FTSE 100 Rises As Burberry Announces New Turnaround Plan
(RTTNews) - U.K. stocks eked out modest gains Thursday on the back of upbeat earnings news. The benchmark FTSE 100 was up 12 points, or 0.2 percent, at 8,042 after finishing marginally higher on Wednesday.
Burberry shares jumped nearly 15 percent after new CEO of the fashion brand, Joshua Schulman, pledged to "stabilize the business" with a turnaround plan.
Insurer Aviva surged 4 percent after a strong Q3 update, showing continued growth across various business lines.
Premier Foods added 1.6 percent after reporting higher first-half revenues and profits as consumers switched back to brands.
Vodafone was marginally higher as it increased the budget for its ongoing share buyback program by EUR 20 million, to a total of EUR 520 million.
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TSX Closes At New Record High
The Canadian market closed modestly higher on Friday, lifted by gains in industrials and energy stocks. Positive reaction to the nation's retails data and the recent announcement of a mini stimulus package contributed to the upside.
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Swiss Stocks Close On Strong Note
Swiss stocks closed on a bright note on Friday, in line with markets across Europe, as weak manufacturing and services sector data from major European countries such as the U.K., Germany and France raised hopes that central banks will cut interest rates further to help revive growth.
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European Stocks Close On Firm Note On Optimism About More Interest Rate Cuts
European stocks closed on a firm note on Friday as some weak economic data raised expectations that the central banks will reduce interest rates further to boost growth.
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Canadian Market Modestly Higher In Cautious Trade
The Canadian market is modestly higher a little past noon on Friday with stocks turning in a mixed performance in cautious trade. Investors are digesting the latest economic data from Canada and the U.S., while continuing to follow the developments on the geopolitical front.
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Swiss Franc Declines Against Majors
The Swiss franc dropped against its major counterparts in the New York session on Friday.
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U.S. Consumer Sentiment Improves Less Than Previously Estimated In November
Consumer sentiment in the U.S. improved less than previously estimated in the month of November, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for November was downwardly revised to 71.8 from the preliminary reading of 73.0.
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Bay Street Seen Opening Higher
The Canadian market may open higher on Friday, with materials shares finding some support on firm metal prices. Investors will also be reacting to Canadian retails sales data and U.S. producer prices report.
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Regulator CFPB To Consider Apple Pay, Other Digital Payment Apps As Banks
The US Consumer Financial Protection Bureau or CFPB has finalized a rule to supervise Apple Inc. and other major technology firms that offer digital funds transfer and payment wallet apps, and treat them more like banks. In a statement, the US consumer watchdog said the rule on federal oversight of popular digital payment apps by the largest non-bank companies is aimed to protect personal data...
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