BUSINESS CLOSE: FTSE 100 Falls Sharply

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The FTSE 100 index fell sharply earlier today amid renewed concerns over the Delta variant of Covid-19 and the latest US Federal Reserve minutes revealing that easing of stimulus measures is getting nearer. 
The blue-chip index closed down 1.54 per cent or 110.46 points to 7,058.86, and the FTSE 250 index finished down 0.96 per cent or 229.50 points to 23,606.87. 
Earlier, the FTSE 100 index was down over 2 per cent, with around £50billion wiped off its value. 
Department store chain John Lewis is partnering with digital wealth manager Nutmeg to launch new savings accounts for customers today amid a diversification push away from retail. 
Casino and bingo hall owner Rank Group has revealed its revenues were slashed by almost half to £329.6million over the past year after it was hammered by the lockdown-enforced closure of venues. 
Inventor Sir James Dyson has warned that the 'chances of the next generation will suffer' if British workers do not return to the office, and said that flexible working on a long-term basis risks creating a 'two-tier workforce.' 




website store chain John Lewis is partnering with digital wealth manager Nutmeg to launch new savings accounts for customers today amid a diversification push away from retail. Casino and bingo hall owner Rank Group has revealed its revenues were slashed by almost half to £329.6million over the past year after it was hammered by the lockdown-enforced closure of venues.","headline":"BUSINESS LIVE: John Lewis launching savings accounts; Rank's revenues nearly halve; Dyson calls for return...website website 100 closed down 1.54% or 110.46 points to 7,058.website the FTSE 250 index closed down 0.96 per cent or 229.50 points to 23,606.87.","author":"@type":"Person","name":"Jane website tantrum or Covid crisis for website Hewson, an analyst at AJ Bell, said: 'Is today’s market slump just one of those things or the start of a more protracted sell-off?
'It’s hard to judge whilst we are still in the midst of silly season and many experienced investors have still got the out of office button pushed to on, but London’s numbers have looked rather grim.
'Billions of pounds have been wiped off its blue-chip index and the FTSE 250 has also taken quite a beating. The why of it is multi-faceted, and much has been made of news that the Fed may be on the brink of tapering its economic support but looking at the difference between US and UK markets it seems COVID is the overwhelming issue of the day. 
'Commodities, energy producers and luxury goods makers are all amongst the biggest fallers as investors consider that global recovery may have shifted down another gear.
'They’re also wondering how things will play out closer to home and that’s resulted in a knock-on for some consumer facing stocks like shopping centre owner Hammerson and Wagamama parent The Restaurant Group.
'Every step of the way confidence has been key, and uncertainty has unsettled today, particularly with several UK businesses pointing to concerns about rising prices in their earnings outlook.
'Over on Wall Street things are not quite as gloomy and in fact early losses have for the most part been made up, thanks primarily to those resilient tech stocks and the Dow hasn’t been quite as successful at throwing off the gloom.
'Despite shipping snarl ups and the ongoing concern about those chip shortages there has been enough economic sweeties around to keep the sour at bay.
'The latest jobs figures show new jobless claims have fallen to a new pandemic low and the fact that stimulus might soon be slowed is being viewed in some quarters as a mark of a robust economy and one ready to walk without the Fed’s crutch.'","author":"@type":"Person","name":"Jane website Lloyds has target to buy 50,000 properties by website Banking Group, the UK's biggest mortgage lender, is aiming to buy 50,000 homes by the end of the decade, the Financial Times has reported.
The banking giant launched Citra Living last month to try and satisfy the growing demand for private rental housing across the country, but the FT also believes the move is motivated by a need to diversify its sources of income. ","author":"@type":"Person","name":"Harry website Footsie closes website before close, the FTSE 100 was down 1.5% to 7,060.62
Meanwhile, the FTSE 250 was down by 0.83% to 23,638.01.","author":"@type":"Person","name":"Harry website Netflix employees charged in $3million insider trading website former Netflix employees and two others have been hit with insider trading charges, accusing them of profiting off of confidential data on subscriber growth at the streaming giant as part of a multimillion-dollar scheme.
