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European equities mixed after sharp forecast for Bank of England



European equities were mixed on Thursday after the Bank of England predicted that the UK economy would suffer its biggest decline in a century this year.

Although the bank maintained both its reference rate and the size of its bond buying program, it warned that UK economic output would shrink by 9.5% this year and remain below its pandemic levels until the end of 2021.

^ STOXX) rose by around 0.3%, while London’s FTSE 100 (^ FTSE) was 0.6% in red. “data-reactid =” 25 “> The pan-European STOXX 600 index (^ STOXX) rose by about 0.3%, while London’s FTSE 100 (^ FTSE) was 0.6% in red.

GLEN.L) and ITV (ITV.L). “data-reactid =” 26 “> Shares in the UK received a second blow from a series of weak corporate results, including from Glencore (GLEN.L) and ITV (ITV.L).

The UK economy has the largest annual downturn in 100 years“data-reactid =” 31 “>READ MORE: The UK economy has the largest annual downturn in 100 years

^ GDAXI) climbed by around 0.9%, while France’s CAC 40 (^ FCHI) increased by more than 0.4%. The stock rose about 0.1% on Italy’s FTSE MIB (FTSEMIB.MI), but fell marginally on Spain’s IBEX (^ IBEX). “data-reactid =” 32 “> Germany’s DAX (^ GDAXI) rose by about 0.9%, while France’s CAC 40 (^ FCHI) rose by more than 0.4%. The stock rose by about 0.1% on Italy’s FTSE MIB (FTSEMIB .MI), but fell marginally on Spain’s IBEX (^ IBEX).

“It was a tough morning for the FTSE 100, handling blows from the Bank of England and some of Thursday’s reporting companies,” said Connor Campbell, financial analyst at trading platform Spreadex.

“Keeping interest rates at a record low of 0.1%, the Andrew Bailey-led central bank warned that the UK economy shrank by 20% in the second quarter,” he said.

Shares in Asia had a similar mixed trading session.

Wetherspoon will ax up to 130 head office jobs in the middle of the trade“data-reactid =” 36 “>READ MORE: Wetherspoon will ax up to 130 head office jobs in the middle of the trade

^ SSEC) rose 0.26% on Thursday while Hang Seng (^ HSI) closed more than 0.8% in red in Hong Kong. “data-reactid =” 37 “> Shanghai’s SSE Composite Index (^ SSEC) rose 0.26% on Thursday, while Hang Seng (^ HSI) closed more than 0.8% in red in Hong Kong.

^ N225) fell by 0.4% while the KOSPI Composite Index (^ KOSPI) in South Korea increased by about 1.3%. Australian ASX 200 (^ AXJO) increased by almost 0.7%. “data-reactid =” 38 “> Japan’s Nikkei (^ N225) fell by 0.4%, while the KOSPI Composite Index (^ KOSPI) in South Korea rose by about 1.3%. Australia’s ASX 200 (^ AXJO) rose by almost 0.7%.

Futures pointed to a higher open for equities in the US, even when a dispute over funding for the US postal service raised the possibility of further delays for legislators who agreed on new stimulus measures.

ES = F) increased by about 0.3%. Dow Jones Industrial Average Futures (YM = F) climbed by 0.4%. Nasdaq futures (NQ = F), increased over time by about 0.25%. “data-reactid =” 40 “> Futures on the S&P 500 (ES = F) rose by about 0.3%. Dow Jones Industrial Average Futures (YM = F) rose by 0.4%. Nasdaq futures (NQ = F ) increased over time by about 0.25%.


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