AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- FTSE100 trades lower after the UK government announced a 1.25% tax hike on shareholders profits.
- The new tax hike is expected to contribute £36 billion towards the social and NHS over the next three years.
FTSE100 traded modestly in the negative zone, down by 0.18% at 7,174 in the afternoon trades, while the mid-cap focused FTSE 250 index trades at 24,177, down by 0.29%. The UK government today announced a tax hike of 1.25% on shareholders profits along with a rise of 1.25% increases in the National Insurance contributions. The new tax hike is expected to contribute £36 billion towards the social and National Health Service (NHS) over the next three years and will be effective from April 2022.
Top five FTSE100 gainers
Smith (DS) (2.78%), Whitbread plc (2.64%), Anglo American (1.77%), Burberry Group plc (1.55%), Rio Tinto plc (1.12%).
Top five FTSE100 losers
Berkeley Group Holdings plc (-2.26%), Smiths Group Plc (-2.23%), Ocado Group plc (-2.11%), B&M European Value Retail SA (-2.07%), AstraZeneca plc (-1.89%).
European Markets
Major European market indexes are trading in the red. The German blue-chip DAX index is down by 0.44% at 15,861, while the benchmark index of France, CAC 40, was at 6,729, down by 0.21%. European markets trade lower, witnessing some profit booking after yesterday’s positive close. Also, investors are cautious ahead of the European Central Bank’s (ECB) policy meeting.
Currency Markets
The pound continues to trade lower against the dollar at 1.3796, down by 0.26% for the second consecutive trading day, while the EUR/ GBP currency pair traded at 0.8596, up by 0.23%. The US dollar continues to gain against the major European currencies and has managed to cover last week losses following weaker US job data.
Commodities
WTI crude oil future contract traded at USD 68.75, down by 0.78%, while the Brent crude oil trades at USD 72.17, down by 0.06%. Crude oil prices are trading lower as investors fear slower demand for crude oil after a sharp cut in crude oil contract prices by Saudi Arabia in the Asian market.
Meanwhile, the Gold futures contract also continue to trade in the red, down by 1.20% at USD 1811 per ounce.
Asian Markets
Major Asia Pacific indexes closed in the green. Australia’s ASX200 closed at 7,530, up by 0.02%, while the Nikkei 225 of Japan closed at 29,916, up by 0.86%. Shanghai Composite of China closed at 3,676, up by 1.51%, Hong Kong’s Hang Seng index closed at 26,353, up by 0.73%.
