FTSE 100 Slides As Earnings Disappoint

RTTNews | 1037 days ago
Stocktwits
FTSE 100 Slides As Earnings Disappoint

(RTTNews) - U.K. stocks fell on Wednesday as mixed earnings updates offset investor optimism over Rishi Sunak pledging to lead the country out of an economic crisis.

The benchmark FTSE 100 dropped 39 points, or 0.6 percent, to 6,975 after ending marginally lower on Tuesday.

WPP tumbled 3.7 percent after the world's largest advertising group downgraded its annual margin guidance and warned of possible economic headwinds.

Consumer goods company Reckitt Benckiser lost 4.5 percent after reporting a decline in sales volumes in the third quarter.

Lender Barclays dropped 1.3 percent despite reporting better-than-expected profit in the third quarter.

Precious metals mining firm Fresnillo jumped 2.7 percent after posting solid quarterly production figures and backing its 2022 production guidance.

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