Expected

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EURUSD	1.18225	GBPUSD	1.3634	AUDUSD	0.66578
USDJPY	146.859	USDCAD	1.37675	USDCHF	0.78854