FTSE 100 Edges Higher As Investors Await Cues On Rate Cuts
(RTTNews) - U.K. stocks advanced on Friday as higher oil prices lifted energy stocks and investors braced for Fed Chair Jerome Powell's Jackson Hole speech later in the day.
Bank of England governor Andrew Bailey is also scheduled to speak at the symposium. The benchmark FTSE 100 was up 13 points, or 0.2 percent, at 8,301 after ending flat with a positive bias on Thursday.
In corporate news, Unilever was marginally higher after recalling 137000 cases of its single-serve Popsicle Jolly Rancher Frozen Confection Pop products over concerns that they may contain milk.
Energy giant BP Plc rose 0.7 percent and Shell edged up 0.2 percent as oil extended overnight gains but remained on track for a weekly loss on U.S. and Chinese demand concerns.
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Dollar Drifts Lower Against Major Counterparts
The U.S. Dollar shed ground against its major counterparts on bets the Federal Reserve will cut interest rates in the first quarter.
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TSX Ends On Firm Note Again, Gains 1.1% In Week
The Canadian market closed on a firm note on Friday, lifted by gains in real estate, communications and technology stocks.
The benchmark S&P/TSX Composite Index ended the session with a gain of 175.51 points or 0.7% at 25,073.54. The index gained 1.12% in the holiday-shortened week.
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Canadian Market Remains Positive, Looks On Course For Another Firm Close
The Canadian market looks set to end on a firm note for the third consecutive session, with stocks from communications, real estate and industrial sectors recording strong gains.
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Swiss Market Ends Modestly Higher
After a positive start, Swiss stocks retreated and moved along the flat line right till the end of the day's trading session on Friday, as investors, returning to the market after New Year holidays, refrained from making significant moves.
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European Stocks Close Weak After Cautious Session
European stocks closed weak on Friday, retreating after scoring strong gains on the first session of Year 2024. Losses in automobile, luxury and travel sectors weighed on the markets on a day when investors largely stayed cautious, looking for directional clues.
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Australian Dollar Drops Against Most Majors
The Australian dollar fell against its most major counterparts in the New York session on Friday.
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Canadian Dollar Falls Against Majors
The Canadian dollar weakened against its major counterparts in the New York session on Friday.
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U.S. Manufacturing Index Indicates Modestly Slower Contraction In December
Manufacturing activity in the U.S. contracted at a slower rate in the month of December, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI inched up to 49.3 in December from 48.4 in November, although a reading below 50 still indicates contraction. Economists had expected the index to come in unchanged.
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