Best and worst energy firms revealed
By Johann M Cherian and Shashwat Chauhan
(Reuters) -The UK's main stock indexes tumbled on Thursday in a broad-based selloff sparked by worries over a recession, while shares of Dr. Martens slumped to a record low after the bootmaker issued a profit warning.
The blue-chip FTSE 100 slid 1.1%, its biggest single-day drop in five weeks. The index had come close to hitting a record high earlier this week.
Global markets were rattled on Thursday after weak U.S. economic data compounded fears of a recession while hawkish comments from the U.S. Federal Reserve and the European Central Bank further hurt sentiment.
"Enthusiasm is being tempered by some weaker economic data points that have come out over the last couple of days," said Patrick Armstrong, chief investment officer at Plurimi Wealth.
UK data showing accelerating pay growth and inflation residing in double-digit territory this week also fuelled worries that the Bank of England (BoE) will keep hiking rates.
Markets are leaning heavily towards a 50-basis point hike by the central bank on Feb. 2.
However, BoE Governor Andrew Bailey said there was now more optimism about inflation falling this year, and noted the central bank had not pushed back against market expectations for interest rates to peak at 4.5%.
Industrial miners shed 2.0% as copper prices eased on worries about weak demand as top metals consumer China prepares for holidays and other economies slow down under the weight of high interest rates. [MET/L]
The domestically-oriented FTSE 250 shed 1.6%, with Dr Martens crashing 30.7% to a record low after the bootmaker issued a profit warning citing operational issues out of its U.S distribution centres.
Boohoo dropped 10.5% after the online fashion retailer said its revenue fell during the Christmas trading period, hurt by delivery disruption and tough comparatives.
Network International tumbled 10.4% after the digital commerce enabler forecast a lower core profit margin for 2023.
(Reporting by Johann M Cherian and Shashwat Chauhan in Bengaluru; Editing by Savio D'Souza, Shailesh Kuber and Josie Kao)
Sir Keir Starmer has vowed to stop investing in new British oil and gas fields if Labour wins the next election.
It said the powdered drinks factory in Knighton, Staffordshire, is loss making and does not fit in with its aims to focus on branded sales growth.
Jeapoardised patient safety and the uncertain future of the NHS were the foremost reasons given for industrial action in Darlington and Durham by nurses on the picket line.
Isle of Wight residents can get guidance on how to save money on their energy bills.
Boris Johnson received on Wednesday an honorary “Citizen of Kyiv” medal from the Ukrainian capital's mayor Vitali Klitschko at Davos.Source: AP
The campaigner has announced he will bring his roadshow to a pub in Aberdeen in April
Sinn Fein president Mary-Lou McDonald made the call as controversial legislation goes through Parliament.
THE UK Government has defended the geographical spread of the most recent round of Levelling Up fund.
SOS – please save our surgery in Bishopthorpe
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Roughly 80 miles off the coast of Yorkshire, the new generation of offshore wind turbines being built at Dogger Bank will be taller than some skyscrapers.
Deutsche Bank's investment banking bonus pool for last year will fall by somewhat less than 10%, a person with knowledge of the matter said on Friday, providing more evidence of tougher times in finance. Traders in Deutsche Bank's fixed income and currencies business, in contrast, will have bigger bonuses for the past year, as the area boomed due to volatile markets, the person also said. Deutsche Bank declined to comment.
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The chocolatier is eyeing expansion of its London footprint
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