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.
FTSE Slips Into Red With Ocado In The Spotlight
2023-02-28 09:23:17
