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FTSE 100 Dips On US Bank Woes
(RTTNews) - U.K. stocks declined on Thursday amid signs that another U.S. bank is on the brink of collapse.
PacWest Bancorp shares slumped 60 percent in after-hours U.S. trading and shares of other regional lenders also fell after PacWest Bancorp said that it is exploring strategic options, including a potential sale or capital raise.
The benchmark FTSE 100 was down 48 points, or 0.6 percent, at 7,740 after closing 0.2 percent higher on Wednesday.
Shell rose over 2 percent after its first-quarter profit beat forecasts despite lower energy prices.
Mothercare plunged 12.5 percent after the baby products retailer warned it may require waivers for future debt covenant tests.
Domino's Pizza climbed 1.1 percent after posting record first-quarter sales and launching a £20m share buyback.
Home and clothing retailer Next Plc rose over 2 percent after maintaining its sales and profit guidance.
BAE Systems fell over 1 percent. The defense giant said its performance in the first financial quarter has been in line with expectations.
In economic releases, a survey showed U.K. business activity growth regained momentum during April, fuelled by the strongest upturn in new orders since March 2022.
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