The UK’s FTSE 100 retreated on Wednesday as data showed inflation fell to its lowest since August 2016 in the latest economic blow from the coronavirus outbreak, with investors also digesting another mixed bag of quarterly earnings reports.
The blue-chip FTSE 100 was down 0.2 percent, with the banking index tumbling 1.2 percent on increased bets of negative interest rates.
Britain’s justice minister said on Wednesday the government will look at how it can help employees of engine maker Rolls-Royce after it said would cut at least 9,000 jobs and could shut some factories. Its shares fell 3.2 percent in morning trading.
UK homebuilder Vistry Group Plc shed 3.2 percent on forecasting more job cuts as it consolidates the operations of Bovis Homes and construction company Galliford Try’s residential units.
But Playtech Plc surged 3.3 percent after posting a jump in first-quarter profit as its financial trading division benefited from increased market volatility and trading volumes.
Retailer Marks & Spencer Group Plc rose 4.5 percent as it said it would accelerate its latest turnaround program after reporting a 21 percent fall in annual profit.