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FTSE 100 Subdued As Pound Rises On Bets Of Aggressive Fed Rate Cut

RTTNews | 34 days ago

FTSE 100 Subdued As Pound Rises On Bets Of Aggressive Fed Rate Cut

(RTTNews) - U.K. stocks were marginally lower on Monday as a rising British pound weighed on export-oriented companies.

Investors also shifted focus to a slew of key central bank rate decisions this week, including the Bank of England's interest-rate announcement due on Thursday.

The benchmark FTSE 100 was down 3 points at 8,269 after gaining 0.4 percent on Friday.

The pound rose to its highest in more than a week and gold prices hovered near record levels as investors raised their bets of a more aggressive Federal Reserve rate cut on Wednesday.

In corporate news, insurer Phoenix Group Holdings tumbled 3.6 percent after dropping the sale process of its SunLife business.

Playtech jumped 8 percent. The gambling technology firm said it expects 2024 adjusted core profit to be slightly ahead of market expectations.

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Hong Kong Stock Market Tipped To Open In The Green

Hong Kong Stock Market Tipped To Open In The Green

The Hong Kong stock market on Friday halted the four-day losing streak in which it had stumbled almost 1,100 points or 5.2 percent. The Hang Seng Index now sits just above the 20,800-point plateau and it may see additional support on Monday.

RTTNews | 4h 3min ago

Australian Market Notably Higher

Australian Market Notably Higher

The Australian stock market is currently trading notably higher on Monday, reversing the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,300.00 level, with gains across most sectors led by gold miner stock and technology stocks.

RTTNews | 4h 5min ago

Continued Volatility Likely For China Stock Market

Continued Volatility Likely For China Stock Market

The China stock market has alternated between positive and negative finishes through the last eight trading days since the end of the 10-day winning streak in which it had skyrocketed more than 780 points or 27.9 percent. The Shanghai Composite now sits just beneath the 3,260-point plateau and it's expected to at least open to the upside again on Monday.

RTTNews | 4h 18min ago

Taiwan Stock Market May Extend Its Gains

Taiwan Stock Market May Extend Its Gains

The Taiwan stock market has climbed higher in two straight sessions, advancing more than 475 points or 2.1 percent along the way. The Taiwan Stock Exchange now rests just beneath the 23,490-point plateau and it's tipped to open in the green again on Monday.

RTTNews | 4h 48min ago

Win Streak May Continue For Singapore Stock Market

Win Streak May Continue For Singapore Stock Market

The Singapore stock market has finished higher in consecutive trading days, advancing almost 50 points or 1.4 percent along the way. The Straits Times Index now sits just above the 3,640-point plateau and it may add to its winnings on Monday.

RTTNews | 5h 18min ago

Malaysia Stock Market May See Additional Support On Monday

Malaysia Stock Market May See Additional Support On Monday

The Malaysia stock market has moved higher in back-to-back sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,645-point plateau and it may extend its gains on Monday.

RTTNews | 5h 48min ago

KOSPI Tipped To End Losing Streak On Monday

KOSPI Tipped To End Losing Streak On Monday

The South Korea stock market has moved lower in three straight sessions, shedding almost 40 points or 1.6 percent along the way. The KOSPI now sits just above the 2,590-point plateau although it may stop the bleeding on Monday,

RTTNews | 6h 18min ago

Malaysia GDP Data Due On Monday

Malaysia GDP Data Due On Monday

Malaysia will on Monday release preliminary Q3 numbers for gross domestic product, highlighting a light day for Asia-Pacific economic activity. In the previous three months, GDP was up 5.9 percent on year.

RTTNews | 7h 18min ago

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