The Securities and Exchange Commission said the group generated $3.1million in total earnings by trading on the insider information from three former Netflix software engineers.","author":"@type":"Person","name":"Harry website plans to open 30,000-square-foot department stores in the website conquering online retail and beating even Walmart in sales, Amazon is now looking to expand into the industry it notoriously disrupted, brick-and-mortar retail stores. 
Amazon plans to open several 30,000-square-foot stores across the US to further its reach in sales of clothing, household items, electronics and other home goods, sources say. ","author":"@type":"Person","name":"Harry website the state pension triple lock earnings link would be website is disappointing to read that the Chancellor plans to abandon the triple lock protection for state pensions and remove the part of it related to average earnings. 
Pensioners are not all wealthy, and millions have to live on the state pension which is the lowest in the developed world.","author":"@type":"Person","name":"Harry website jobless claims fall to another pandemic website number of Americans claiming unemployment benefits declined by 29,000 to 348,000 last week, a new pandemic low.
The figures showed are the latest sign that America's job market is rebounding from the pandemic recession as employers boost hiring to meet a surge in consumer demand.","author":"@type":"Person","name":"Harry website been a very strange start to trading on website Erlam, Senior Market Analyst at OANDA Europe, comments on the markets today:
It's been a very strange start to trading on Thursday, with stock markets suffering heavy losses as the rotation into safety gathers significant pace following the release of the Fed minutes.
It's easy to point to the Fed minutes as the cause of the sell-off but what did we actually learn from the minutes that we didn't already know? In fact, we've heard from a lot of policy makers from across the spectrum since and they've arguably become more hawkish on the timing of tapering, thanks in large part to July's knockout jobs report.
So is this really a mini-taper tantrum, of sorts, or a combination of factors at a time when stocks have been trading around record highs and we're in wait-and-see mode ahead of next weeks Jackson Hole event? This isn't the busiest period of the year and maybe investors are seizing the opportunity to lock in some profits and wait for another dip.","author":"@type":"Person","name":"Harry website 100 currently down 1.97% or 141.45 points to 7,027.website the FTSE 250 index is down 0.89 per cent or 212.55 points to 23,623.82. 
Sterling is at $1.37 against the US dollar.","author":"@type":"Person","name":"Jane website Group sees revenues plummet following venue website revenues at Rank Group plunged by £300million over the last year after venue closures and other tough trading restrictions heavily impacted the entertainment industry.
The Mecca Bingo owner saw its net gaming revenues fall by almost half to £329.6million in the year to June 30 as it was forced to shut all its outlets for a majority of working days during the period.","author":"@type":"Person","name":"Harry website stock markets plummet and FTSE 100 falls website on the London Stock Exchange took a hammering today amid concerns that global growth is slowing, the Delta variant of Covid-19 is spreading and central banks will pull monetary stimulus sooner than expected.
In late morning London trading, the FTSE 100 index was down 2.1 per cent or 152.9 points to 7,016.4. The FTSE 250 index, which is more UK-focussed, was down 1.1 per cent or 269.5 points to 23,566.9. ","author":"@type":"Person","name":"Harry website the Government give homeowners cash to make properties website firms from the banking, energy and housing industries have told the Government they must offer homeowners cash grants to make their properties greener.
If it does not, the companies said the UK would risk missing its target to reach net zero carbon by 2050.","author":"@type":"Person","name":"Harry website or hold? How to stress test your shares website goes without saying that keeping tabs on your holdings is a key part of both short and long-term investing.
Periodic reviews and stress tests of holdings help to not only ensure that you have the best possible assets within your portfolio, but also mean that overall portfolio and holding risk are being effectively managed.","author":"@type":"Person","name":"Harry website - Lloyds aims to be the UK's biggest private landlord by website Banking Group is planning to become one of the UK's biggest landlords, according to reports.
The banking giant is aiming to buy 50,000 homes in the next 10 years and charge tenants rent as a private landlord. According to the Financial Times, Lloyds has launched the Citra Living brand in an attempt to move into new streams of making money.
