UK stocks slide as banks sink, U.S. payrolls awaited

  • 📰 Reuters
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

London's blue-chip FTSE 100 index fell on Friday as UK lenders dropped 4.6% in a global banking sector selloff, while uncertainty around central banks' moves added to the nerves ahead of U.S. payrolls data.

Across the Atlantic, U.S. non-farm payrolls data, due at 1330 GMT, is expected to show a rise of 205,000 and any surprise to the upside is seen strengthening bets for continued aggressive interest rate hikes.

The FTSE 100 is set to the end the week down about 2.8% in what could be its worst week since September, as worries around hawkish central banks sapped risk appetite."We see a lower likelihood of major tax or spending measures next week. More significant fiscal pledges are likely to be reserved for the next Autumn Statement or the Conservatives' next election manifesto," said economists at Goldman Sachs.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

This does not look good.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines