Latest news with #inflationdata
Reuters
2 days ago
- Business
- Reuters
London stocks gain ahead of spending review, US data
June 11 (Reuters) - London's FTSE 100 edged up towards an all-time high on Wednesday, as investors awaited a domestic public spending review and crucial U.S. inflation data scheduled in the day. The benchmark FTSE 100 (.FTSE), opens new tab was up 0.1%, coming close to an intraday record high. The mid-cap FTSE 250 (.FTMC), opens new tab was up 0.4% as of 0913 GMT. All eyes on the day were on Finance Minister Rachel Reeves' speech, where she will divide up more than 2 trillion pounds ($2.7 trillion) of public spending aimed at stimulating the British economy. Homebuilders and household goods stocks (.FTNMX402020), opens new tab gained 2.8% to hit a more than seven month-high, with Vistry (VTYV.L), opens new tab up 9%, Crest Nicholson (CRST.L), opens new tab gaining 5.5% and Bellway (BWY.L), opens new tab advancing 3% ahead of the speech. Most sectors were higher in the market, though heavyweight energy shares (.FTNMX601010), opens new tab weighed down 0.6%. Investors also awaited a key U.S. inflation reading for any signs that President Donald Trump's erratic tariff policies had started to show their impact on the economy. Representatives from the U.S. and China late on Tuesday agreed on a framework to put their trade truce back on track and remove some export restrictions from both sides. The agreement, however, is pending approval from the countries' leaders. Any signs of the deal coming into effect will be taken in stride by markets that have been grappling with the uncertainty created by an ever-changing U.S. trade policy and its impact on global economic growth. Ibstock sank 12.8% to the bottom of the FTSE 250, after warning of a hit to its adjusted EBITDA outlook for 2025. Ricardo shares jumped 25% to their highest level since early January after Canada-based WSP Global ( opens new tab said it would acquire British environmental and engineering consulting firm for about 363.1 million pounds ($489.6 million) including debt. Quilter (QLT.L), opens new tab gained 5.6%, among the toppers on the FTSE 100, after UBS upgraded the wealth manager's stock to "buy" from "neutral".
Yahoo
2 days ago
- Business
- Yahoo
Dow Jones Futures: U.S., China Reach Trade 'Framework' After Tesla, Google Mask Growth Stock Woes
The U.S. and China reached a tentative "framework" after Tesla and Google masked growth woes. CPI inflation data is due.
