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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U.S. Dollar Ticks Lower As Investors Monitor Developments In Middle East
The U.S. Dollar value posted incremental losses on Friday as markets focused on the U.S. call to Iran for discussions to avert a planned intense attack by the U.S. on Iran after November mid-term elections. Iran has not responded until now.
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TSX Drops Nearly 2.5%; Materials, Tech Stocks Down Sharply
Canadian stocks are down sharply on Friday amid renewed fears about inflation and interest rates following oil prices climbing higher amid supply concerns after a tanker attack in the Strait of Hormuz.
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Swiss Market Ends Modestly Higher
The Switzerland market's benchmark SMI ended modestly higher on Friday after holding firm throughout the trading session, outperforming most of its peers in Europe.
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Major European Markets End Mixed As Investors React To Earnings, Economic Data
The major European markets closed mixed on Friday even as most of the other markets across the continent ended notably lower, as investors reacted to a slew of corporate earnings announcements and the latest batch of regional economic data.
Higher oil prices and weakness in the tech sector due to renewed uncertainty about returns on AI-related investments hurt sentiment.
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Chicago Business Barometer Pulls Back But Still Indicates Growth In October
Growth in Chicago-area business activity slowed moderately in the month of October, according to a report released by MNI Indicators on Friday. The report said the Chicago business barometer fell to 55.3 in October after spiking to 58.8 in September, although a reading above 50 still indicates growth. Economists had expected the business barometer to pull back to 56.0.
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Colgate-Palmolive Q3 Results Rise, Lifts FY26 Base Business EPS View; Stock Gains
Consumer products major Colgate-Palmolive Co., while reporting higher third-quarter results, on Friday confirmed fiscal 2026 outlook for earnings per share. Further, the firm raised guidance for Base Business earnings per share and gross profit margin, while narrowing sales growth view. In pre-market activity on the NYSE, the shares were gaining around 3.34 percent
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Bay Street Likely To Open Notably Lower
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UK Nationwide House Price Growth Softest Since 2024
UK house prices grew at the slowest pace since the start of 2024 as rising interest rate expectations weighed on the property market in October, data published by Nationwide Building Society showed Friday. House prices grew only 0.5 percent in October from the previous year. This was weaker than the 0.8 percent rise in September and economists' forecast of 0.6 percent.
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