TOKYO (AP) – European shares fell yesterday after Asian shares advanced as investors welcomed solid earnings reports from United States (US) companies.
France’s CAC 40 slipped 0.9 per cent to 4,884.46 while Germany’s DAX shed 0.8 per cent to 12,635.78. Britain’s FTSE 100 dipped 1.3 per cent to 5,811.52. US shares were set to drift lower with Dow futures giving up 0.1 per cent to 28,144.00. S&P 500 futures also declined 0.1 per cent, to 3,428.12.
The United Kingdom (UK) government reported yesterday that its borrowing rose to the highest level on record in the first half of the financial year as tax revenue fell and authorities spent billions of pounds to prop up an economy ravaged by the coronavirus pandemic.
The Office for National Statistics said the public sector’s net debt now stands at 103.5 per cent of the UK’s annual economic output, the highest level since 1960.