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FTSE 100 Edges Lower As IMF Slashes Growth Outlook
(RTTNews) - U.K. stocks opened lower on Tuesday after the International Monetary Fund (IMF) said the British economy will shrink by 0.6 percent in 2023, rather than grow slightly as previously predicted, reflecting high energy prices and factors such as high inflation. The benchmark FTSE 100 was down 45 points, or 0.6 percent, at 7,740 after gaining 0.3 percent in the previous session.
British American Tobacco dropped half a percent after announcing an overhauling of its management structure.
Johnson Matthey was slightly lower after announcing a long-term strategic partnership with Plug Power, a provider of turnkey hydrogen solutions for the global green hydrogen economy.
Ricardo gained about 1 percent after keeping its FY guidance unchanged.
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