|Day's Range||6,979.57 - 7,081.88|
|52 Week Range||6,851.60 - 7,903.50|
Since the 2016 vote, the FTSE 100 index has maintained a negative correlation with sterling, meaning that the benchmark gains whenever the currency falls. Thursday provided an illustration of how this isn’t always reliable: the FTSE 100 fell as much as 0.8 percent, even with the pound plunging as much as 1.9 percent at one point. Sure, the gauge still outperformed the European benchmark, but a slide in domestic stocks like Lloyds Banking Group Plc and Legal & General Group Plc was so sharp that it dragged the index down for a large part of the day.
Prime Minister Theresa May battled on Thursday to save a draft divorce deal with the European Union after her Brexit secretary Dominic Raab and other ministers quit in protest and eurosceptic lawmakers stepped up efforts to topple her. - Credit rating firm S&P Global warned it could cut Britain's AA credit rating again if the risk of a "disorderly" Brexit became more apparent. - The cost of insuring exposure to Britain's sovereign debt rose to its highest level in almost two years.
EUROPE MARKETS European markets had a tough session Thursday, as the resignation of the U.K.’s Brexit secretary and other departures triggered massive uncertainty over the country’s plans to exit from the EU and the future of the government.
U.K. Prime Minister Theresa May will hold a news conference at 12 p.m. Eastern, 5 p.m. local, amid escalating Brexit turmoil, according to multiple local reports. After May said she had secured cabinet backing for a draft Brexit deal on Wednesday, U.K. assets rallied as investors breathed a sigh of relief, just to be met with a slew of resignations, including Brexit Secretary Dominic Raab, on Thursday. Multiple calls for a vote of no confidence for May's embattled premiership also surfaced on Thursday. The British pound , in response, was logging its worst one-day drop since Oct. 2016, according to Dow Jones Data Group last buying $1.2749, down 1.8%. The British stock benchmark FTSE 100 was meanwhile down 0.6% .
U.S. stocks moved broadly lower in early trading Thursday, extending the market's losing streak into a sixth day. Losses among retailers, homebuilders and health care companies outweighed gains in technology ...
By Helen Reid LONDON (Reuters) - British stocks slid on Thursday with RBS and housebuilders sharply down after Brexit minister Dominic Raab quit in a blow to Prime Minister Theresa May's efforts to win ...
News of the resignation of the U.K.’s Brexit secretary hits banks and smaller-company shares as the pound plunges and questions swirl over the future of the U.K.’s deal.
Global stocks reverse gains, sending U.S equity futures into the red, after a key U.K. lawmaker resigns from government over Prime Minister Theresa May's Brexit deal, triggering the potential for a leadership challenge or fresh national elections. Shares in Asia were also supported by solid China housing data and a weaker U.S. dollar, with the MSCI benchmark rising 1.2% towards the close of trading. Wall Street will get a series of updates on the health of the U.S. consumer Thursday, with October retail sales data and quarterly earnings from Walmart, Nordstrom and JC Penney.
European shares reversed early gains, falling into negative territory on Thursday in a broadbased rout as British Prime Minister Theresa May's government was plunged into fresh crisis over Brexit, with autos and banking stocks leading the fallers. The resignation of two British cabinet ministers including Brexit Secretary Dominic Raab triggered a rout in UK housebuilders and banks, while investors continued to fret about Rome's standoff with Brussels and Washington's row over trade with Beijing. The pan-European STOXX 600 index (.STOXX) was down 0.5 percent by 1036 GMT, with German, Spanish and French bourses firmly in negative territory.
News that the U.K. Brexit minister has quit sent a ripple of shock through European stock markets on Thursday. Dominic Raab announced his decision on Twitter a day after U.K. Prime Minister Theresa May got her draft plan to exit the European Union approved, but in a decision that split her cabinet. As the British pound plunged on the news, the FTSE 100 index rose 0.3%, but banks pulled in the other direction, with Royal Bank of Scotland PLC [S: rbs] slumped nearly 7%, while European banks such as Deutsche Bank AG down 1.8%, and the Stoxx Europe 600 index down 0.4% as the banking sector slumped. Carlo Alberto De Casa, chief analyst at ActivTrades, said the market reaction shows fears of growing risk for the government "with Theresa May's majority now looking extremely vulnerable. Moreover, this departure could put at risk the Brexit deal and traders are selling the British currency due to growing uncertainty about the future of the U.K."
European shares marched higher on Thursday as oil prices stabilised and mining stocks rallied on hopes that China and the United States may reach a rapprochement to end their long-running trade spat, offsetting bad news in the tech sector. Sentiment was boosted after China delivered a written response to U.S. demands for wide-ranging trade reforms ahead of an expected meeting between Chinese President Xi Jinping and his counterpart Donald Trump later this month.
Theresa May has to get the draft deal approved by a majority in Parliament. U.K. Prime Minister Theresa May persuaded most of her senior ministers to back the draft Brexit agreement that has finally been struck with the EU — now all she has to do get it approved by a largely hostile Parliament. By lunchtime Thursday, notable Euroskeptic lawmaker Jacob Rees-Mogg said that a number of letters of no confidence had been submitted which could potentially force a vote within the ruling Conservative Party on her leadership.
Royal Mail ’s half-year profits have slumped by more than half, after the privatised postal service saw revenues fall at its core UK business and failed to hit productivity and cost savings targets. The ...
Key ministers are quitting Theresa May’s cabinet over her Brexit deal, and that’s driving down the pound. Yahoo Finance’s Alanna Petroff has details from London.