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FTSE 100 slips on glum earnings ahead of Jackson Hole | Malay Mail

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LONDON, Aug 27 — London’s FTSE 100 retreated today as earnings updates from firms including Rolls-Royce underlined the extent of the corporate damage from the Covid-19 pandemic ahead of the annual Jackson Hole central bankers’ conference later in the day. The blue-chip FTSE 100 fell 0.3 per...

The blue-chip FTSE 100 fell 0.3 per cent, with banks, insurers and energy stocks leading the declines. — Reuters pic

The blue-chip FTSE 100 fell 0.3 per cent, with banks, insurers and energy stocks leading the declines. All eyes are now on US Federal Reserve Chair Jerome Powell’s address at the virtual Jackson Hole Symposium, where he is expected to outline a more flexible approach to policy, including targeting an average inflation rate of around two per cent that will allow rates to stay super-low for longer.

Trillions of dollars in stimulus has sent global equity benchmarks back to their pre-pandemic highs, but the UK’s FTSE 100 is still about 21 per cent below that level as the economy struggles to recover from a record crash in the second quarter.

 

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