Edition:
India

Sagarika Jaisinghani

Slowing job growth weighs on Wall Street as focus turns to stimulus

07 Aug 2020

Wall Street's main indexes fell on Friday as data showed a sharp slowdown in U.S. employment growth, with investors now looking for signs of another fiscal stimulus bill to revive the economy from a pandemic-driven recession.

London stocks gain on week; U.S. jobs data, tensions with China weigh

07 Aug 2020

London's FTSE 100 closed flat on Friday as a commodity-linked slump offset gains spurred by some upbeat earnings and AstraZeneca, while an index of more domestically-focused stocks rose as hopes grew of a trade deal with the European Union.

UPDATE 2-London stocks gain on week; U.S. jobs data, tensions with China weigh

07 Aug 2020

* U.S. employment rise beats expectations but falls sharply m-o-m

US STOCKS-Wall St retreats on slowing jobs growth, U.S.-China friction

07 Aug 2020

* Trump moves to ban WeChat, TikTok, amps up friction with Beijing

US STOCKS-Wall St dips on slowing job growth, U.S.-China tensions

07 Aug 2020

* Trump moves to ban WeChat, TikTok, amps up friction with Beijing

US STOCKS-Wall St set to dip on slowing job growth, U.S.-China tensions

07 Aug 2020

* Trump moves to ban WeChat, TikTok amps up friction with Beijing

US STOCKS-Sino-U.S. tensions hit futures ahead of jobs report

07 Aug 2020

Aug 7 U.S. stock index futures fell on Friday as President Donald Trump's moves to ban WeChat and TikTok intensified tensions with Beijing, while investors also braced for data likely to show a sharp slowdown in jobs growth in July.

Glencore tumble weighs on FTSE 100; BoE sees longer recovery period

06 Aug 2020

London-listed shares broke a three-day winning run on Thursday as commodities giant Glencore tumbled after scrapping its dividend to pay down debt, while the Bank of England forecast a slower-than-expected rebound from the COVID-19 pandemic.

UPDATE 2-Glencore tumble weighs on FTSE 100; BoE sees longer recovery period

06 Aug 2020

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * BoE now sees recovery to pre-pandemic levels by end-2021 * Glencore scraps dividend, books $3.2 billion charge * Aviva surges on plan to reduce Asia, Europe focus * FTSE 100 down 1.3%, FTSE 250 off 0.9% (Updates to market close) By Sagarika Jaisinghani and Susan Mathew Aug 6 London-listed shares broke a three-day winning run on Thursday as commodities giant Glencore tumbled after scrapping its dividend to pay down debt, while the Bank of England forecast a slower-than-expected rebound from the COVID-19 pandemic. Glencore dropped 8.1% as it also booked a $3.2 billion impairment charge, driving the FTSE 100 down 1.3%. With the pound stronger, London shares in miners BHP , Rio Tinto fell after solid gains on Tuesday, as did oil majors BP and Royal Dutch Shell . The BoE said the British economy would not recover to its pre-pandemic size until the end of next year - later than its earlier estimate, but its projections for 2020 were less grim than in May. There was no immediate case to cut rates below zero, it added. But, "there is little incentive to rule out negative rates right now and we expect the market to stay very invested in this debate well into 2021," said strategists at ING. "In choosing to keep the bank rate and the asset purchasing program target unchanged, the BoE still has the door open for further policy action – probably at the November meeting." Despite a stimulus-led rally since April, the FTSE 100 is still down about 20% this year with surging COVID-19 cases raising the spectre of further lockdowns. This compares to a 3% rise for the S&P 500 with a U.S. fiscal aid package eyed. British Housing Secretary Robert Jenrick said new housing starts could be down as much as 40% this year even with the industry showing signs of recovery. Homebuilders Taylor Wimpey , Barratt Developments and Persimmon lost between 3.7% and 4.3%. At the other end, insurer Aviva's shares shot up 4.6% as analysts cheered its decision to reduce focus on Asia and Europe after reporting a 12% drop in first-half operating profit. The mid-cap FTSE 250 was down 0.9%, with industrial and financial stocks among the biggest drags. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu and Lisa Shumaker)

Gold surge, Hastings buyout lift London stocks ahead of BoE meeting

05 Aug 2020

Surging prices for gold and other metals and a $2.2 billion buyout offer for Hastings Group saw London's mid-cap index post its best session in seven weeks on Wednesday, with some upbeat earnings and economic data also aiding sentiment.

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