FTSE 100 Drifts Lower Ahead Of BoE Rate Decision
(RTTNews) - U.K. stocks fell sharply on Thursday after the U.S. Federal Reserve cut rates as expected and penciled in two more for 2025, fewer than four seen in September.
Investors also braced for the Bank of England's last meeting of the year later in the day.
The central bank is widely expected to hold rates at 4.75 percent after data showed a high rate of wage growth and inflation above the bank's 2 percent target.
The benchmark FTSE 100 was down 90 points, or 1.10 percent, at 8,109 after finishing marginally higher the previous day.
In corporate news, Serco Group shares jumped nearly 7 percent. The outsourcing giant Serco forecast full-year revenue of £4.8bn in line with its prior guidance.
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Darden Restaurants Lifts FY25 Sales Forecast After Q2 Beats Market; Stock Climbs
Shares of Darden Restaurants Inc. were gaining more than 9 percent in the pre-market activity on the NYSE after the company maintained its fiscal 2025 earnings view, and lifted sales forecast to reflect the recently acquired Chuy's operating results. In its second quarter, profit and sales increased and beat market estimates.
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Bank Of England Holds Key Rate Steady; More Members Sought Reduction
The Bank of England decided to leave its benchmark rate unchanged on Thursday as majority of policymakers called for a gradual approach to the withdrawal of policy restrictiveness amid acceleration in inflation and wage growth, while the divide in the rate-setting body widened. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to hold the bank rate at 4.75 percent.
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Philly Fed Index Unexpectedly Slides Further Into Negative Territory In December
Philadelphia-area manufacturing activity declined overall in the month of December, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
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hace 5h 58min
U.S. GDP Unexpectedly Surges More Than Previously Estimated In Q3
The Commerce Department released a report on Thursday showing the pace of U.S. economic growth unexpectedly surged by more than previously estimated in the third quarter.
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hace 6h 4min
U.S. Weekly Jobless Claims Fall More Than Expected
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended December 14th.
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hace 6h 7min
Bay Street Likely To See Wild Swings At Open
Weak commodity prices point to a lower opening for Canadian shares on Thursday, but bargain hunting after previous session's sharp setback may help limit market's downside, and might even lift prices of some severely battered stocks.
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hace 6h 50min
Riksbank Signals End To Easing Cycle
Sweden's central bank lowered its policy rate for a fifth time this year, cutting it by 25 basis points in order to support the economy and signaled one last reduction in the first half of next year. The Executive Board of Riksbank, led by Governor Erik Thedéen, decided to cut the policy rate to 2.50 percent from 3.0 percent on Thursday. The outcome matched expectations.
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hace 7h 2min
Philippines Cuts Policy Rate To 5.75%
The Philippine central bank decided to reduce its benchmark rate by 25 basis points on Thursday as inflation is projected to remain within the target range and, hinted at further policy easing next year. The Monetary Board of the Bangko Sentral ng Pilipinas lowered the target reverse repurchase rate to 5.75 percent from 6.00 percent.
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