FTSE 100 Slips Ahead Of Fed, BoE Meetings

RTTNews | 1453 days ago
FTSE 100 Slips Ahead Of Fed, BoE Meetings

(RTTNews) - U.K. stocks fell in cautious trade on Monday, as investors braced for a 75-100 bps rate hike by the U.S. Federal Reserve at the end of a two-day policy meeting on Wednesday.

Also, the Bank of England meets on Thursday, with markets split on whether the central bank will raise rates by 50 or 75 basis points ahead of a mini budget to be unveiled by the new Chancellor of the Exchequer Kwasi Kwarteng on Friday. The BoE meeting is delayed by a week after the death of Queen Elizabeth II.

The benchmark FTSE 100 dropped 45 points, or 0.6 percent, to 7,236 after closing 0.6 percent lower on Friday.

City of London Investment Trust shares fell around 1 percent. The company reported that its fiscal 2022 net return before taxation declined to 100.47 million pounds from last year's 267.16 million pounds.

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Indian Shares Tumble Amid Geopolitical Concerns

Indian Shares Tumble Amid Geopolitical Concerns

Indian shares were sharply lower in early trade on Friday as crude oil prices soared amid escalating tensions in West Asia, raising worries about India's import bill, inflation and earnings.
RTTNews | 4h 36min ago
Australian Market Extends Early Strong Losses In Mid-market

Australian Market Extends Early Strong Losses In Mid-market

The Australian stock market is extending its early strong losses in mid-market moves on Friday, adding to the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,700 level, with weakness in mining and technology stocks partially offset by gains in financial and energy stocks.
RTTNews | 5h 42min ago
Asian Markets Sink Amid Inflationary Risks

Asian Markets Sink Amid Inflationary Risks

Asian markets are mostly lower on Friday, following the negative cues from Wall Street overnight, as crude oil soars past $100 a barrel for the first time since May amid concerns of a prolonged war between the U.S. and Iran. Surging crude oil prices and treasury yields have added to concerns about inflation risks and the outlook for interest rates ahead of the US Fed's monetary policy meeting.
RTTNews | 6h 0min ago
Losing Streak May Continue For Thai Stock Market

Losing Streak May Continue For Thai Stock Market

The Thai stock market has moved lower in back-to-back sessions, sinking more than 5 points or 0.3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,615-point plateau and it's tipped to open under water again on Friday.
RTTNews | 7h 9min ago
Japanese Market Sharply Lower

Japanese Market Sharply Lower

The Japanese market is trading sharply lower on Friday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 63,550 level, with weakness in index heavyweights, exporters and technology stocks partially offset by gains in automakers.
RTTNews | 7h 32min ago