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

4-Traders Homepage  >  Indexes  >  FTSE 100 Index    F100   GB0001383545

News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : Retailers Help Drive FTSE 100 Toward Biggest Weekly Fall In 2 Months

share with twitter share with LinkedIn share with facebook
share via e-mail
11/10/2017 | 10:52am CEST

By Carla Mozee, MarketWatch

Concerns over U.S. tax plan continue to weigh

U.K. stocks slipped Friday, with retailers among those losing ground, as the London gauge of blue-chip stocks moved toward its biggest weekly fall in nearly two months.

What markets are doing: The FTSE 100 index was down 0.1% at 7,478.83, with utilities, industrials, consumer goods and financial sectors on the decline. But the basic materials, technology, and oil and gas groups were rising. On Thursday, the benchmark fell 0.6% .

For the week, the London benchmark was on track for a 1% loss. That would be the biggest weekly decline since mid-September, according to FactSet data.

The pound traded at $1.3140, little changed from $1.3137 late Thursday in New York. Against the euro , sterling bought EUR1.1292, slightly higher than EUR1.1284.

The yield on the 10-year gilt rose 4 basis points to 1.30%.

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

Burberry Group PLC shares (>> Burberry Group) (>> Burberry Group) lost 3%. That drop adds to Thursday's tumble of 10% for the luxury goods maker after it warned that it doesn't expect sales growth until fiscal 2021 . The company also said it will close stores as it sharpens its focus on the high-end market.

Shares of retailer Next PLC (>> Next) and Marks & Spencer Group (>> Marks & Spencer Group) were down 0.9% and 1.2%, respectively. DIY retailer Kingfisher PLC (>> Kingfisher) was off 0.3%.

Kingfisher and M&S shares were looking at weekly losses of more 2% each, and Next was in line for a fall of more than 3%.

What strategists are saying: "The FTSE has struggled in the last couple of days, with a volatile commodity sector and a flagging set of retail stocks dragging the UK index back below 7,500," said Connor Campbell, financial analyst at Spreadex.

What's moving markets: Concerns about a possible delay to tax cuts in the U.S. lingered. Those worries helped push equity markets in Asia lower Friday, following a selloff in the U.S. on Thursday.

The Senate Finance Committee on Thursday released its version of a tax plan that would defer implementing a cut in corporate tax to 20% until 2019, diverging from the House Republicans' plan to introduce that rate next year. But jitters abated somewhat after the Republicans' bill was moved to a vote in the House , possibly next week.

The prospect of lower taxes and other stimulus put forward by the Trump administration has bolstered equity markets over the past year.

Stock movers: Mining shares were mostly higher Friday, with Glencore PLC (>> Glencore) and Rio Tinto PLC (>> Rio Tinto plc) (>> Rio Tinto plc) (>> Rio Tinto plc) up by 0.7% each. But Randgold Resources Ltd. (>> Randgold Resources)(>> Randgold Resources) was off 0.4%

Economic reports: A reading on U.K. industrial production in September is due at 9:30 a.m. London time, or 5:30 a.m. Eastern Time. A reading of 1.8% year-over-year is expected by analysts surveyed by FactSet.

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FTSE 100 INDEX
03:20pM&S Partners With Microsoft in Bid to Become a Digital-First Retailer
02:23pLONDON MARKETS: FTSE 100 Drops As Oil Shares Extend Losses; Pound Rallies On ..
02:11pLONDON STOCK EXCHANGE : FTSE falls after BoE hawkish vote
01:41pEUROPE MARKETS: Auto Makers, Italian Stocks Lead European Shares Lower
10:20aLEGAL & GENERAL : L&G aims for 8-10 percent profit growth from fund business
06/20LONDON STOCK EXCHANGE : Easing trade worries help FTSE climb while Berkeley tumb..
06/20EUROPE MARKETS: European Stocks Stage Recovery, But U.S.-China Trade Tensions..
06/20LONDON MARKETS: FTSE 100 Ends Higher, Rising From 6-week Low As Ocado, Tobacc..
06/19EUROPE MARKETS: European Stocks Finish At 3-week Low As U.S.-China Trade Tens..
06/19LONDON MARKETS: FTSE 100 Logs 3rd Straight Drop As U.S.-China Trade Fight Int..
More news
News of the components of FTSE 100 INDEX
05:36pWPP : Martin Sorrell criticises WPP over its handling of his forced departure
05:27pROYAL DUTCH SHELL PLC : - Director/PDMR Shareholding
05:24pHK firms fail to walk the walk on technology
05:14pROYAL DUTCH SHELL PLC : - Director/PDMR Shareholding
05:08pBARCLAYS : Form 8.5 (ept/non-ri) - sky plc - amendment
05:03pEASYJET : celebrates new German domestic route between Berlin-Tegel and Cologne/..
05:01pHSBC : Jade Launches Concierge Service with Innovative Digital Platform to High-..
More news
Chart FTSE 100 INDEX
Duration : Period :
FTSE 100 Index Technical Analysis Chart | F100 | GB0001383545 | 4-Traders
Technical analysis trends FTSE 100 INDEX
Short TermMid-TermLong Term
Top / Flop FTSE 100 INDEX
SHIRE 4092.25 Real-time Quote.2.05%
SKY 1404.75 Real-time Quote.1.79%
BRITISH AMERICAN TOBACCO 3834 Delayed Quote.1.46%
NEXT 5934 Real-time Quote.1.23%
SMITH & NEPHEW 1384.25 Real-time Quote.0.60%
UNITED UTILITIES 740.1 Real-time Quote.-2.79%
BERKELEY 3781 Delayed Quote.-2.88%
PERSIMMON 2533.5 Real-time Quote.-2.93%
TAYLOR WIMPEY 177.95 Real-time Quote.-3.10%
BARRATT DEVELOPMENTS 518 Delayed Quote.-3.72%
Heatmap :