Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. 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. .

Top Stories

UK’s FTSE 100 dips on miners, energy drag

2023 11 27T081905Z 1 LYNXMPEJAQ07Z RTROPTP 4 HEALTH CORONAVIRUS BRITAIN - Global Banking | Finance

UK’s FTSE 100 dips on miners, energy drag

By Shashwat Chauhan

(Reuters) -UK’s FTSE 100 slipped on Monday, as losses in heavyweight energy and mining stocks chipped away on the commodities-heavy index, while cautious investors braced for a barrage of economic data throughout this week.

The blue-chip FTSE 100 fell 0.1%, but the more domestically-focussed FTSE 250 midcap index added 0.2%.

Heavyweight energy stocks eased 1.0%, tracking a fall in crude oil prices and industrial metal miners lost 0.4%.

“What we’ve seen before the Thanksgiving weekend is a market which is now pricing in this narrative that we won’t see any more rate hikes and instead we’ll start to see rate cuts as soon as May of next year, and that led to a lot of risk on sentiment,” said Axel Rudolph, senior market analyst at IG Group.

“Usually after Thanksgiving, you tend to get some profit taking because the volumes were low, etc.”

The exporter-heavy FTSE 100 is on track for monthly gains as sentiment got a lift by hopes of a softer monetary policy globally heading into the next year, with expectations growing that perhaps interest rates have reached a peak.

Investors are now awaiting the UK mortgage data and the inflation prints across the eurozone and in the United States due later in the week.

Bucking the trend, precious metal miners added 1.6% as prices of most precious metals advanced, with gold prices touching a six-month peak.

Meanwhile, Bank of England Governor Andrew Bailey said getting inflation down to the central bank’s 2% target would be “hard work”, as most of its recent fall was due to the unwinding of the jump in energy costs last year.

Entain lost 1.8% after Goldman Sachs downgraded the Ladbrokes-owner’s stock to “Sell” from “Buy”.

Rightmove jumped 6.6% after UK’s largest property portal lifted its forecast for annual average revenue per advertiser.

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Rashmi Aich)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


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

Recent Post