Shares lose 0.1pc. $A gains as traders eye RBA. UK’s FTSE rallies on Labour govt. Wall St closed. US jobs data, French elections ahead. Follow here.
Australian shares lost 0.3 per cent at the open as mining and property stocks gave back some of this week’s gains. Soon after the opening bell the world’s largest oil group, Saudi Aramco, denied a Bloomberg report it’s considering a bid for gas giant Santos. “With reference to recent media reports claiming that Aramco is considering an offer for Santos, the Company can confirm that such claims are inaccurate,” Saudi Aramco said in a statement. Santos shares traded down 0.8 per cent to $7.93.
“There is no denying that a new government will face significant challenges up ahead and that can weigh on UK assets further down the line, but for now, a seemingly calm election should anchor UK stocks and keep the pound relatively calm,” said Daniela Hathorn, senior market analyst at Capital.com. Hathorn said the focus remains on the Bank of England and its policy mandate, which has given no clear signs of when it will be able to start cutting rates.
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