Lloyds is the biggest mortgage lender in the UK, providing nearly one in four home loans, but, with interest rates at historic lows for more than a decade, returns have been squeezed. The new plans were first announced a month ago and will be managed through new brand Citra Living, according to the FT.
The paper said an internal job advertisement has set a \"strategic challenge\" of reaching 10,000 properties by the end of 2025, with a further aim to hit 50,000 by 2030. Based on current property prices and rental estimates, this would create a portfolio worth £4 billion, generating pre-tax profits of around £300 million.","author":"@type":"Person","name":"Harry website records higher revenues but cuts production website group Antofagasta published its half-year results this morning, which showed revenues climbing by over two-thirds thanks to higher copper prices. However, the company cut its production guidance due to a water shortage in Chile.
AJ Bell investment director Russ Mould comments: In historical terms, and notwithstanding some recent volatility, copper demand is high and so are prices. That’s the good news for miner Antofagasta and helps explain the company’s record first half earnings.
The bad news is that one of the reasons for this strength is adverse environmental conditions in Chile – the world’s top producer of the metal and Antofagasta’s main base of operations.
This is what lies behind Antofagasta’s production downgrade today and the fear for the market will be the situation could get worse given the unpredictability surrounding what will happen next amid 12 years of drought like conditions in Chile.
More encouragingly for the long term is that a robust appetite for copper is also a key reason for the metal’s strength.
Because copper is central to the production of renewables and electric vehicle kit and infrastructure, the anticipated growth in these areas, as countries look to reduce their emissions, is underpinning optimistic demand forecasts over the coming decades.","author":"@type":"Person","name":"Harry website companies dominate FTSE 350 website American shares have declined by more than 10 per cent this morning, whilst Rio Tinto and Antofagasta are also among the top ten fallers.","author":"@type":"Person","name":"Harry website 16 FTSE 350 firms have seen their share rise this website website 100 down 2.04% or 146.31 points to 7,023.website the FTSE 250 index is down 1.12 per cent or 266.68 points to 23,569.69.","author":"@type":"Person","name":"Jane website Street ditches commitment to pensions triple website Street yesterday dropped its commitment to the pensions triple lock, in the strongest sign yet that the Tory manifesto pledge is about to be broken.
No 10 recently insisted it remained official policy amid fears that soaring earnings growth would trigger a record hike in the payment.","author":"@type":"Person","name":"Harry website shortage hits PUBS: Suppliers warn UK boozers now face website will start running out of chicken because of staff shortages at suppliers and the 'pingdemic', experts have warned.
The British Poultry Council said it had seen production slashed by up to 10 per cent among its members due to issues at farms and processing plants.","author":"@type":"Person","name":"Harry website Lewis launches new Isa accounts for kids and website Lewis is now new savings and investing accounts for customers amid a major diversification push away from retail.
The department store chain's Individual Savings Accounts for adults and children have launched today via a collaboration with digital wealth manager Nutmeg.","author":"@type":"Person","name":"Harry website SUNDERLAND: Keep your nerve, website Secretary Kwasi Kwarteng has done the right thing by throwing sand in the wheels of predatory US private equity house Advent. 
The firm and its managing director, Shonnel Malani, who wants to grab large tracts of the UK defence industry, may have thought they would enjoy an easy ride with their plan to swallow Ultra Electronics. Who could blame them? ","author":"@type":"Person","name":"Harry website The drug chiefs topping the pay website cat pay at blue-chip firms fell last year amid pandemic belt-tightening – but bosses still bagged millions. The typical FTSE 100 chief executive received £2.7m in 2020, according to new research. 
That was down from £3.3m the previous year and came as many companies scrambled to cut costs in the face of the coronavirus crisis.","author":"@type":"Person","name":"Harry website FTSE 100 index opened at 7169.website pound at 8am was 1.3710 dollars compared to 1.3750 dollars at the previous close.","author":"@type":"Person","name":"Harry website






