UK stocks edged into the red for the second day in a row, dragged lower by downward moves from mining stocks, telecoms and pharma stocks.
The FTSE 100, up 2.7 per cent in 2023, followed Tuesday’s backwards move by sinking close to 0.2 per cent on Wednesday.gave back more than 2 per cent after it reported a slowdown in revenue growth in quarter three from quarter two and said “we can do better”.plunged 2.9 per cent after its competitor, GSK, announced that it had beat fourth-quarter profit and sales forecasts, helped by sales of its blockbuster shingles vaccine Shingrix and unveiled an upbeat forecast for 2023.
Despite the Fed’s decision to raise rates again by another quarter of a per cent, January’s equity rally shows that stock investors are at odds with the Fed, despite chair Jerome Powell and his colleagues reinforcing that rates will remain higher for a while.slumped more than 11 per cent after cutting its full-year forecast, whileShares in payments giantfell by close to 1 per cent after the company announced plans to shed as many as 2,000 jobs globally.