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.
DAX Dips As Inflation Spike Hurts Sentiment
Sensex, Nifty Give Up Early Gains To End Lower
Pound Slides After UK Starmer's Reshuffle
Eurozone Inflation Rises Slightly To 2.1%
European Shares Slide As Inflation Accelerates
Pound Slides Against Majors
FTSE Edges Lower As Yields Jump On Debt Concerns
