U.K. stocks hit five-week lows on Thursday, with sentiment dented by growing worries around China’s shuttering economy and fresh worries that the U.S. Federal Reserve may raise rates again to tame stubborn inflation.
The benchmark FTSE 100 was down 21 points, or 0.3 percent, at 7,335 after declining 0.4 percent on Wednesday.
The dollar hovered around a two-month high after the minutes of the Federal Open Market Committee (FOMC) meeting held on July 25-26 showed that Fed officials remain concerned about upside risks to inflation.
BAE Systems slumped nearly 4 percent after the defense firm said it had agreed to buy Ball Corp’s aerospace business for about $5.55 billion in cash.
Rank Group advanced 1.6 percent. The gambling group posted a 5.9 percent increase in revenue in its 2022-23 financial year, though increased impairment costs led to a statutory net loss.
Market Analysis
FTSE 100 Slips On Fed, China Woes
2023-08-17 09:11:32
