After the Federal Reserve’s inflation warning, the FTSE 100 fell.
After the minutes of the US Federal Reserve meeting in July suggested that additional interest rate increases may be necessary, the negative trend for global markets this week has continued.
The hawkish message from policymakers was that more action may be needed due to the strong upside risks to inflation, contrary to what traders had assumed would be the case with last month’s 0.25% increase to a range of 5.25%-5.5%.
The minutes caused US markets to decline, resulting in a 0.8% decline in the S&P 500 index and a 0.5% down in the Dow Jones Industrial Average.
After the Hang Seng index dropped by about 1%, the tech-focused Nasdaq Composite fell 1.1%, and the selling persisted during Asia trading hours.
The FTSE 100 index dropped 0.4% yesterday and is expected to open 37 points lower at 7320, marking its largest weekly loss in over a month.
Ball Aerospace will be purchased by BAE Systems for $5.6 billion.
In a $5.6 billion deal, defense major BAE Systems will purchase US manufacturer Ball Aerospace from the Ball Corporation.
According to BAE, a combination of fresh external loans and already available financial resources would be used to pay for the acquisition.
Ball Aerospace, based in Colorado, creates spacecraft and military systems for governments around the world. More than 5,200 people work for the company, and more than 60% of them have US security clearances.
CEO Charles Woodburn stated: “The strategic and financial rationale is compelling, as we continue to focus on areas of high priority defence and intelligence spending, strengthening our world-class multi-domain portfolio and enhancing our value compounding model of top line growth, margin expansion, and high cash generation.”
Business News
TDPel Media
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