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☆ BHP Anglo American bid: The clean energy race could trigger the biggest mining deal in decades
▼ + stars: | 2024-04-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record. BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total. The potential deal would have a higher value than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data. It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004. Shares in Anglo American soared as much as 13.8% on the news.

Persons: BHP, Dealogic, “, Mike Henry, ” Susannah Streeter, Hargreaves Lansdown, Rob North Organizations: London CNN — Mining, BHP, London Metals, Oz Minerals, United Kingdom’s, London Stock Exchange, City of, Hargreaves Locations: Australia, City, City of London

☆ Horses running loose in central London, police say
▼ + stars: | 2024-04-24 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Reuters —A number of horses are loose in central London, with the army called in to help locate them, police in the British capital said on Wednesday. Footage posted by social media users showed a saddled white horse covered in blood running through the street alongside a black one. “We are aware of a number of horses that are currently loose in central London and are working with colleagues, including the Army, to locate them,” the Westminster branch of London’s police said on X. ET) to reports of a person being thrown from a horse on Buckingham Palace Road in central London, a spokesperson for the service said. The Telegraph newspaper reported that five cavalry horses had run loose while exercising at Horse Guards Parade, the ceremonial parade ground in Westminster, close to Buckingham Palace and the Whitehall government district.

Organizations: Reuters, Army, London Ambulance Service, City of London Police, Telegraph, Horse Guards Locations: London, Westminster, Buckingham, City, Whitehall

☆ Riderless horses recovered after running loose through London; ‘a number’ of people injured
▼ + stars: | 2024-04-24 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Two horses on the loose bolt through the streets of London near Aldwych. LONDON — The U.K. army on Wednesday said they had recovered "a number" of military working horses after the animals broke free during a routine exercise and ran riderless through central London. "A number of military working horses become loose during routine exercise this morning. "A number of personnel and horses have been injured and are receiving the appropriate medical attention." The City of London Police said earlier on Wednesday that they had contained two horses near Limehouse in east London.

Organizations: LONDON, Horse Guards, The City of London Police Locations: London, Aldwych, The City, Limehouse

☆ Global police agencies take down massive scam website that defrauded thousands of victims
▼ + stars: | 2024-04-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Seksan Mongkhonkhamsao | Moment | Getty ImagesA huge fraud website used by thousands of criminals to trick people into handing over personal information such as email addresses, passwords and bank details, has been infiltrated by international police. Britain's Metropolitan Police said in a statement Thursday that the website, called LabHost, was used by 2,000 criminals to steal users' personal details. Police have so far identified just under 70,000 individual U.K. victims who entered their details onto a website linked to LabHost. LabHost obtained 480,000 credit card numbers, 64,000 PIN codes, as well as more than 1 million passwords used for websites and other online services, the Metropolitan Police said. The Metropolitan Police said that up to 25,000 victims in the U.K. have been contacted by police to notify them that their data has been compromised.

Persons: LabHost, Dame Lynne Owens, Owens Organizations: Britain's Metropolitan Police, Police, Metropolitan Police, The Metropolitan Police, Metropolitan Police Service, Intel, Microsoft, Shadowserver Foundation, Trend, Cyber Defence Alliance, National Crime Agency, City of London Police

☆ Bank of England to cut rates in May, Morgan Stanley says, retaining contrarian call
▼ + stars: | 2024-04-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The Bank of England could still cut interest rates in May, Morgan Stanley has said, in an increasingly rare call of confidence as market sentiment supporting such a move wanes. "We still entertain a May rate cut," chief economist Jens Eisenschmidt told CNBC's "Street Signs" on Wednesday, reiterating the bank's commitment to an earlier call. The Wall Street bank's contrarian view is now some way off consensus, which currently prices in an initial BOE rate cut in September, according to LSEG data. "In general, the central banks are all, to some extent, in the same boat. Morgan Stanley on Monday revised its ECB rate cut forecast, following an earlier revision in its Fed outlook.

