Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2024 11 11T121102Z 1 LYNXMPEKAA0EM RTROPTP 4 LSEG OUTLOOK
2024 11 11T121102Z 1 LYNXMPEKAA0EM RTROPTP 4 LSEG OUTLOOK

UK stocks rebound as investors await key data


By Sruthi Shankar and Nikhil Sharma

(Reuters) -Britain’s main stock indexes rose on Monday, joining a broad rally in European markets, as investors awaited key economic data this week for clues on the path of U.S. and British monetary policy.

The blue-chip FTSE 100 rebounded 0.7% from a three-month low touched in the prior session and ended its four-day streak of losses. The midcap FTSE 250 index climbed 1%.

Across the Atlantic, Wall Street traders extended last week’s stock rally fuelled by Donald Trump’s re-election as U.S. president. [.N]

British stocks have been choppy since last week, when Trump’s election victory raised concerns about a potential trade war hurting European economic growth. Underwhelming stimulus steps from China also hurt commodity prices, in turn weighing on mining stocks.

The FTSE 350 mining sector came under fresh pressure on Monday, down 1.8%, as most base metals slipped due to top consumer China’s latest stimulus package falling short of investors’ expectations.

The precious metals and mining sector slid 5.2% as gold prices fell due to stronger dollar as markets expect the Federal Reserve to adopt a cautious approach to policy easing under Trump’s administration. [GOL/]

Investors are awaiting U.S. inflation data as well as British labour market data and September GDP data later this week for hints on how far and fast the Fed and the Bank of England will cut rates this year and next.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Croda rose 5.2%, leading gainers among the FTSE 100 components, after the chemical group posted a 5% growth in third-quarter group sales. It boosted the chemicals sector, up 3.4%.

NatWest gained 3.7% after the bank said it bought back 1 billion pounds ($1.29 billion) worth of its own shares from Britain’s government.

Kainos Group jumped 6.2%, among top gainers in the midcap index, after the IT software provider reported a 1% rise in half-year adjusted pre-tax profit to 38.2 million pounds ($49.2 mln).

Aquis Exchange Plc soared 113% after Swiss stock exchange operator SIX Group said it had agreed to buy the UK-based financial markets service provider in a cash offer that values the business at 207 million pounds ($266.91 million).

(Reporting by Sruthi Shankar and Nikhil Sharma in Bengaluru; Editing by Vijay Kishore and Alex Richardson)

 

Recent Post: