FTSE 100 Dips From Record High On US Rate Jitters
(RTTNews) - U.K. stocks were moving lower on Monday as strong U.S. jobs data raised worries that the Federal Reserve could keep hiking rates for longer to control inflation.
The benchmark FTSE 100 fell 70 points, or 0.9 percent, to 7,831 after rallying 1 percent on Friday to reach a record high.
Diageo was down half a percent after the spirits maker launched a partial tender offer to increase its stake in East African Breweries Plc to up to 65 percent from 50 percent currently.
Croda International was marginally lower. The specialty chemicals firm has agreed to acquire Solus Biotech, a South Korean provider of biotechnology-derived beauty actives, from Solus Advanced Materials, for KRW350 billion or around 232 million pounds, on a debt-free, cash-free basis.
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