FTSE 100 Gains As Inflation Hits Three-year Low

RTTNews | 9h 7phút trước
FTSE 100 Gains As Inflation Hits Three-year Low

(RTTNews) - U.K. stocks advanced on Wednesday after official data showed U.K. inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting.

Consumer price inflation weakened more-than-expected to 1.7 percent in September from 2.2 percent in August, the Office for National Statistics reported.

This was the lowest since April 2021. Prices were forecast to climb 1.9 percent. The benchmark FTSE 100 was up 48 points, or 0.6 percent, at 8,296 after declining half a percent on Tuesday.

British American Tobacco rose about half a percent after saying it remains on track to deliver low-single digit organic revenue and adjusted profit from operations growth in fiscal year 2024.

Primary Health Properties rose over 2 percent. The healthcare facilities investor reported an additional £2.7m in rental income in a third quarter update.

Antofagasta jumped more than 3 percent. The Chilean miner reported a 15 percent rise in third-quarter copper output.

Property developer Hammerson rallied 2.3 percent after launching a £140m share buyback program.

read more
U.S. Import Prices Decrease 0.4% In September, In Line With Estimates

U.S. Import Prices Decrease 0.4% In September, In Line With Estimates

Reflecting a sharp drop by prices for fuel imports, the Labor Department released a report on Wednesday showing a continued decrease by prices for U.S. imports in the month of September. The Labor Department said import prices fell by 0.4 percent in September after slipping by a revised 0.2 percent in August. The decline matched economist estimates.
RTTNews | 4h 48phút trước
Walgreens To Close 1,200 US Stores

Walgreens To Close 1,200 US Stores

Walgreens announced its plan to close around 1,200 U.S stores over the next three years, including around 500 closures in fiscal 2025, as the drug store chain is facing a challenging U.S. retail environment amid increasing competition. The move, which was announced while reporting a significantly wider net loss in its fourth quarter, is expected to be immediately accretive to adjusted earnings...
RTTNews | 5h 29phút trước
Bank Of Thailand Trims Rate Unexpectedly

Bank Of Thailand Trims Rate Unexpectedly

The Bank of Thailand unexpectedly lowered its policy interest rate for the first time in more than four years, as inflation is projected to return towards the target range by the end of this year. The Monetary Policy Committee voted 5-2 to cut the policy rate by 25 basis points to 2.25 percent. Two committee members sought to maintain the rate at 2.50 percent.
RTTNews | 5h 55phút trước
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares are likely to open on a mixed note Wednesday morning, tracking commodity prices. The focus will also be on some key earnings updates from major U.S. companies. Optimism about more interest rate cuts by central banks, including the Federal Reserve and the Bank of Canada may help underpin sentiment.
RTTNews | 6h 5phút trước
Sensex, Nifty End Modestly Lower On Weak Global Cues

Sensex, Nifty End Modestly Lower On Weak Global Cues

Indian shares closed lower on Wednesday, with continued foreign fund outflows, reduced bets on larger Fed rate cuts and disappointing earnings updates from the likes of LVMH and ASML Holding weighing on markets.
RTTNews | 7h 58phút trước
Pound Slides As U.K. Inflation Hits Three-year Low

Pound Slides As U.K. Inflation Hits Three-year Low

The British pound weakened against other major currencies in the European session on Wednesday, after U.K. inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting.
RTTNews | 8h 23phút trước
European Shares Mostly Lower As Earnings Disappoint

European Shares Mostly Lower As Earnings Disappoint

European stocks were broadly lower on Wednesday as investors digested a slew of disappointing earnings updates and awaited a European Central Bank policy meeting on Thursday for directional cues.
RTTNews | 8h 48phút trước