Netflix stock price falls 5% on Tuesday. Why? Read the news.
British stocks struggle as M&S, Pearson dip
On Tuesday, blue chip shares in Great Britain struggled, with Pearson PLC stocks swinging steeply lower on the eve of a $1 billion stake-selling deal. Meanwhile, Marks & Spencer Group PLC stocks sagged after the department-store operator released a trading update.
The FTSE 100 index UKX decreased 0.7% being worth 7,317.26, while only the basic materials group managed to gain. On Monday, the index tacked on 0.3%.
Pearson PLC PSON stocks lost 6.2%, though they had been up approximately 3% during early trade after the education and publishing company told it’s already selling its 22% stake in Penguin Random House for up to $1 billion to Bertelsmann SE, German media company, its joint-venture partner.
Marks & Spencer MKS stocks went down 3.5% because the giant retailer told that fiscal first-quarter 2018 like-for-like sales in Great Britain decreased 0.5%. As for food like-for-like sales, they dipped 0.1%, while home sales and clothing lost 1.2%.
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
The US Department of Justice thinks 87% a market share is too much for Google alone. The market thinks it's ok.
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!