Jane Denton

Host commentator




Harry Wise

Host commentator



















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16:55


FTSE 100 closed down 1.54% or 110.46 points to 7,058.86



And the FTSE 250 index closed down 0.96 per cent or 229.50 points to 23,606.87.












16:36


Temper tantrum or Covid crisis for markets?



Danni Hewson, an analyst at AJ Bell, said: 'Is today’s market slump just one of those things or the start of a more protracted sell-off?


'It’s hard to judge whilst we are still in the midst of silly season and many experienced investors have still got the out of office button pushed to on, but London’s numbers have looked rather grim.


'Billions of pounds have been wiped off its blue-chip index and the FTSE 250 has also taken quite a beating. The why of it is multi-faceted, and much has been made of news that the Fed may be on the brink of tapering its economic support but looking at the difference between US and UK markets it seems COVID is the overwhelming issue of the day. 

'Commodities, energy producers and luxury goods makers are all amongst the biggest fallers as investors consider that global recovery may have shifted down another gear.

'They’re also wondering how things will play out closer to home and that’s resulted in a knock-on for some consumer facing stocks like shopping centre owner Hammerson and Wagamama parent The Restaurant Group.

'Every step of the way confidence has been key, and uncertainty has unsettled today, particularly with several UK businesses pointing to concerns about rising prices in their earnings outlook.

'Over on Wall Street things are not quite as gloomy and in fact early losses have for the most part been made up, thanks primarily to those resilient tech stocks and the Dow hasn’t been quite as successful at throwing off the gloom.

'Despite shipping snarl ups and the ongoing concern about those chip shortages there has been enough economic sweeties around to keep the sour at bay.

'The latest jobs figures show new jobless claims have fallen to a new pandemic low and the fact that stimulus might soon be slowed is being viewed in some quarters as a mark of a robust economy and one ready to walk without the Fed’s crutch.'












16:32


FT: Lloyds has target to buy 50,000 properties by 2030


Lloyds Banking Group, the UK's biggest mortgage lender, is aiming to buy 50,000 homes by the end of the decade, the Financial Times has reported.

The banking giant launched Citra Living last month to try and satisfy the growing demand for private rental housing across the country, but the FT also believes the move is motivated by a need to diversify its source


The newspaper said it had seen an internal job advertisement from Lloyds' private rental business, known as Citra Living, outlining some long-ter













16:22


The Footsie closes soon



Just before close, the FTSE 100 was down 1.5% to 7,060.62


Meanwhile, the FTSE 250 was down by 0.83% to 23,638.01.












16:17


Three Netflix employees charged in $3million insider trading scheme


Three former Netflix employees and two others have been hit with insider trading charges, accusing them of profiting off of confidential data on subscriber growth at the streaming giant as part of a multimillion-dollar scheme.

The Securities and Exchange Commission said the group generated $3.1million in total earnings by trading on the insider information from three fo


Former Netflix employees Sung Mo 'Jay' Jun, Ayden Lee and Jae Hyeon Bae have been charged with insider trading along with two close associates. They are accused of generating $3.1million in













15:25


Amazon plans to open 30,000-square-foot department stores in the US


After conquering online retail and beating even in sales, Amazon is now looking to expand into the industry it notoriously disrupted, brick-and-mortar retail stores. 

Amazon plans to open several 30,000-square-foot stores across the US to further its reach in sales of clothing, household items, electronics and othe


Amazon plans to open the first stores in Ohio and California to further its reach in sales of clothing, household items, electronics. It plans to open other stores across













14:41


Abandoning the state pension triple lock earnings link would be unwise


It is disappointing to read that the Chancellor plans to abandon the triple lock protection for state pensions and remove the part of it related to average earnings. 

Pensioners are not all wealthy, and millions have to live on the state pension which is


Even after years of the triple lock, for both younger and older pensioners the state pension is still lower than in 1979 relative to earnings, says R













14:16


US jobless claims fall to another pandemic low


The number of Americans claiming unemployment benefits declined by 29,000 to 348,000 last week, a new pandemic low.