Persons: Morgan Stanley, Jens Eisenschmidt, CNBC's, BOE, Andrew Bailey, Morgan Stanley's, Eisenschmidt, there's Organizations: Bank of England, European Central Bank, ECB Locations: City of London, London, United Kingdom, Europe, U.S

☆ Bank of England scraps outdated inflation forecasting model in major overhaul after Fed boss' review
▼ + stars: | 2024-04-12 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

LONDON — The Bank of England on Friday announced a "once in a generation" overhaul of its inflation forecasting following a long-awaited review by former Federal Reserve Chair Ben Bernanke. The review — initiated following criticism of the central bank's recent policymaking — sets out 12 recommendations which BoE Governor Andrew Bailey said the bank was committed to implementing. They include the scrapping of the Bank's long-held "fan chart" forecasting system and the introduction of a revamped forecast framework. It added that the BoE currently relies more heavily than other central banks on a central forecast, which may not fully account for wider risks or how inflation expectations can become "de-anchored." Additionally, the review said the bank needed to improve its communication with the public, suggesting the it put less emphasis on the central forecast, simplify its policy statement, and reduce repetitiveness."

Persons: Ben Bernanke, —, BoE, Andrew Bailey, Bailey Organizations: Bank of England, City of, Federal, CNBC, Monetary, Bank Locations: City, City of London, United Kingdom, U.S

☆ A student persuaded by his friend to get his legs amputated for a $1.3 million insurance scam wound up getting only $7,200 that he now has to return: prosecutors
▼ + stars: | 2024-03-18 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

A 23-year-old man in Taiwan had his legs amputated to receive a $1.3 million insurance payout, prosecutors said. Just days before, Zhang bought several expensive life insurance, travel insurance, and accident insurance policies, prosecutors said. Local media, citing prosecutors, reported that Zhang had claimed $7,200 from one insurer, but this money would be seized. The department's chief inspector, Tom Hill, said an increasing cost of living may push people to consider insurance fraud. AdvertisementThe FBI estimates that an annual $400 to $700 from the average US family's insurance premiums goes to covering insurance fraud costs.

Persons: —, Zhang, Liao, Tom Hill Organizations: Service, Taiwan Criminal Investigation, Local, London Police's, Department, FBI Locations: Taiwan, Taipei, City, London, South Korea

☆ Recession-hit Britain swings to economic growth in January, helped by construction bounce
▼ + stars: | 2024-03-13 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

People walk along Waterloo Bridge past the City of London skyline, the capital's financial district, on a sunny and mild day. LONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction output jumped unexpectedly. It follows a 0.1% contraction in December, while the U.K. economy entered a shallow recession in the second half of last year. Construction output was 1.1% higher in January, the ONS said, but fell 0.9% over a three-month period. Services recorded 0.2% growth in January, providing the biggest contribution to growth, as production output fell 0.2%.

Organizations: LONDON, National Statistics, Reuters, Services Locations: London, U.K

☆ We need more foreign direct investment in the UK: City of London Corporation
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe need more foreign direct investment in the UK: City of London CorporationChris Hayward, policy chairman of the City of London Corporation, discusses the U.K.'s Spring Budget and discusses what changes the Chancellor could make.

Persons: City of London Corporation Chris Hayward Organizations: City of London Corporation, of London Corporation

☆ This fund beat the S&P 500 without holding any Magnificent 7 stocks. Here's what they're buying right now
▼ + stars: | 2024-02-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Picking great stocks and avoiding disastrous investments enabled the Ranmore Global Equity Fund to beat the S & P 500 over the past two years, according to its fund manager. The fund, run by portfolio manager Sean Peche, returned 31% in 2023 compared to 24% for the S & P 500 . The Ranmore fund also outperformed its benchmark with 1.8% total returns in 2022 when the S & P 500 and broader indexes nearly fell into a bear market. The fund manager says they take a probability-based approach with many small positions rather than a few big bets. However, according to the fund manager, the market appears to be undervaluing its cash and securities.

