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Smith & Nephew, speciality chemicals firm Croda International and asset manager Abrdn are among the major companies with results out today. Other developments include a potential boost for the London stock market amid reports that China e-commerce firm Shein is mulling a potential listing. ....
Barclays is to return at least £10 billion to shareholders over the next three years as part of plans unveiled by boss C.S. Venkatakrishnan today. Hotels group IHG has also reported results today, while the focus for US investors will be on the earnings of retailers The Home Depot and Walmart. ....
Retail sales figures have kept the UK economy in focus after yesterday’s knife-edge rates decision by the Bank of England. The Federal Reserve also paused this week but its hawkish tone has left Wall Street fearing a longer run of high interest rates. Elsewhere, Microsoft’s Activision deal has moved a step closer to clearance by the the UK’s Competition and Markets Authority. ....
The FTSE 100 index is within sight of its lowest close of the year after a grim week for global stock markets. London’s top flight fell again today, leaving it down by 3% since Monday as worries mount globally over higher-for-longer interest rates. Rising borrowing costs have added to pressure on the retail sector, resulting in today’s 1.2% fall in sales during washout July. ....
The struggling China economy and results from Glencore, Abrdn and hotels group IHG are in focus for London traders today. China’s imports fell 12.4% year-on-year in July, much worse than the 5% forecast amid the weakening of domestic demand. The trade figures put pressure on Glencore shares in the FTSE 100 index after the commodities giant reported lower half-year earnings. ....