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FTSE 100 Tumbles Ahead Of BoE Rate Decision
(RTTNews) - U.K. stocks fell sharply on Thursday ahead of the Bank of England rate announcement due at noon. Analysts expect another 25-bps rate hike coupled with cautious commentary around the economy.
The benchmark FTSE 100 was down 141 points, or 1.9 percent, at 7,132 after closing 1.2 percent higher on Wednesday.
Fashion retailer ASOS plunged 27 percent and rival Boohoo slumped 18 percent after both reported slowing sales.
CRH, a building materials business, fell 2.6 percent after it has entered into arrangements with UBS A.G., London Branch to repurchase shares on CRH's behalf for up to $300 million.
BHP shares fell over 2 percent. The miner announced it will retain New South Wales Energy Coal in its portfolio.
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Energy, Materials Stocks Lift Canadian Market; BoC Holds Rates
Canadian stocks are up in positive territory Wednesday morning, led by gains in energy, communications and materials sectors. Stocks from real estate and utilities sections are also doing well.
Renewed worries about trade tensions weigh on sentiment, but higher commodity prices prompt investors to pick up resources stocks. Investors are also digesting the Bank of Canada's interest rate decision.
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55 minutes ago
U.S. Business Inventories Rise In Line With Estimates In February
A report released by the Commerce Department on Wednesday showed business inventories in the U.S. increased in line with economist estimates in the month of February. The Commerce Department said business inventories rose by 0.2 percent in February after climbing by 0.3 percent in January.
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1h 53min ago
U.S. Homebuilder Confidence Unexpectedly Inches Higher In April
The National Association of Home Builders released a report on Wednesday unexpectedly showing a slight improvement by U.S. homebuilder confidence in the month of April. The report said the NAHB/Wells Fargo Housing Market Index inched up to 40 in April after falling to 39 in March. Economists had expected the index to dip to 37.
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2h 4min ago
U.S. Industrial Production Falls 0.3% In March As Utilities Output Plummets
Reflecting a steep drop by utilities output, the Federal Reserve released a report on Wednesday showing U.S. industrial production decreased by slightly more than expected in the month of March. The Fed said industrial production fell by 0.3 percent in March after climbing by an upwardly revised 0.8 percent in February.
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2h 17min ago
Nvidia Sees $5.5 Bln Charge As US Restricts Chip Sales To China; Shares Down
Shares of Nvidia Corp. were losing around 6 percent in early morning trade on Wednesday on the Nasdaq, after the artificial intelligence chipmaker said that it would take $5.5 billion in charges after the U.S. government barred exports of its H20 AI chip to China, a key market.
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2h 29min ago
Bank Of Canada Leaves Interest Rates Unchanged Amid Tariff Uncertainty
Following a series of interest rate cuts over the past several months, the Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged. The Bank of Canada said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
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2h 35min ago
U.S. Industrial Production Falls Slightly More Than Expected In March
Reflecting a steep drop by utilities output, the Federal Reserve released a report on Wednesday showing U.S. industrial production decreased by slightly more than expected in the month of March.
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2h 59min ago
U.S. Retail Sales Surge 1.4% In March As Auto Sales Spike
Retail sales in the U.S. saw a sharp increase in the month of March, according to a report released by the Commerce Department on Wednesday. The Commerce Department said retail sales shot up by 1.4 percent in March after inching up by 0.2 percent in February. Economists had expected retail sales to jump by 1.3 percent.
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3h 4min ago
