MetiNews.Com Markets open Thursday sharply down as investor eye Bank of England comment Breaking news
MetiNews.Com - UK shares tracked declines on Asian stock markets in early trade on Thursday as the lack of new stimulus measures by the US Federal Reserve left investors disappointed ahead of a Bank of England policy meeting.
Breaking News ! UK shares tracked declines on Asian stock markets in early trade on Thursday as the lack of new stimulus measures by the US Federal Reserve left investors disappointed ahead of a Bank of England policy meeting. The benchmark FTSE 100 and the mid-cap FTSE 250 were both sharply lower in opening deals with banks, miners and automakers leading the declines. The FTSE 100 was off by around 0.89% early on at 6,027.34, while the FTSE 250 fell 0.7% to 17,677.61. Attention remains firmly fixed on a Bank of England meeting later today, where the central bank is expected to signal yet more stimulus as the economy heads for a jump in unemployment and a possible Brexit shock.
Oil prices fell, after rising in the two previous sessions, as concerns about weak fuel demand re-emerged after production platforms in the south-eastern US took steps to resume output following Hurricane Sally's passage.
LOCKDOWN HURTS PLAYETCH
In company news, gambling software maker Playtech (PTEC) crashed 7% to 362.85p after it posted a lower first-half profit on Thursday, hit by betting shop closures and sports events cancellations due to coronavirus-led curbs.
British clothing retailer Next (NXT) was among the leading blue-chip winners, up 2% to £63 after it raised its profit outlook for the second time in two months as it reported strong recent trading.
Online trading platform IG Group (IGG) reported a surge in first-quarter revenue as the coronavirus crisis and fears of its impact on the global economy continued to drive up volatility and trading volumes on financial markets.
IG shares rallied nearly 7% to 844.5p, heading the mid-caps leader board.
Source = MetiNews.Com