Persons: Sean Peche, Peche, Andrew, there's, Where's, Ranmore, it's Organizations: Ranmore Global Equity Fund, Microsoft, Meta, Petrobras, Japan's Nippon TV, GSK, eBay, of, Bank of America, UBS, Carrefour, ABN AMRO, Nippon Locations: Wall, of London, Europe, Ukraine, U.S, Japan, Holland, Netherlands

☆ Bank of England rate cuts likely later but larger, Goldman Sachs says
▼ + stars: | 2024-02-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Mike Kemp | In Pictures | Getty ImagesThe Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year, new forecasts from Goldman Sachs show. But it said the central bank was then likely to cut rates more quickly than previously anticipated as inflation shows signs of cooling. Goldman now sees five consecutive 25 basis point interest rate cuts this year, lowering rates from their current 5.25% to 4%. Bank of England Governor Andrew Bailey said Tuesday that bets by investors on interest rate cuts this year were "not unreasonable," but resisted giving a timeline. Goldman said there was a 25% chance the BOE would delay rate cuts beyond June if wage growth and services inflation remained sticky.

Persons: Mike Kemp, Goldman Sachs, Goldman, BoE, Andrew Bailey, Bailey, Huw Pill, BOE Organizations: Bank of England, of England, Treasury, Bank Locations: City of London, London, United Kingdom

☆ As London loses another listing, analysts are wary of writing off the UK capital
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The offices of London Stock Exchange Group Plc, right, in Paternoster Square in the City of London, UK. Bloomberg | Bloomberg | Getty ImagesLONDON — TUI became the latest company to ditch its share listing in London, as shareholders voted overwhelmingly for the German travel giant to list solely in Frankfurt. Around 77% of transactions in TUI shares are currently settled via Germany, with the U.K. now accounting for less than a quarter. U.K. stocks are trading at a considerable discount to the rest of Europe, having suffered an investor flight in recent years. London still a contender London has also suffered a number of de-listings and high-profile IPO snubs over the past year.

Persons: TUI, Frankfurt's, Mathias Kiep, London, SoftBank, Rishi Sunak's Organizations: London Stock Exchange Group, City of, Bloomberg, Getty, London Stock Exchange, CNBC, Nasdaq Locations: Paternoster, City, City of London, London, Frankfurt, Hannover, Germany, TUI, Europe

☆ Wheely, Uber's luxury competitor, launches in Dubai to take on the UAE's dominant player
▼ + stars: | 2024-02-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The company, founded by Russian-Swiss entrepreneur Anton Chirkunov, told CNBC it will offer rides in the United Arab Emirates city starting Wednesday, catering mainly to wealthy clients. "European families and entrepreneurs have been moving to Dubai in the last five years," Chirkunov told CNBC in an interview ahead of the launch. Wheely's platform is tailored more toward mass market usage, however, and Chirkunov thinks his platform has an opportunity to stand out. He compares the Wheely brand to the American Express Centurion and Platinum membership credit cards in terms of brand status. Wheely plans to expand its Middle East team and chauffeur network to over 1,000 in the next three to five years, the company told CNBC exclusively.

Persons: Shariff, Covid, Anton Chirkunov, Wheely, That's, Mercedes, Chirkunov, it's, chauffeurs, Duke of Northumberland, Covid lockdowns Organizations: Russian, CNBC, United Arab Emirates, BMW, Benz, Tesla, American Express, Mercedes, East, Companies Locations: Dubai, Swiss, Europe, London, Mayfair, City of London, Wheely, Paris

☆ European markets head for lower open with euro zone inflation data, Bank of England decision in focus
▼ + stars: | 2024-02-01 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Buses pass in the City of London financial district outside the Royal Exchange near the Bank of England on 2nd July 2021 in London, United Kingdom. European stocks are heading for a lower open ahead of euro zone inflation data for January and the Bank of England's latest monetary policy decision on Thursday. Investors will be keeping an eye on the latest monetary policy decision from the Bank of England on Thursday. The central bank is widely expected to hold interest rates steady at 5.25%, but market observers will be closely watching voting patterns, projections and language for hints about future rate cuts.