The figures showed are the latest sign that America's job market is rebounding from the pandemic recession as employers boost hiring to meet a surge in consumer demand.












13:42


'It's been a very strange start to trading on Thursday'



Craig Erlam, Senior Market Analyst at OANDA Europe, comments on the markets today:


It's been a very strange start to trading on Thursday, with stock markets suffering heavy losses as the rotation into safety gathers significant pace following the release of the Fed minutes.


It's easy to point to the Fed minutes as the cause of the sell-off but what did we actually learn from the minutes that we didn't already know? In fact, we've heard from a lot of policy makers from across the spectrum since and they've arguably become more hawkish on the timing of tapering, thanks in large part to July's knockout jobs report.


So is this really a mini-taper tantrum, of sorts, or a combination of factors at a time when stocks have been trading around record highs and we're in wait-and-see mode ahead of next weeks Jackson Hole event? This isn't the busiest period of the year and maybe investors are seizing the opportunity to lock in some profits and wait for another dip.












13:18


FTSE 100 currently down 1.97% or 141.45 points to 7,027.87



And the FTSE 250 index is down 0.89 per cent or 212.55 points to 23,623.82. 


Sterling is at $1.37 against the US dollar.












12:48


Rank Group sees revenues plummet following venue closures


Gaming revenues at Rank Group plunged by £300million over the last year after venue closures and other tough trading restrictions heavily impacted the entertainment industry.

The Mecca Bingo owner saw its net gaming revenues fall by almost half to £329.6million in the year to June 30 as it was forced to shut all its outlets for a majority of working d


The Mecca Bingo owner saw its net gaming revenues fall by almost half to £329.6million in the year to June 30 as it was forced to shut all its outlets for a majority of working days during t













12:35


Global stock [https://www.tumblr.com/search/markets%20plummet markets plummet
and FTSE 100 falls sharply


Shares on the London Stock Exchange took a hammering today amid concerns that global growth is slowing, the Delta variant of Covid-19 is spreading and central banks will pull monetary stimulus sooner than expected.

In late morning London trading, the FTSE 100 index was down 2.1 per cent or 152.9 points to 7,016.4. The FTSE 250 index, which is more UK-focussed, was down 1.1 per cent or 269.5 points to&


In late morning London trade, the FTSE 100 index was down 2.13% or 152.94 points to 7,016.38. The FTSE 250 index, which is more UK-focussed, was down 1.13% to 













12:02


Will the Government give homeowners cash to make properties greener?


Major firms from the banking, energy and housing industries have told the Government they must offer homeowners cash grants to make their properties greener.

If it does not, the companies said the UK would risk missing its target


The organisations called for a 'national retrofit strategy' which would not only provide financial support to homeowners but also train tradespeople to make home













11:51


Sell or hold? How to stress test your shares portfolio


It goes without saying that keeping tabs on your holdings is a key part of both short and long-term investing.

Periodic reviews and stress tests of holdings help to not only ensure that you have the best possible assets within your portfolio, but also mean that overall portfolio and holding risk are being e


One of the best ways to stress test a portfolio is to look at its share price and business performance relative to its benchmark or sector in difficult times, says Ben Staniforth of Redmayn













11:05


(PA) - Lloyds aims to be the UK's biggest private landlord by 2025



Lloyds Banking Group is planning to become one of the UK's biggest landlords, according to reports.


The banking giant is aiming to buy 50,000 homes in the next 10 years and charge tenants rent as a private landlord. According to the Financial Times, Lloyds has launched the Citra Living brand in an attempt to move into new streams of making money.


Lloyds is the biggest mortgage lender in the UK, providing nearly one in four home loans, but, with interest rates at historic lows for more than a decade, returns have been squeezed. The new plans were first announced a month ago and will be managed through new brand Citra Living, according to the FT.


