FTSE 100 Slips In Cautious Trade
(RTTNews) - U.K. stocks fell on Tuesday, as the initial euphoria over the election of Rishi Sunak as the U.K. Prime Minister faded, and investors awaited Finance Minister Jeremy Hunt's budget on October 31 to see how he plans to plug a £40bn black hole in Britain's public finances exacerbated by Truss's disastrous package of unfunded tax cuts.
The benchmark FTSE 100 was down 32 points, or half a percent, at 6,982 after closing 0.6 percent higher on Monday.
HSBC Holdings plunged 7 percent after the bank reported higher-than-expected charges for possible loan losses in its third-quarter results.
IT infrastructure services provider Softcat fell about 1 percent despite reporting a rise in full-year profit and revenue.
Online beauty products seller THG soared 12.2 percent after backing its full-year outlook.
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