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FTSE 100 Declines Amid Earnings Deluge
(RTTNews) - U.K. stocks declined on Thursday as investors digested a deluge of earnings and awaited a monetary-policy decision by the European Central Bank.
The benchmark FTSE 100 was down 35 points, or half a percent, at 7,229 after closing 0.4 percent lower on Wednesday.
Online trading platform IG Group soared 4 percent on share buyback news.
Energy company SSE was moving lower despite posting encouraging first-quarter results and reiterating its FY23 earnings guidance.
Online grocer Ocado slumped 4 percent after reporting a wider loss in it first-half. Drinks maker Britvic gained 1 percent after reporting a jump in revenues across its markets.
Marks & Spencer lost 1.8 percent. The retailer said its finance and strategy chief Eoin Tonge would leave the company to take up a role at Associated British Foods.
In economic releases, the U.K. budget logged its second biggest deficit for the month of June on record, as high inflation pushed up the debt servicing cost of government, the Office for National Statistics said.
Public sector net borrowing excluding public sector banks increased by GBP 4.1 billion to GBP 22.9 billion in June, which was the second-highest June borrowing since monthly records began in 1993.
This was GBP 0.6 billion more borrowing than the Office for Budget Responsibility had forecast.
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