FTSE 100 Live: London markets flat as Vodafone unveils bumper cash return
The daily London market update: Market moving news from the FTSE 100 and around the world from City A.M.
The latest updates on the FTSE 100 and London’s financial markets from City A.M.’s newsroom in the heart of the City of London.
Asian markets mirrored Wall Street’s tech-led decline. Hong Kong’s Hang Seng and South Korea’s Kospi dropped significantly. Central bank decisions affected Mainland Chinese blue chips CSI300 and Japan’s Nikkei 225.
Foxconn’s stocks surged by nine per cent, while Adobe shares plummeted by 10 per cent. Nvidia declined by 3.2 per cent.
Bitcoin fell by 4.51 per cent. Oil prices dropped due to profit-taking.
Chinese home prices fell in February, marking a continued property market downturn. The central bank maintained key rates unchanged, aiming for currency stability amidst uncertainties.
Japan’s largest union coalition anticipates over a 4 per cent wage increase, which could influence central bank policies. The Rengo union group is expected to reveal the outcomes around 0715 GMT on Friday.
Investors will be watching the US Industrial Production figures and the preliminary Michigan Consumer Sentiment data on Friday ahead of the Federal Open Market Committee (FOMC) meeting next week.