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FTSE 100 lower, TUI questions London listing after record quarter

Published 13/02/2024, 11:15
Updated 13/02/2024, 11:15
© Reuters FTSE 100 lower, TUI questions London listing after record quarter

Proactive Investors -

  • FTSE 100 down 16 points at 7,557.
  • Unemployment beats expectations at 3.8% in December.
  • TUI (LON:TUIT) questions London listing after record quarter.

Today’s FTSE 100 risers and fallers so far

DS Smith PLC, GSK PLC (LON:GSK) and Anglo American (JO:AGLJ) led the FTSE 100 risers come mid-morning on Tuesday.

Shares in DS Smith (LON:SMDS) sat 1.6% higher, with reports having circulated in recent days over an impending takeover offer from rival packaging firm Mondi PLC (LON:MNDI).

Anglo American climbed by 1.3%, followed by GSK's 1.2% gain meanwhile, with the latter having been granted an upgrade by CitiGroup earlier in the day.

Frasers Group PLC (LON:FRAS) led the fallers, with losses of 2.4%, which themselves came after gains on the back of a share buyback announcement on Monday.

Scottish Mortgage Investment Trust PLC (LON:SMT) and Rolls-Royce Holdings PLC (LON:RR) then followed closely with losses of around 2.4% each respectively.

Scottish Mortgage’s turbulence is said to follow losses by Tesla Inc (NASDAQ:TSLA), which makes up its seventh largest holding, overnight.

In case you missed it… BoE governor says shallow recession no big deal

Bank of England governor Andrew Bailey played down the importance of figures due later this week which some expect will show the UK dipped into recession late last year.

UK gross domestic product (GDP) figures are due to be released on Thursday, with analysts having warned these look likely to show that the three months to December brought a second consecutive quarter of negative growth.

Though this would mean the UK had slipped into a technical recession, Bailey said he “would not put too much weight on that,” when speaking at Loughborough University on Monday night.

“If we do get two successive negative quarters [...] it will be very shallow,” he continued.

“What I would put more weight on is that the indicators we have seen since have shown some signs of upturn.”

A recession over the back end of last year would mark the first since the pandemic, or since 2009 when not accounting for Covid-19-related lockdown measures.

Read more on Proactive Investors UK


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