FTSE 100 Drifts Lower As Chancellor Jeremy Hunt Promises Tax Cuts
(RTTNews) - U.K. stocks traded lower on Friday as chancellor Jeremy Hunt delivers a speech on the state of the economy ahead of the general election.
The chancellor promised further tax cuts if the Conservatives win the general election, and has accused his shadow, Labour's Rachel Reeves, of plotting hikes to fund the opposition party's spending pledges.
The benchmark FTSE 100 was down 26 points, or 0.3 percent, at 8,412 after finishing marginally lower on Thursday.
In corporate news, property development firm Land Securities fell 2.3 percent after annual earnings from rental income dropped to £371 million from £393 million in 2023.
Consumer goods giant Unilever rose half a percent after launching its €1.5bn share buyback program.
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TSX Ends Flat After Cautious Session
After an early setback, the Canadian market recovered gradually in cautious trade on Friday and eventually ended the day's session with a slender gain.
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5h 9min ago
Dollar Pares Early Gains, Turns In Mixed Performance
The U.S. dollar gained some ground against its major counterparts on Friday, as bond yields moved higher, and stocks eased amid rising tensions in the Middle East. However, prospects of more reductions in interest rate in coming months limited the greenback's upside.
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5h 35min ago
Swiss Market Ends Notably Lower
The Switzerland market opened weak Friday morning and kept drifting lower and lower as the day progressed and eventually closed on with a more than 1% loss.
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8h 54min ago
European Stocks Close Notably Lower
European stocks closed weak on Friday as the euphoria over the Federal Reserve's jumbo interest-rate cut faded a bit, and investors shifted their focus to the latest economic data and the developments on the geopolitical front.
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9h 16min ago
U.S. Dollar Climbs Amid Risk Aversion
The U.S. dollar advanced against its major counterparts in the New York session on Friday, amid higher treasury yields and a pullback in U.S. stocks.
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9h 34min ago
Canadian Market Modestly Lower In Cautious Trade
Canadian stocks slipped after a weak start Friday morning as the euphoria over a jumbo interest rate cut by the Federal Reserve subsided a bit. Industrials, energy and consumer discretionary stocks are among the major losers.
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10h 8min ago
Bay Street Seen Opening On Mixed Note
Canadian shares are likely to open on a mixed note Friday morning with investors reacting to the latest batch of Canadian economic data, and tracking commodity prices.
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14h 16min ago
Disney To Stop Using Salesforce's Slack After Data Breach
Walt Disney Co. said it will no longer use Slack, owned by Salesforce, Inc., for in-house company communication after a data breach leaked company data to the public, reports said citing a company memo. Disney Chief Financial Officer Hugh Johnston stated that most of Disney's business units will move away from Slack usage by the end of next fiscal quarter.
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14h 50min ago
