Shares of London-listed challenger bank Metro Bank PLC
plunged 28% on Wednesday, following poor fourth-quarter earnings, while continued uncertainty over global trade weighed on the broader U.K. markets.
What are markets doing?
What’s driving the market?
A combination of the lower global growth forecasts from the International Monetary Fund on Monday and a fresh set of economic data from China earlier this week, continued to weigh on U.K. investor market sentiment this week.
In Brexit news, George Osborne, the former U.K. Chancellor who campaigned for the country to remain part of the European Union, thinks that a delay to Brexit is the most likely outcome from weeks of political deadlock.
Meanwhile, Britain’s opposition Labour Party is reportedly likely to back an amendment that could prevent a no-deal Brexit, shadow chancellor John McDonnell told the BBC.
In the U.S., optimism over a potential trade truce between the U.S. and China dissolved on Tuesday evening, after reports emerged that White House officials had canceled a planned trade meeting with China.
What stock are active?
Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.
Source : MTV