Organizations: Royal Exchange, Bank of England, Bank of Locations: City, London, United Kingdom

☆ Bank of England chief hints the market could be getting it right on rate cuts
▼ + stars: | 2024-02-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — Bank of England Governor Andrew Bailey on Thursday signaled that financial markets may be correct in their expectations for the future path of rate cuts. Speaking to CNBC, Bailey said he was "not going to commit" to a specific timeline for rate cuts, but added that he did not object to the market consensus. "I'm not going to give a view on how many cuts there'll be and when they will be. But I think that view that the market is taking is not one I object to," he told CNBC's Steve Sedgwick. Investors priced in four rate cuts by the end of this year after the central bank voted to hold interest rates steady at 5.25% earlier Thursday.

Persons: Andrew Bailey, BOE, Bailey, I'm, CNBC's Steve Sedgwick Organizations: Bank of England, City of, LONDON — Bank of England, CNBC, Monetary Locations: City, City of London

☆ Bank of England leaves policy unchanged, says interest rates are 'under review'
▼ + stars: | 2024-02-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — The Bank of England held interest rates steady at 5.25% on Thursday. The Monetary Policy Committee voted 6-3 in favor of holding rates. "The MPC remains prepared to adjust monetary policy as warranted by economic data to return inflation to the 2% target sustainably," the Bank said in statement. Much of the market focus of late has been on when the central bank will start cutting interest rates from their current 15-year high. However, it has remained on a general downward trajectory, while the Bank's key indicators of the labor market, wage growth and services inflation have all shown signs of easing.

Persons: BOE Organizations: Bank of England, City of, LONDON, Monetary, Bank Locations: City, City of London

☆ Bank of England could be about to open the door to interest rate cuts
▼ + stars: | 2024-01-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. Henry Nicholls | ReutersLONDON — The Bank of England is widely expected to hold interest rates steady at 5.25% on Thursday, but market observers will be closely watching voting patterns, projections and language for hints about future rate cuts. The labor market has shown signs of rebalancing, although the overall trajectory remains somewhat uncertain, while wage growth and services inflation have surprised the Bank's November projections substantially to the downside, Goldman Sachs economists noted on Sunday. "We expect the MPC to retain its data-dependent approach and reiterate that monetary policy 'will need to be sufficiently restrictive for sufficiently long'," Quadri said. Goldman sees a first 25 basis point cut in May, followed by further quarter-point increments at every meeting until the Bank rate reaches 3% in May 2025.watch now

Persons: Henry Nicholls, Goldman Sachs, Ibrahim Quadri, Swati, Catherine, Mann, Quadri, Goldman Organizations: Bank of England, Reuters LONDON, Monetary, MPC, Goldman Locations: City, London, Britain, British, U.K

☆ Police arrest pro-Palestine protestors for 'locking on' plot to shut down the London Stock Exchange
▼ + stars: | 2024-01-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

The logo of London Stock Exchange Group Plc in the office atrium in the City of London, UK, on Tuesday, March 14, 2023. London police on Sunday arrested six pro-Palestine activists for alleged plans to lock themselves to the doors of the London Stock Exchange to attempt to disrupt trading amid the ongoing Israel-Hamas war. The six Palestine Action protestors, all in their 20s or early 30s, planned to stage a week of protests, starting Monday morning. The activists intended to start their week of protests on Monday morning by chaining their necks to the doors of the London Stock Exchange to prevent anyone from entering, according to the Express' report published Sunday. They also planned to spray fire extinguishers and shoot fake bank notes painted red out of "money guns" around the stock exchange, according to the Express report.

