June 29, 2022

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FTSE 100 Marginally Lower In Cautious Trade

1 min read

U.K. stocks were seeing marginal losses on Tuesday amid concerns over commodity inflation and rate outlook.

Meanwhile, British services companies enjoyed stronger growth last month than initially estimated, with business activity rising at the fastest rate in 10 months, a survey showed.

The benchmark FTSE 100 was marginally lower at 7,552 after closing 0.3 percent higher on Monday.

Energy stocks traded mixed even as oil prices climbed on concerns over the prospect of tougher sanctions from the U.S. and Europe against Russia.

Victrex, a supplier of high performance polymer solutions, was moving higher after it announced the appointment of Ian Melling as Chief Financial Officer and as an Executive Director of the Board with effect from July 4.

HomeServe shares gained 2.3 percent. The home repairs and improvements business said it made very good progress in fiscal 2022, delivering an acceleration in performance compared to prior year, in line with expectations.

Go-Ahead Group surged 5.5 percent. The transport operator said it will reinstate its pre-Covid dividend policy of paying a dividend to shareholders equivalent to between 50 percent and 75 percent of underlying earnings per share from fiscal 2022.

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2022-04-05 05:35:33

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