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Britain's FTSE Falls as Fed officials warn about stimulus
by Cals Wed 05 Jun 2013, 16:10
Britain's FTSE Falls as Fed officials warn about stimulus
Business & Markets 2013
Written by Reuters
Wednesday, 05 June 2013 15:50
A + / A - / Reset
LONDON (June 5): Britain's top share index retreated on Wednesday as comments from U.S. Federal Reserve officials reignited talk the bank's monetary stimulus may be reduced and supermarket giant Tesco fell after weak results.
Dallas Fed President Richard Fisher said there must be a practical limit to the Fed's balance sheet while Kansas City Fed President Esther George said slowing the pace of bond buying would help wean financial markets off dependence on ultra-easy money.
The FTSE 100, which has rallied around 25 percent in the past year largely thanks to central bank stimulus, was down 43.42 points, or 0.7 percent, at 6,515.16 points at 0710 GMT.
Tesco was among top fallers, shedding 1.8 percent as it reported a 1 percent underlying sales fall in the UK in the first quarter, equal to the lower end of analysts' expectations and raising doubts about a costly recovery plan. - Reuters
Business & Markets 2013
Written by Reuters
Wednesday, 05 June 2013 15:50
A + / A - / Reset
LONDON (June 5): Britain's top share index retreated on Wednesday as comments from U.S. Federal Reserve officials reignited talk the bank's monetary stimulus may be reduced and supermarket giant Tesco fell after weak results.
Dallas Fed President Richard Fisher said there must be a practical limit to the Fed's balance sheet while Kansas City Fed President Esther George said slowing the pace of bond buying would help wean financial markets off dependence on ultra-easy money.
The FTSE 100, which has rallied around 25 percent in the past year largely thanks to central bank stimulus, was down 43.42 points, or 0.7 percent, at 6,515.16 points at 0710 GMT.
Tesco was among top fallers, shedding 1.8 percent as it reported a 1 percent underlying sales fall in the UK in the first quarter, equal to the lower end of analysts' expectations and raising doubts about a costly recovery plan. - Reuters
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