FTSE 100 Edges Higher On Fed Rate Optimism

RTTNews | 854 days ago
Stocktwits
FTSE 100 Edges Higher On Fed Rate Optimism

(RTTNews) - U.K. stocks rose slightly on Thursday as Fed Chair Jerome Powell's dovish remarks on the pace of rate hikes offset disappointing house price data.

According to Nationwide, British house prices tumbled 1.4 percent in November compared with October, marking the biggest monthly drop since June 2020.

The benchmark FTSE 100 edged up 16 points, or 0.2 percent, to 7,589 after closing 0.8 percent higher on Wednesday.

Energy stocks fell as oil prices dipped amid uncertainty about OPEC's decision on production at the Sunday meeting. BP Plc dropped 1 percent and Shell lost 1.4 percent.

Lender HSBC declined 1.2 percent after it agreed to sell its business in Canada to Royal Bank of Canada.

Online grocer Ocado jumped almost 7 percent after launching a new supplier insights product to help drive sales and increase revenue.

Components maker Essentra rose over 2 percent after buying Wixroyd Group, a supplier of industrial parts for the engineering sector.

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China Services Activity Growth Accelerates

China Services Activity Growth Accelerates

China's service sector growth accelerated to a three month-high in March on rising business activity and new orders, survey data from S&P Global showed on Thursday. The Caixin services Purchasing Managers' Index logged 51.9 in March compared to 51.4 in February. The index has remained above the crucial 50.0 no-change mark for the twenty-seventh straight month.
RTTNews | 4h 4min ago
European Economic News Preview: Eurozone Final Composite PMI Data Due

European Economic News Preview: Eurozone Final Composite PMI Data Due

Final composite Purchasing Managers' survey results from the euro area and the UK are the top economic news due at Thursday. At 3.15 AM ET, S&P Global publishes Spain's services and composite PMI survey data. The services indicator is forecast to fall to 55.6 in March from 56.2 in the previous month. At 3.45 am ET, services and composite PMI data is due from Italy.
RTTNews | 4h 35min ago
Sensex, Nifty Open Lower; IT And Auto Stocks Drag

Sensex, Nifty Open Lower; IT And Auto Stocks Drag

Indian shares were slightly lower on Thursday after U.S. President Donald Trump announced 26 percent reciprocal tariff on India - half the rate India imposes on U.S. imports, leaving some room for negotiation.
RTTNews | 5h 48min ago
Asian Markets Trades Mostly Lower

Asian Markets Trades Mostly Lower

Asian stock markets are trading mostly lower on Thursday, despite the positive cues from Wall Street overnight, after US President Donald Trump announced steeper-than-expected tariffs on US trade partners, heightening concerns over a global trade war that could destabilize major economies. White House press secretary Karoline Leavitt indicated the new levies will be "effective immediately."
RTTNews | 6h 39min ago
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming its early losses in mid-market moves on Thursday, giving up the gains in the previous two sessions, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,900 level, with weakness across most sectors led by mining and technology stocks.
RTTNews | 7h 26min ago
Sensex, Nifty Likely To See Gap-down Open As Trade War Fears Mount

Sensex, Nifty Likely To See Gap-down Open As Trade War Fears Mount

Indian shares look set to open sharply lower on Thursday after U.S. President Donald Trump announced reciprocal tariffs affecting over 180 countries, including a 26 percent tariff on India - half the rate India imposes on U.S. imports, leaving some room for negotiation.
RTTNews | 7h 37min ago
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