Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Indexes  >  FTSE 100 Index    F100   GB0001383545

FTSE 100 INDEX (F100)
My previous session
Most popular
SummaryChartsNewsAnalysisHeatmapComponents 
News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : Retailers Help Drive FTSE 100 Toward Biggest Weekly Fall In 2 Months

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 10:52am CEST

By Carla Mozee, MarketWatch

Concerns over U.S. tax plan continue to weigh

U.K. stocks slipped Friday, with retailers among those losing ground, as the London gauge of blue-chip stocks moved toward its biggest weekly fall in nearly two months.

What markets are doing: The FTSE 100 index was down 0.1% at 7,478.83, with utilities, industrials, consumer goods and financial sectors on the decline. But the basic materials, technology, and oil and gas groups were rising. On Thursday, the benchmark fell 0.6% .

For the week, the London benchmark was on track for a 1% loss. That would be the biggest weekly decline since mid-September, according to FactSet data.

The pound traded at $1.3140, little changed from $1.3137 late Thursday in New York. Against the euro , sterling bought EUR1.1292, slightly higher than EUR1.1284.

The yield on the 10-year gilt rose 4 basis points to 1.30%.

Retail pain continues: A tough week for retail stocks continued Friday, after the release of research that showed British consumer spending is slowing.

Burberry Group PLC shares (>> Burberry Group) (>> Burberry Group) lost 3%. That drop adds to Thursday's tumble of 10% for the luxury goods maker after it warned that it doesn't expect sales growth until fiscal 2021 . The company also said it will close stores as it sharpens its focus on the high-end market.

Shares of retailer Next PLC (>> Next) and Marks & Spencer Group (>> Marks & Spencer Group) were down 0.9% and 1.2%, respectively. DIY retailer Kingfisher PLC (>> Kingfisher) was off 0.3%.

Kingfisher and M&S shares were looking at weekly losses of more 2% each, and Next was in line for a fall of more than 3%.

What strategists are saying: "The FTSE has struggled in the last couple of days, with a volatile commodity sector and a flagging set of retail stocks dragging the UK index back below 7,500," said Connor Campbell, financial analyst at Spreadex.

What's moving markets: Concerns about a possible delay to tax cuts in the U.S. lingered. Those worries helped push equity markets in Asia lower Friday, following a selloff in the U.S. on Thursday.

The Senate Finance Committee on Thursday released its version of a tax plan that would defer implementing a cut in corporate tax to 20% until 2019, diverging from the House Republicans' plan to introduce that rate next year. But jitters abated somewhat after the Republicans' bill was moved to a vote in the House , possibly next week.

The prospect of lower taxes and other stimulus put forward by the Trump administration has bolstered equity markets over the past year.

Stock movers: Mining shares were mostly higher Friday, with Glencore PLC (>> Glencore) and Rio Tinto PLC (>> Rio Tinto plc) (>> Rio Tinto plc) (>> Rio Tinto plc) up by 0.7% each. But Randgold Resources Ltd. (>> Randgold Resources)(>> Randgold Resources) was off 0.4%

Economic reports: A reading on U.K. industrial production in September is due at 9:30 a.m. London time, or 5:30 a.m. Eastern Time. A reading of 1.8% year-over-year is expected by analysts surveyed by FactSet.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FTSE 100 INDEX
07:09pEUROPE MARKETS: Europe Stocks End In The Green, Boosted By Major Oil Companie..
DJ
06:09pLONDON STOCK EXCHANGE : Oil majors give FTSE a boost, Next shines
RE
04:46pUnilever defends plan to go Dutch in charm offensive before vote
RE
08:43aSSE Fully Acquires Seagreen Wind Energy for GBP118 Million
DJ
05:47aEUROPE MARKETS: Deal News Lifts Sky, Randgold, But Trade Worries Halt Stoxx E..
DJ
05:46aEUROPE MARKETS: Deal News Lifts Sky, Randgold, But Trade Worries Halt Stoxx E..
DJ
09/24LONDON STOCK EXCHANGE : Sky, Randgold surge on deals while trade war weighs on F..
RE
09/24Comcast Corporation RECOMMENDED SUPERIOR CASH OFFER FOR SKY
DJ
09/21EUROPE MARKETS: Europe Stocks Score Strongest Weekly Win Since March, Lifted ..
DJ
09/21LONDON STOCK EXCHANGE : Sterling slide cements FTSE rally while Just Eat wilts
RE
More news
News of the components of FTSE 100 INDEX
08:43pMICRO FOCUS INTERNATIONAL PLC : The Schall Law Firm Announces the Filing of a Cl..
AC
08:39pSTANDARD CHARTERED : Al khaliji emtn program road show
AQ
06:30pROYAL DUTCH SHELL PLC : - Transaction in Own Shares
PR
06:29pGLAXOSMITHKLINE : GSK candidate vaccine helps prevent active pulmonary tuberculo..
PU
06:26pSHIRE PLC : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
05:51pASTRAZENECA : Positive Data Bolsters Case For AstraZeneca's Imfinzi -- Update
DJ
05:14pJ SAINSBURY : Sainsbury's continues to drive its commitment to cut food waste
PU
More news
Chart FTSE 100 INDEX
Duration : Period :
FTSE 100 Index Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FTSE 100 INDEX
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Top / Flop FTSE 100 INDEX
NEXT 5515 Real-time Quote.7.63%
RANDGOLD RESOURCES 5460 Delayed Quote.4.60%
JUST EAT 684.6 Real-time Quote.4.20%
GLENCORE 341.5 Delayed Quote.3.48%
INTERTEK GROUP 4959 Delayed Quote.3.40%
LONDON STOCK EXCHANGE 4584 Delayed Quote.-1.69%
PEARSON 872 Delayed Quote.-1.80%
SMURFIT KAPPA GROUP 3060 Delayed Quote.-2.30%
EASYJET 1333.5 Delayed Quote.-3.44%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP 659.4 Delayed Quote.-3.96%
Heatmap :