Persons: Sian Thomas Organizations: London Stock Exchange Group, City of, London, Sunday, Palestine, London Stock Exchange, Daily Express, Express, Metropolitan Police, Israel Defense Force, Hamas, London's Metropolitan Police Force Locations: City, City of London, Israel, Palestine, Gaza, London

☆ UK and Switzerland sign post-Brexit financial services deal
▼ + stars: | 2023-12-21 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The U.K. and Switzerland are deepening the ties between their financial services sectors with a new post-Brexit deal. Sopa Images | Lightrocket | Getty ImagesLONDON — The U.K. and Switzerland on Thursday signed a post-Brexit financial services deal designed to bring two of Europe's largest banking centers closer together. He added that the mutual recognition accord, dubbed the Bern Financial Services Agreement, would provide a "blueprint" for future deals with other countries. As such, financial services providers and insurers will be able to offer certain cross-border activities in both Switzerland and the U.K. Meanwhile, U.K. advisors will be permitted to "temporarily serve" wealthy clients locally in Switzerland without registering in the country.

Persons: Jeremy Hunt, Hunt, Karin Keller, Sutter Organizations: Getty, British, CNBC, European Union, Swiss, U.K, City Locations: Switzerland, Britain, Bern, City of London

☆ Bank of England set to hold interest rates as economists debate 2024 cuts
▼ + stars: | 2023-12-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. The market is pricing an almost 100% chance of a hold on Thursday, according to LSEG, with economic data since the Bank's last meeting proving largely inconclusive. The latest labor market data on Tuesday indicated a continuation of recent trends, with unemployment remaining broadly flat and vacancies continuing to decline at pace. Average pay including bonuses fell by 1.6% between September and October, versus an average monthly growth rate of 1.1% in the first half of the year. "An unchanged forward guidance will also serve the MPC well to push against the current market pricing of Bank Rate which assigns an increasing probability to cuts in H1 2024," they said.

Persons: BOE, Hollie Adams, Jake Finney, Finney, Abbas Khan, Jack Organizations: Bank of England, City of, Bloomberg, Getty, Monetary, Federal Reserve, Reuters, Bank, Barclays, MPC Locations: City, City of London

☆ UK needs new plan to reverse hit to living standards, researchers say
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

People walk alongside the City of London financial district in London, Britain, October 25, 2023. REUTERS/ Susannah Ireland/File Photo Acquire Licensing RightsLONDON, Dec 4 (Reuters) - Britain needs a new economic strategy to reverse 15 years of falling living standards and worsening inequality, a leading think tank and an academic research centre said on Monday. "There is no excuse for fatalism," Torsten Bell, chief executive of the Resolution Foundation, said. "Closing the gap with peers like Australia, France and Germany would deliver huge living standards gains, with typical households over 8,000 pounds better off." ($1 = 0.7881 pounds)Writing by William Schomberg; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Susannah Ireland, Jeremy Hunt, Keir Starmer, Torsten Bell, William Schomberg, Daniel Wallis Organizations: City, REUTERS, Foundation, London School of Economics, Centre for Economic, Labour Party, Conservative Party, Starmer's Labour, Thomson Locations: London, Britain, Australia, France, Germany, Birmingham, Manchester

A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. Finance executives, consultants and headhunters interviewed by Reuters predict subdued deal flows, modest bonuses for most and heavy job cuts in 2024. "2023 will ultimately be one of the lowest corporate finance fee pools in modern history," said Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank. JOB CUTSBanks have already turned to cost cuts to try to weather the downturn, which in a people-intensive business means job losses. And although some bankers expect a tough 2024, others sense an opportunity for European banks from the Basel Endgame.

