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 falls on energy, miners drag

2023 12 04T081706Z 1 LYNXMPEJB306Z RTROPTP 4 BRITAIN STOCKS - Global Banking | Finance

UK’s FTSE 100 falls on energy, miners drag

By Shashwat Chauhan

(Reuters) -The UK’s FTSE 100 fell on Monday as losses in heavyweight energy and mining stocks outweighed broader market gains, while the focus slowly shifted to the United States’ jobs data due later in the week.

The commodities-heavy FTSE 100 fell 0.3%, while the more domestically-focussed FTSE 250 midcap index added 0.5%.

The oil and gas sector fell 2.0% as crude oil prices fell on persistent pressure from the OPEC+ decision and uncertainty over global fuel demand growth. [O/R]

Industrial metal miners slipped 2.5% as copper prices fell from near four-month highs on a stronger dollar. [MET/L]

The aerospace and defence sector added 0.6%, helping limit losses. Shares of Rolls-Royce gained 3.0% after J.P. Morgan upgraded the engineering company’s stock to “overweight” from “neutral”.

Across other assets in the UK, the pound dipped 0.3% against the dollar, while yields on UK government bonds were largely subdued.

Meanwhile, the market will eye a bunch of U.S. employment data this week, with an October JOLTS number and November ADP National Employment report due during the week in the lead up to the more comprehensive November non-farm payrolls report on Friday.

“As ever, market narrative will be swayed by the outcome of the number, with the market hoping for a level which supports the likelihood of a soft landing, without being too strong so as to reopen the hiking debate,” Richard Hunter, head of markets at interactive investor said.

Among individual stocks, DS Smith rose 2.3% after Barclays upgraded the cardboard maker’s stock to “overweight” from “equal-weight”.

888 Holdings jumped 13.0% on a report that the bookmaker rejected a 700 million pound ($886.69 mln) buyout offer from Playtech in July.

Wizz Air fell 1% after Deutsche Bank downgraded the European budget carrier’s stock to “sell” from “hold”.

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Janane Venkatraman)

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