The paper said an internal job advertisement has set a "strategic challenge" of reaching 10,000 properties by the end of 2025, with a further aim to hit 50,000 by 2030. Based on current property prices and rental estimates, this would create a portfolio worth £4 billion, generating pre-tax profits of around £300 million.












09:58


Antofagasta records higher revenues but cuts production guidance



Mining group Antofagasta published its half-year results this morning, which showed revenues climbing by over two-thirds thanks to higher copper prices. However, the company cut its production guidance due to a water shortage in Chile.


AJ Bell investment director Russ Mould comments: In historical terms, and notwithstanding some recent volatility, copper demand is high and so are prices. That’s the good news for miner Antofagasta and helps explain the company’s record first half earnings.


The bad news is that one of the reasons for this strength is adverse environmental conditions in Chile – the world’s top producer of the metal and Antofagasta’s main base of operations.


This is what lies behind Antofagasta’s production downgrade today and the fear for the market will be the situation could get worse given the unpredictability surrounding what will happen next amid 12 years of drought like conditions in Chile.


More encouragingly for the long term is that a robust appetite for copper is also a key reason for the metal’s strength.


Because copper is central to the production of renewables and electric vehicle kit and infrastructure, the anticipated growth in these areas, as countries look to reduce their emissions, is underpinning optimistic demand forecasts over the coming decades.












09:30


Mining companies dominate FTSE 350 fallers



Anglo American shares have declined by more than 10 per cent this morning, whilst Rio Tinto and Antofagasta are also among the top ten fallers.














09:29


Only 16 FTSE 350 firms have seen their share rise this morning
















09:19


FTSE 100 down 2.04% or 146.31 points to 7,023.01



And the FTSE 250 index is down 1.12 per cent or 266.68 points to 23,569.69.












09:06


Downing Street ditches commitment to pensions triple lock


 yesterday dropped its commitment to the pensions triple lock, in the strongest sign yet that the Tory manifesto pledge is about to be broken.

No 10 recently insisted it remained official policy amid fears that soaring earnings growth would trigger a recor


The Prime Minister's official spokesman refused to say if he would still guarantee an annual rise by the highest of either wage growth, inflation or 2.5 p













08:44


Chicken shortage hits PUBS: Suppliers warn UK boozers now face crisis


Pubs will start running out of chicken because of staff shortages at suppliers and the 'pingdemic', experts have warned.

The British Poultry Council said it had seen production slashed by up to 10 per cent among its members due to issu


The British Poultry Council said production slashed by up to 10 per cent among its members due to issues at farms and processing plants. Pictured: Nandos sh













08:33


John Lewis launches new Isa accounts for kids and adults


John Lewis is now new savings and investing accounts for customers amid a major diversification push away from retail.

The department store chain's Individual Savings Accounts for adults and children have launched today via a collaboration with digital w


Customers can invest as little as £100 for a Junior ISA, and £500 for a general investment account or stocks and s













08:20


RUTH SUNDERLAND: Keep your nerve, Kwasi


Business Secretary Kwasi Kwarteng has done the right thing by throwing sand in the wheels of predatory US private equity house Advent. 

The firm and its managing director, Shonnel Malani, who wants to grab large tracts of the UK defence industry, may have thought they would enjoy an easy ride with their plan to swallow Ultra Electronics. Who could blame them?&n


Business Secretary Kwasi Kwarteng has done the right thing by throwing sand in the wheels of predatory US private equity hou













08:15


Revealed: The drug chiefs topping the pay charts


Fat cat pay at blue-chip firms fell last year amid pandemic belt-tightening – but bosses still bagged millions. The typical FTSE 100 chief executive received £2.7m in 2020, according to new research. 

That was down from £3.3m the previous year and came as many companies scrambled to cut costs in the face of the corona


Emma Walmsley, boss of British drugs giant Glaxosmithkline, was the FTSE 100's best-paid female chief executive last year. The 52-year-old's £7m package included a £1.













08:10


The FTSE 100 index opened at 7169.32



The pound at 8am was 1.3710 dollars compared to 1.3750 dollars at the previous close.














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