| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Sceptre of inflation continues to dog markets as FTSE slumps 1%
StockMarketWire.com
|
The FTSE 100 was sharply lower on Friday amid a global sell-off which suggested central bank attempts to calm fears over inflation this week were in vain.
By midday the index was down 1% to 6,713.17, with European markets also lower although US futures markets suggested Wall Street would see a rebound when trading resumes later.
The UK government borrowed £19.1 billion last month, £17.6 billion more than in February 2020, with public sector net borrowing in the financial year-to-February 2021 estimated to have been £278.8 billion.
Pub group JD Wetherspoon shed 0.8% to £13.09 as it announced a pre-tax loss of £68.0 million for the half-year ended 24 January, following the government imposed restrictions which forced the company to shutter its pubs.
Chairman Tim Martin said it was 'disappointing' that the regulations implemented, 'appear to have had no real basis in common sense or science'.
Scottish Mortgage Trust fell 1.6% to £11.33 on the news that joint portfolio manager James Anderson will step down in April 2022, when he is due to retire as a partner at Baillie Gifford.
The equities investor confirmed that joint portfolio manager Tom Slater will continue as lead portfolio manager when Anderson retires and Lawrence Burns, also a partner at Baillie Gifford, will become deputy portfolio manager.
Barclays has lost 1.4% to 181.2p as it commenced its previously announced share buy-back programme of up to £700 million shares.
Oxford Biomedica is 4.8% lower to 973p after announcing Sanofi's decision to terminate the collaboration and license agreement in the field of haemophilia gene therapy. The company said it will have a 'negligible' impact on revenue.
UK housebuilder Taylor Wimpey has tumbled 1.1% to 182.7p on the news that the CMA had confirmed in a letter that its leasehold investigation has moved to the 'formal consultation' stage.
Engineering and industrial software company Aveva is down 0.2% to £34.05 following the news it has completed the acquisition of OSIsoft.
Premier Inn hotel owner Whitbread has lost 2.4% to £33.41 after it announced that group HR director Louise Smalley will retire from the board on 31 August 2021.
Sanne gained 6.5% to 611p after the alternative asset and corporate services provider reported 'strong profit growth' in 2020, helping net revenue to reach £169.7 million.
Information management software provider ldox slumped 16.7% to 59.8p after Dye & Durham walked away from plans to potentially takeover the company.
Story provided by StockMarketWire.com
|
|
|
|
|
|
