Wall Street is lower after more poor data from the US today, while in London the FTSE 100’s day has been hit by a fine for Reckitt Benckiser, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Wall Street is lower after more poor data from the US today, while in London the FTSE 100’s day has been hit by a fine for Reckitt Benckiser, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stocks in gloomy mood to finish off the week “US consumer sentiment is weakening as gas prices rise, the Empire State index fell sharply, and this week’s inflation readings have come in hotter than expected. This isn’t the kind of cheery picture that can prop up equity markets looking desperately for a new catalyst to drive a new phase in this rally. Aside from the Russell 2000, US markets are broadly lower, and with the Fed meeting now in everyone’s sights we could see this extend into the first part of next week at least.” FTSE 100 slips as Reckitt Benckiser slumps “The FTSE 100 is ending the session on a quiet note, after moving higher earlier today. Reckitt Benckiser shares were delivered a late blow this afternoon on news it will have to pay a fine in a US baby formula case. The share price slumped to a ten-year low, and the outsize reaction to the fine seems to suggest more litigation could be on the way.”
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