The UK’s FTSE 100 share index dipped on Wednesday, as hotter-than-expected inflation data tempered expectations for quick interest rate cuts, and overshadowed optimism around software company Sage’s upbeat quarterly profit. Photograph: Andrey Rudakov/Bloomberg
Sage Group reported a better-than-expected 21 per cent rise in operating profit, driven by a 220-basis-point margin increase, and said it expected further progress this year, sending its shares up 18% to an all-time high. Real estate-related stocks including household goods and home construction lost over 2.8 per cent, while real estate investment trusts fell 1.6 per cent.Europe’s main stock index closed flat after a volatile session on Wednesday as investors remained on edge over geopolitical tensions between Ukraine and Russia which continued to cast a shadow over the markets.
The reductions – which amount to about 14 per cent of Ford Europe’s workforce – will primarily hit operations in Germany and the UK by the end of 2027, pending consultations with unions and governments. The automaker also announced it will reduce production of Explorer and Capri EVs at its complex in Cologne, Germany.
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