London’s blue-chip FTSE 100 index hit a one-month low on Tuesday, hurt by risk-off moves in Asia and Europe as hawkish remarks from central bankers outweighed support from better-than-expected UK wages data.
The FTSE 100 dropped 0.6% by 0812 GMT to its lowest level since Dec. 14, 2023.
The domestically-focussed FTSE 250 index dipped 0.3%.
Asian and broader European equities were under selling pressure after European Central Bank officials warned on Monday it was too early to discuss interest rate cuts.
FTSE 100 slips as luxury, bank stocks weigh
That countered optimism from data that showed British wages grew at the slowest pace in almost a year, adding to signs of a gradual cooling of the inflationary pressure in the labour market that has worried the Bank of England.
-listed shares of Rio Tinto fell 0.6% after the global miner reported a 1% fall in its iron ore shipments in the fourth quarter of 2023.
On the flip side, Ocado Group climbed 4.8% after online supermarket Ocado Retail said it would meet its forecast of a return to positive earnings for its full 2022/23 year after revenue growth accelerated in its fourth quarter.
Experian gained 2.0% after the credit data firm posted a 9% rise in third-quarter revenue, powered by strong demand for its new products and business wins.
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