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London stocks end lower as weak earnings weigh | Malay Mail

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LONDON, Aug 28 ― London stocks ended yesterday on the back foot as earning updates from firms like Rolls-Royce underlined the extent of corporate damage inflicted by the coronavirus pandemic, while Federal Reserve Chief Jerome Powell's speech brought few surprises. The blue-chip FTSE 100 fell 0.8...

The blue-chip FTSE 100 fell 0.8 per cent, with banks , mining companies and energy stocks leading the declines. — Reuters pic

The blue-chip FTSE 100 fell 0.8 per cent, with banks , mining companies and energy stocks leading the declines. The Fed rolled out an aggressive new strategy to restore the United States to full employment and lift inflation back to healthier levels in a world where weak inflation, low interest rates, and slow growth appear here to stay.

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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