U.K. stocks slipped into the red on Wednesday, with ex-dividend trades weighing on markets ahead of a long holiday weekend.
London markets will remain closed on Thursday and Friday for Queen Elizabeth’s Platinum Jubilee.
The benchmark FTSE 100 dropped 0.2 percent to 7,595 after edging up 0.1 percent on Tuesday.
National Grid gave up 1.7 percent and Vodafone lost 2.9 percent on going ex-dividend.
Dr. Martens shares soared nearly 29 percent after the footwear brand reported record revenue in the 12 months to March 2022 and upped its outlook for the fiscal year 2023.
Tullow Oil added 2.4 percent. The oil & gas exploration firm has reached an agreement on the terms of a recommended all-share merger of equals with Capricorn Energy Plc.
In economic releases, House prices grew 11.2 percent on a yearly basis in May, following the 12.1 percent increase in April, data from the Nationwide Building Society showed earlier in the day.
Nonetheless, the annual growth was faster than the economists’ forecast of 10.5 percent.
On a monthly basis, house price inflation more than doubled to 0.9 percent from 0.4 percent.
Market Analysis
FTSE 100 Slips Into Red Ahead Of Long Weekend
2022-06-01 09:25:09