Persons: Hollie Adams, Fabrizio Campelli, Banks, Ronan O'Kelly, Oliver Wyman, O'Kelly, Dominic Hook, Goldman Sachs, Vis Raghavan, JP Morgan, Morgan McKinley's, Stephane Rambosson, headhunter, Rambosson, Ana Botin, Morgan's Raghavan, there's, Oliver Wyman's O'Kelly, Deutsche's Campelli, Anousha Sakoui, Carolyn Cohn, Jesus Aguado, Alexander Smith Organizations: REUTERS, LONDON, Finance, Reuters, Corporate Bank, Investment Bank, Deutsche Bank, Organisation for Economic Cooperation, Development, Barclays, Lloyds, Challenger Metro Bank, UBS UBSG.S, Citi, Workers, Global Investment Banking, Employment, European Union, Santander, Global, Basel, Thomson Locations: City, London, Britain, Europe, Middle East, Africa, Ukraine, West, China, United States, India, Madrid

☆ Bank of England drags Bagehot into the shadows
▼ + stars: | 2023-12-01 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

That is no longer tenable, in part because of reforms to bank regulation that shifted activity from traditional lenders to financial market players. These days, the institutions in need of urgent liquidity are just as likely to be pension funds, insurers or hedge funds. The British central bank’s initial ideas make sense, but only solve part of the problem. The central bank can short-circuit the panic by opening the credit taps. Central banks are only just starting to grapple with what it means to be a lender of last resort in that context.

Persons: Walter Bagehot’s, Andrew Hauser, BoE, WALTER, Gurney, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, Bank of England, Reuters Graphics Reuters, U.S, Treasury, Federal Reserve, Pensions, . Treasury, Citadel, Millennium Management, City of, U.S . Federal, Gurney & Company, Victorian, Thomson Locations: British, City, City of London, Basel, Overend, Lombard

☆ UK's FTSE 100 lags regional peers as banks, insurers fall
▼ + stars: | 2023-11-29 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +3 min

The blue-chip FTSE 100 (.FTSE) index dipped 0.1%, while the pan-European STOXX 600 (.STOXX) rose 0.5%. The life insurance sector (.FTNMX303010) fell 0.4%, with Prudential (PRU.L) slipping 0.7% after Deutsche Bank reduced its price target on the stock. Banks (.FTNMX301010) slipped 1.7% following a 2.3% fall in HSBC (HSBA.L), which was the biggest weight on the FTSE 100. Among individual stocks Halfords Group (HFD.L) plunged 21.1% after the bicycles-to-car parts retailer narrowed its annual profit forecast range. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Andrew Bailey, BoE Governor Andrew Bailey, Eddie Cheng, Banks, Shashwat Chauhan, Dhanya Ann Thoppil, Eileen Soreng Organizations: London Stock Exchange Group, REUTERS, Aviva, Bank of England, Prudential, Deutsche Bank, U.S . Federal Reserve, Allspring Global Investments, HSBC, Halfords, Thomson Locations: City, London, Britain, Europe, United States, Bengaluru

☆ London stocks fall as investors await more data; Rolls-Royce shines
▼ + stars: | 2023-11-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020. The exporter-heavy FTSE 100 (.FTSE) fell 0.6% touching a two-week low intraday, while the more domestically-oriented FTSE 250 midcap index (.FTMC) also shed 0.6%. Personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 2.7% after HSBC reduced the stock's price target. Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the U.S. - the Federal Reserve's preferred inflation gauge - later this week. Man Group (EMG.L) fell 3.2% after Morgan Stanley downgraded the hedge fund manager's stock to "Equal-Weight" from "Overweight".

Persons: Toby Melville, inflation's, Andrew Jones, Janus Henderson, Dave Ramsden, Jonathan Haskel, Pearson, Morgan Stanley, Shashwat Chauhan, Sonia Cheema Organizations: London Stock Exchange Group, REUTERS, Royce, Burberry Group, HSBC, PT Pearson, Man, Janus Henderson Investors, Bank of England's, Thomson Locations: City, London, Britain, U.S, Bengaluru

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