Live Markets: European markets retreat, budget uncertainty hurts FTSE

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14/11/2025 09:19

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EUROPEAN MARKETS RETREAT, BUDGET UNCERTAINTY HURTS FTSE

Risk sentiment remains on shaky ground on Friday as hopes for a December rate cut from the Fed faded, while British markets slumped on reports the government is ditching plans to raise income tax.

The pan-continental STOXX 600 .STOXX is down 0.7%, although it is still up over 2% for the week. Breadth is negative, with decliners outpacing advancers by over 6 to 1.

Bourses in Frankfurt .GDAXI and Paris .FCHI are shedding 0.6% and 0.4% respectively.

British markets slightly underperform, with the FTSE 100 .FTSE and the FTSE 250 .FTMC off about 1% after the FT reported that finance minister Rachel Reeves was considering scrapping a reported hike in income tax rates.

But, losses were capped after Bloomberg reported that improved fiscal forecasts were behind the plan to drop the tax hike.

Luxury names .STXLUXP are a rare bright spot after Richemont CFR.S posted a 14% rise in organic sales in the latest quarter, exceeding analyst forecasts.

Here's your opening snapshot:

(Samuel Indyk)

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EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: FUTURES WILT, EQUITIES STILL SET FOR HEFTY WEEKLY RISE CLICK HERE

MARKETS TUMBLE AS FED CUT HANGS IN THE BALANCE CLICK HERE

US stock prices today https://www.reuters.com/graphics/MARKETS-AUTOMATED/US-PCT-CHANGE-TODAY/byprebynxve/chart.png

European shares retreat on ebbing Fed rate cut bets https://www.reuters.com/graphics/GLOBAL-STOCKS/dwpkqaezmpm/chart.png