• Write for Us
  • Advertise
  • About
  • Contact
Tuesday, October 3, 2023
British Herald
Advertisement
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
Home Finance

FTSE falls as China data drains investor confidence ahead of G20

Editorial Bureau by Editorial Bureau
November 30, 2018
0
FTSE falls as China data drains investor confidence ahead of G20

FILE PHOTO: A man passes a screen showing the activity of the FTSE index at Canary Wharf financial district in London August 5, 2011. REUTERS/Luke MacGregor/File Photo

74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

LONDON (Reuters) – UK shares were lower on Friday, heading towards their second straight monthly loss, as weaker-than-expected China data drained confidence ahead of a G20 summit this weekend, hitting financial and mining stocks hardest.

You might also like

Pickering Energy Partners launches oil and gas investment banking unit

Cryptoassets increase risk in developing economies, study says

Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever

The FTSE 100  was down 0.8 percent at 0943 GMT and underperforming its euro-zone peers due to its heavy weighting in mining stocks. The midcap FTSE 250  was down 0.6 percent.

Pharma and biotech were the only sectors in positive territory as investors flocked to high-dividend defensive stocks that are favoured during times of economic and geopolitical uncertainty.

In contrast, mining stocks were down 1.6 percent after China reported its weakest factory growth in more than two years and as investors fretted about the outcome of a key meeting between U.S. President Trump and China’s Xi Jinping over trade on Saturday.

It’s the first meeting between the two leaders in months while Trump has threatened to increase import tariffs on goods from the United States’ top trading partner in the new year.

With just one month to go, the mining sector is set for its first annual drop since 2015 amid lingering worries that Washington’s trade row with Beijing could choke industrial metals demand from China, the world’s top commodities market, and hurt the global economy.

Among other companies exposed to the economic climate in the world’s second largest economy, Burberry  dropped 2.7 percent along with other European luxury goods makers.

China’s burgeoning middle-class with greater spending clout are an increasingly important market for high-end retailers.

Elsewhere, Sage was the biggest decliner after Goldman Sachs downgraded the British software group to neutral, noting the time it will take for the company to shift to subscription services.

Among the midcaps, financial stocks were the biggest falls, with CYBG down 3.9 percent and Quilter down 3.7 percent.

Investors continued to punish Thomas Cook after its latest profit warning this week as the travel agent struggles with stiff competition from online rivals and low-cost airlines.

Late on Thursday,  Global revised its credit outlook for the company to negative. Shares fell another 4.3 percent to the bottom of the FTSE 250 stack and their lowest levels in six years. On Friday, Berenberg Bank downgraded the stock to sell, describing the stock as “uninvestable”.

On the blue-chip index, rival TUI was down 0.7 percent.

(Reporting by Josephine Mason; Editing by Richard Balmforth)

Share30Tweet19
Editorial Bureau

Editorial Bureau

Recommended For You

Pickering Energy Partners launches oil and gas investment banking unit

September 1, 2023
Pickering Energy Partners

Pickering Energy Partners (PEP) announced the launch of a financial advisory unit for oil and gas dealmaking, signaling a renewed commitment to traditional fossil fuels. This move comes...

Read more

Cryptoassets increase risk in developing economies, study says

August 23, 2023
Cryptoassets

The Bank for International Settlements has published a paper that declares cryptoassets , promoted as the future of finance, have not lived up to their promises and are...

Read more

Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever

July 19, 2023
Paul Krugman

Nobel laureate Paul Krugman recently wrote an opinion piece in The New York Times where he discussed the dominance of the U.S. dollar and the possibility of the...

Read more

Satya Nadella : Microsoft’s goal is to reach $500 billion in sales by 2030

June 27, 2023
Satya Nadella

Microsoft's CEO, Satya Nadella, informed his staff and the board that the company expected to generate $500 billion in revenue by the 2030 fiscal year. It intends to...

Read more

EDX Markets takes FinTech world by storm with successful funding round

June 23, 2023
EDX Markets

EDX Markets , the trailblazer in offering secure and regulatory-compliant digital asset trading facilitated by trusted intermediaries, has made waves today as it announces the launch and completion...

Read more
No Result
View All Result
Donald Trump

Donald Trump attacks New York court for fraud trial that threatens his business career

October 3, 2023
Uk gurudwara

UK : After Glasgow Gurudwara Incident, Indian National Attacked By Pro-Khalistan Elements

October 2, 2023
SlovakiaElection

Slovakia election : pro-Moscow former PM on course to win with almost all votes counted

October 1, 2023

Tags

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england europe European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea politics Rishi Sunak russia south korea spain taiwan trending Trump turkey Twitter UK Ukraine usa worldnews
British Herald

Top News in World: Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

CATEGORIES

  • Africa
  • Articles
  • Asia
  • Brand Feature
  • Business
  • Climate & Environment
  • Companies
  • Crypto
  • Culture and Lifestyle
  • Daily Roundup
  • Economics
  • ECONOMY
  • Entertainment
  • Europe
  • Fashion
  • Finance
  • Financial Markets
  • Fintech
  • Health
  • IN UK 01
  • IN UK 02
  • Investing
  • Latin America
  • Market
  • Middle East
  • Oceania
  • Opinion
  • Pharma/BioTech
  • Politics
  • Reviews
  • Science & Technology
  • Sport
  • Sustainability
  • Tech
  • Technology
  • Travel
  • UK
  • Uncategorized
  • USA
  • Videos
  • World

BROWSE BY TAGS

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england europe European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea politics Rishi Sunak russia south korea spain taiwan trending Trump turkey Twitter UK Ukraine usa worldnews

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Go to mobile version