Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Indexes  >  World (autre bourse)  >  FTSE 100    F100   GB0001383545

FTSE 100 (F100)
Mes dernières consult.
Most popular
News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : FTSE 100 Closes At 6-week Low As Retailers Fall, Pound Rises

share with twitter share with LinkedIn share with facebook
share via e-mail
11/10/2017 | 06:54pm CET

By Carla Mozee, MarketWatch

Pound crosses above $1.32

U.K. stocks dropped Friday, with retailers and energy producers among those that lost ground, sending the London gauge of blue-chip stocks to its lowest close since late September.

Equities also felt the weight of a rising pound.

What markets are doing: The FTSE 100 index slumped 0.7% to 7,432.99, the lowest close since Sept. 29, FactSet data showed. No sector managed a gain, while the health care and telecom sectors printed the biggest losses. On Thursday, the benchmark fell 0.6% .

For the week, the London benchmark fell 1.7%, the biggest such decline since mid-September. The index on Nov. 6 was driven up to a record close.

This week "there's been a dry-as-bones economic calendar and that's given investors a moment to pause, look at where the markets and reassess...maybe they shouldn't be quite as high as they are," said Connor Campbell, financial analyst at Spreadex, in an interview.

"Last week with the Bank of England, the Federal Reserve, nonfarm [payrolls], it was almost pure reaction and now this week investors have had time to reflect and that's not necessarily a good thing for the market," he said.

The pound late Friday traded at $1.3203, up from $1.3137 late Thursday in New York.

The yield on the 10-year gilt rose 7 basis points to 1.34%.

Also check out:Is British leader Theresa May on her way out? Why that's the fear--and why it matters

Retail pain continues: A tough week for retail stocks continued Friday, after the release of research that showed British consumer spending is slowing.

Burberry (>> Burberry Group) (>> Burberry Group) fell 2.3%, with UBS downgrading its shares to neutral from buy. The stock on Thursday tumbled 10% after the British luxury goods retailer warned it doesn't expect sales growth until fiscal 2021 .

Marks & Spencer Group (>> Marks & Spencer Group) slumped 1.9% on Friday, leaving its shares down 2.8% for the week. Next PLC (>> Next) turned higher to close up 0.2%, but they ended the week down 2.1%.

What's moving markets: U.K. industrial and manufacturing figures came in stronger than anticipated, giving a boost to the pound against the U.S. dollar. Industrial output expanded by 2.5% in September year-over-year, said the Office for National Statistics, above expectations of 1.8%.

That propelled the pound to rise as high as $1.3230, the highest since Nov. 1. But sterling strength can hurt shares of multinational companies on the FTSE 100, as earnings made overseas by those companies can be squeezed when converted back into U.K. currency.

"Next week is busy in terms of data for the pound, with inflation and retail sales," said Campbell. He said economic figures over the past couple of months have been assessed in terms of if the Bank of England would decide to raise interest rates. The bank did lift the key rate to 0.5% from 0.25%.

"The Bank of England has [now] made it clear there's not going to be a rate hike anytime soon, so it will be interesting to see what the pound does," on next week's data, he said.

Concerns about a possible delay to tax cuts in the U.S . lingered. Those worries helped push equity markets in the U.K., in Europe and in Asia lower Friday, following a selloff in the U.S. on Thursday. The prospect of lower taxes and other stimulus put forward by the Trump administration has at times bolstered equity markets over the past year.

Stock movers: Among multinational companies, drugmakers GlaxoSmithKline (>> GlaxoSmithKline) (>> GlaxoSmithKline) and AstraZeneca PLC (>> AstraZeneca) fell 2.1% and 1.9%, respectively, and cruise operator Carnival PLC (>> Carnival) gave up 1.7%.

Shares of oil producer BP PLC (>> BP) (>> BP) and Royal Dutch Shell PLC (>> Royal Dutch Shell Plc) (>> Royal Dutch Shell Plc) fell 1.5% and 1.3%, respectively, as oil prices pulled back from two-year highs.

Retail distribution group Bunzl PLC (BZLFY) dropped 6.5% after Morgan Stanley outlined risk from Amazon.com Inc.'s (>> Amazon.com) business-to-business distribution plan.

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FTSE 100
06:12p EUROPE MARKETS : European Stocks Edge Up As Chinese Data, Chip Makers Cheers Tra..
06:09p LONDON MARKETS : FTSE 100 Suffers 4th Straight Loss As Pound Rises, Primark Owne..
02:51p IMPERIAL BRANDS : Doesn't Expect Material Benefit From U.S. Tax Reform
12:26p WHITBREAD : leaves break-up of business on the table
12:15p EUROPE MARKETS : European Stocks Edge Up As Chinese Data Cheers Traders
10:30a LONDON MARKETS : FTSE 100 Faces 4th Loss As Pound Rises, Primark-owner Falls
01/17 Rolls-Royce shares jump as commercial marine business goes on block
01/17 Rolls-Royce shares jump as commercial marine business goes on block
01/17 EUROPE MARKETS : European Stocks Close With Losses, Weighed Down By Dives For Bu..
More news
News of the components of FTSE 100
07:24p DIAGEO : Can fans of gay former bourbon ambassador go back to drinking family bo..
07:22p INSIDER TRADING ACTIVITY CARNIVAL PL : CUK) – Director Sold 3,840 shares o..
07:22p INSIDER TRADING ACTIVITY CARNIVAL PL : CUK) – CFO Sold 2,600 shares of Sto..
07:11p GKN : Melrose says rising shares show the value of its GKN bid
06:44p European shares edge higher as cyclicals back in favour
06:42p HSBC : Cloudscraper announces previous Global Head of Real Estate Finance at HSB..
06:17p FTSE led lower by AB Foods and utilities
More news
Technical analysis trends FTSE 100
Short TermMid-TermLong Term
Top / Flop FTSE 100
HARGREAVES LANSDOWN 1919.5 Delayed Quote.4.32%
WHITBREAD 3988 Delayed Quote.3.45%
ROYAL DUTCH SHELL 28.703 Real-time Quote.3.34%
COCA COLA HBC AG 2412 Delayed Quote.2.20%
NMC HEALTH 3198 Delayed Quote.1.46%
BURBERRY GROUP 1588.5 Delayed Quote.-1.88%
MEDICLINIC INTERNATIONAL 606.2 Delayed Quote.-2.07%
RANDGOLD RESOURCES 7076 Delayed Quote.-2.18%
ASSOCIATED BRITISH FOODS 2755 Delayed Quote.-3.57%
MERLIN ENTERTAINMENTS 347 Delayed Quote.-3.93%
Heatmap :