The latest updates on the FTSE 100 and London’s financial markets from City A.M.’s newsroom in the heart of the City of London.
Overnight, the S&P 500 dipped 0.2 per cent, while the Nasdaq Composite fell 0.5 per cent except for Amazon and Alphabet. The Russell 2000 increased 0.3 per cent.
In Asia-Pacific, Australia’s S&P/ASX 200 declined slightly, and South Korea’s Kospi Composite rose notably. The Hang Seng index dropped marginally, while the Shanghai Composite and Shenzhen Composite indices increased. Japan’s Nikkei 225 fell. The dollar index remained stable at 102.84.
Oil edged up after US crude inventories declined and amid worries about Ukrainian attacks on Russian refineries.
Bitcoin hovered above $73,000 level after reaching a fresh all-time high of $73,664 on Wednesday.
The US House of Representatives passed a bill urging ByteDance to sell TikTok’s US assets within six months or face a ban, posing a significant threat to the app’s future.
Despite uncertainties about Bank of England’s interest rates, February saw stability in Britain’s housing market. The Royal Institution of Chartered Surveyors (RICS) reported stable new buyer inquiries and a rise in house prices.
Investors await key economic indicators like US retail sales and producer prices index (PPI) data.
Corporate earnings releases include Vistry, Savills, and Moonpig Group in the UK, and Adobe and Dollar General in the US.
Japan’s preliminary spring wage negotiation results are also awaited, scheduled for Friday, which will be key in determining the timing of the Bank of Japan’s years-long ultra-loose stimulus exit.
