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UK Market Modestly Lower

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

The market is modestly lower in afternoon trading Wednesday, as unimpressive economic reports and apprehensions about the U.S. private jobs data weighed on sentiment.

The Euro Stoxx 50 index of eurozone blue chippers is losing 0.20 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.19 percent.

After beginning the day's trade at 5,990, the FTSE 100 index has been seeing volatile trading. The index is currently losing 0.18 percent.

Telecom giant Vodafone is down 2.9 percent. Retailer Marks & Spencer is falling 2.3 percent. Kingfisher is losing 1 percent.

Lender Lloyds Banking group is retreating 2.1 percent. Morgan Stanley lowered its price target on Lloyd to 53 pence from 57 pence. Barclays is losing 1.4 percent.

Plumbing products maker Wolseley is down 0.3 percent. The company reported a ris ein third-quarter trading profit.

Security firm G4S is adding 2 percent. Clothing & footwear firm Burberry Group is rising 1.7 percent.

Hammerson is adding 1.3 percent, as the real estate investment trust reportedly received a broker upgrade.

Miner Rio Tinto is adidng 1.6 percent, Anglo American is gaining 1.2 percent and BHP Biliton is advancing 1 percent.

Outside the main index, Northumbrian Water Group is falling 0.6 percent. The company reported a marginal rise in full year pre-tax profit.

Elsewhere in Europe, the German DAX is losing 0.18 percent. The French CAC 40 and Switzerland's SMI are declining 0.11 percent and 0.20 percent, respectively.

In economic news, German manufacturing sector expanded at the slowest pace in seven months in May. In France also, manufacturing sector expanded at a notably slower pace in the month.

In the U.K., seasonally adjusted Markit/Chartered Institute of Purchasing & Supply Purchasing Managers' Index fell more than expected to 52.1 from a downwardly revised 54.4 in April. The consensus forecast called for a reading of 54.1.

Meanwhile, the number of loans approved for house purchase in the U.K. dropped to 45,166 in April from 47,145 in March, below the expected level of 47,000, the Bank of England said in a report.

Across Asia/Pacific, China's Shanghai Composite Index rose 0.02 percent and Japan's Nikkei 225 added 0.27 percent. Australia's All Ordinaries edged down 0.01 percent and Hong Kong's Hang Seng slipped 0.24 percent.

In the U.S., futures point to a lower open on Wall Street. In the previous session, the Dow rose 1 percent, the Nasdaq jumped 1.4 percent and the S&P 500 advanced 1.1 percent.

In the commodity space, crude for July delivery is sliding $0.19 to $102.51 per barrel and August gold is slipping $3.9 to $1532.9 a troy ounce.

For comments and feedback contact: editorial@rttnews.com

Global Economics Weekly Update - Jun 01 - Jun 05, 2026

June 05, 2026 16:18 ET
A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.

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