FTSE Slips Into Red With Ocado In The Spotlight
(RTTNews) - U.K. stocks were moving lower on Tuesday, as inflation concerns deepened, and online retailer Ocado swung to a loss after a "challenging year".
Consumer price data from France and Spain came in hotter than expected, stoking worries about further interest-rate hikes.
The benchmark FTSE 100 was down 36 points, or half a percent, at 7,896 after rising 0.7 percent the previous day.
The pound held onto Monday's gains after Prime Minister Rishi Sunak signed a new trade deal with the European Union designed to remedy problems caused by the Northern Ireland Protocol.
Online grocer Ocado plunged more than 9 percent after posting a pre-tax loss of £501 million for the year to 31 December 2022.
Likewise, building materials giant Travis Perkins fell nearly 4 percent after posting disappointing annual earnings.
Serco Group, a provider of public services, jumped 4.2 percent after reporting a rise in earnings for 2022, amidst an increase in revenue.
European Shares Seen Up In Cautious Trade
Sensex, Nifty Marginally Higher In Early Trade
Australian Market Extends Early Losses In Mid-market
Asian Markets Trade Mixed
Sensex, Nifty Set To Open Lower Amid Rising Global Bond Yields
Win Streak May End For Thai Stock Market
Japanese Market Modestly Lower
