AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

London’s blue-chip stock index slipped on Friday and was on track for weekly losses, as investors assessed a mixed bag of corporate earnings ahead of the highly awaited first budget from the country’s new Governmentt next week.

The FTSE 100 was 0.1% down as of 0930 GMT, while the domestically focused mid-cap FTSE 250 edged up 0.1%, with both the indexes poised for weekly declines.

Medical equipments was the worst-hit sector on the day, down 2%, and even for the week.

Airtel Africa slumped 6% to its lowest level since early September, after the telecommunications services provider reported a double-digit fall in half-yearly operating profit.

On the flip side, NatWest jumped 4% to its highest levels since 2011 after raising its income forecast for 2024, boosting the banks index.

FTSE 100 dips but logs weekly gain on rate cut bets

With the budget scheduled for Oct. 30, UK’s finance minister Rachel Reeves faces a tough task to raise the tax revenues needed to invest more in public services and new infrastructure. Further, a fresh report showed Reeves was also seeking to change fiscal rules.

A survey showed British consumer confidence fell to the lowest level since March amid concerns about possible tax hikes.

Among other movers, Intertek Group lost nearly 3% after HSBC initiated coverage on the British product testing firm’s stock with a “reduce” rating.

Abrdn shares fell for the second day, down nearly 3% on Friday, after deeper-than-expected outflows of client funds in the third quarter.

Comments

200 characters