FTSE 100 Modestly Higher Ahead Of Budget
(RTTNews) - U.K. stocks were seeing modest gains in cautious trade on Tuesday ahead of the budget announcement due on Wednesday.
Analysts expect the Autumn Budget to introduce key fiscal reforms, including tax changes and wage adjustments that could significantly impact the industry landscape.
The benchmark FTSE 100 was up 27 points, or 0.3 percent, at 8,312 after rising half a percent on Monday.
HSBC shares surged more than 4 percent after the Asia-focused bank reported stronger-than-expected third-quarter earnings and announced a hefty $3 billion buyback.
Energy giant BP Plc dropped 1 percent as it reported lower profit and cash flow from a year ago, weighed down by a drop in refining profits and weaker oil trading.
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U.S. Dollar Moves To The Upside After Early Volatility
After seeing considerable volatility earlier in the day, the value of the U.S. dollar has moved higher over the course of trading on Friday.
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Swiss Stock Market Extends Win Streak To Four Sessions
The Swiss stick market was in the green from start to finish on Friday, rising optimism over the outlook for interest rates and extending recent gains.
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Swiss Franc Drops Against Most Majors
The Swiss franc fell against its most major counterparts in the New York session on Friday.
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Rate Cut Hopes Boost European Stock Markets
Optimism over interest rate cuts had traders in a happy mood on Friday as the major European stock markets finished solidly to the upside, extending recent gains.
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Japanese Yen Declines Against Majors
The Japanese yen weakened against its major counterparts in the New York session on Friday.
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U.S. Industrial Production Jumps In December As Utilities, Mining Output Surges
Industrial production in the U.S. increased by much more than expected in the month of December, according to a report released by the Federal Reserve on Friday. The Fed said industrial production jumped by 0.9 percent in December after rising by a revised 0.2 percent in November.
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U.S. Housing Starts Skyrocket To Ten-Month High In December
A report released by the Commerce Department on Friday showed new residential construction in the U.S. surged by much more than anticipated in the month of December. The Commerce Department said housing starts soared by 15.8 percent to an annual rate of 1.499 million in December after tumbling by 3.7 percent to a revised rate of 1.294 million in November.
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U.S. Industrial Production Jumps Much More Than Expected In December
Industrial production in the U.S. increased by much more than expected in the month of December, according to a report released by the Federal Reserve on Friday.
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