U.K. Stocks Finish Lower
The U.K. stock market ended on a negative note as declines were seen in clothing retail, medical equipment, and home goods retail companies. Investment advisors company experienced an increase.
The U.K. stock market ended on a negative note on Wednesday, as the FTSE 100 Index fell by 0.11% to close at 7,620.03.
Among the constituents of the FTSE 100, JD Sports Fashion PLC witnessed the largest decline, with shares dropping by 3.85%. Similarly, Smith & Nephew PLC and Burberry Group PLC saw their stock prices decline by 3.73% and 3.19%, respectively.
Kingfisher PLC, a home goods retail company, and International Distribution Services PLC, an air freight firm, were the next two companies on the list with the largest decreases. Their stocks declined by 2.48% and 2.29%, respectively.
Amidst the overall decline, abrdn PLC, an investment advisors company, emerged as the highest gainer among the FTSE 100 constituents. Its shares increased by 2.05% on Wednesday.
Shares of Imperial Brands PLC, a tobacco firm, and M&G PLC, an investment advisors company, rallied by 1.86% and 1.64%, respectively.
Rightmove PLC, a real estate developers company, and United Utilities Group PLC, a water utilities firm, rounded out the top five largest increases with their stocks rallying by 1.51% and 1.46%, respectively.
The pound showed a slight increase of 0.13% against the dollar, reaching $1.2303. It also edged up by 0.05% against the euro, standing at €1.1591.
Brent crude declined by 1.9% to $85.96, while the yield on the 10-year gilt decreased by 10.150 basis points to 4.334%.