Market direction: A file picture showing traders on the floor of the New York Stock Exchange (NYSE). Investors assessed results from General Electric Co to Visa Inc as the rally that sent global stocks to an eight-month high showed further signs of losing steam. – AFP
No clear signal from earnings, pound slides after business activity contracted
LONDON: The rally that sent global stocks to an eight-month high this week showed further signs of losing steam as corporate earnings provided no clear signal on the strength of economic growth. The pound slid after business activity contracted following the Brexit vote.
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