Nov 19, 2021
Latest news updates: Ryanair to drop London listing citing costs after Brexit
FTSE's broad index of emerging market stocks fell 0.2 per cent in Asian trading, taking its weekly loss to 1.2 per cent. The ONS recently revealed that inflation rose to 4.2 per cent last month, up from 3.1 per cent in September and its highest level in almost a decade. China's composite CSI 300 rose 1 per cent but Hong Kong's Hang Seng index dipped 1.3 per cent. The group on Thursday reported an 81 per cent fall in net income to $833.5m in the third quarter, missing a Bloomberg consensus estimate of $3.76bn. Revenue rose 29 per cent to $31.4bn in the three months to September, compared with the same period last year, missing analysts' forecasts of $32.3bn. Chinese shoppers have become more cautious about spending, in part due to new Covid-19 outbreaks. Wall Street managed to shrug off a two-day drop for emerging market equities, which have been swept up by concerns over high global inflation, nerves about a Chinese slowdown and tighter financing conditions rippling out from the US. The FTSE emerging index, a broad barometer of developing nations' shares, fell about 0.9 per cent on Thursday in US dollar terms.
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