FTSE 100 Ends Lower As The BREXIT Concerns Market

FTSE-100-Ends-Lower-As-The-BREXIT-Concerns-Market

On Wednesday, the UK market index, FTSE 100, plunged 0.03%, primarily due to the BREXIT disorder tensions amid investors. UK mid-cap, FTSE 250, also declined 0.2%, with the insurance and banking sector losing the most.

Meanwhile, the UK e-commerce venture, Hut Group, advanced more than whopping 30% on its first trading day, marking the broadest UK IPO (Initial Public Offering) after 2013. Galliford Try Holdings, the English construction company, added around 9.8% after reporting the predictions of profits next financial year as output heads to a normal level and on-site construction resumes.

Britain real estate firm, Redrow, plunged 1.9% after posting a fall in annual earnings, but still hopes to renew dividend payments in 2021 as it focuses now on Heritage Collection Homes more and stops investments in London.

The fall is primarily due to fears rising among traders for a no-deal Brexit, as British PM Borris Johnson mulling over breaking the divorce treaty with the EU. The breach, if happens, will blow the UK domestic economy, which is already struggling hard to recover from coronavirus pandemic, with another fallout tension.

Traders and investors have now all hopes from the Bank of England, which has a policy meeting scheduled on Thursday, regarding more stimulus package for the nation.

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