Consultants KPMG were slapped with a £14. 4m fine by the UK accounting watchdog in response to "serious misconduct" on the part of the auditors of failed outsourcer Carillion.
European stocks were on Thursday, sparked by a mixed reading on US inflation and further calls for the European Central Bank to start hiking interest rates, including as soon as July.
London stocks closed well below the waterline on Thursday, having taken their opening cue from a selloff on Wall Street on the back of hot inflation data, as weak UK GDP figures fuelled recession fears.
Sector movers: US inflation data, rate hike talk trigger dollar strength and falls in miners and financial stocks
Drops in commodity stocks dragged the FTSE 350 lower and saw the top-flight index underperform as another wave of risk aversion swept over financial markets triggered by a mixed reading on producer prices Stateside.
Inflation will continue to top the economic agenda at the end of the week with readings on price pressures and economic agents' expectations for them due out on either side of the Pond.
Keywords Studios was at the top of the list of director buys on Thursday, after both its chairman and another board member made personal investments in the company.
Data and digital service provider Silverbullet has entered into a joint venture agreement with Making Science Group, it announced on Thursday, to combine their respective products, services, and talent to deliver solutions for the “privacy-first, post-cookie era”.
Two more top policymakers at the European Central Bank said they favoured starting to hike interest rates as soon as July.
Asset management service provider MJ Hudson said in an update on Wednesday that trading in the quarter ended 31 March was “particularly strong”.
Pawnbroker H&T Group said in an update on Thursday that trading in the first four months of 2022 had remained “very strong”.
The Bank of England may need to hike official interest rates by more than what financial markets are currently pricing in, one of the central bank's top officials said.
Analysts at Berenberg upgraded energy firm SSE from 'hold' to 'buy' on Thursday, stating they now see "a buying opportunity".
UK telecoms and broadcasting group BT on Thursday confirmed it was moving its sports TV division into a 50-50 joint venture with Warner Bros Discovery as it also reported a small rise in adjusted annual core earnings.
London’s FTSE 100 was down 1. 7% at 7,221. 57 in afternoon trade on Thursday amid worries about a global growth slowdown.
Wall Street stocks opened mostly lower on Thursday as inflation data continued to weigh on sentiment.
Hargreaves Lansdown shares tumbled on Thursday after the investment platform reported a drop in new business and assets under management.
The FTSE 250 was down 1. 98% at 19,257. 32 at 1458 BST.
Growth in the US producer price index slowed as expected in April, according to figures released on Thursday by the Labor Department.
UK Prime Minister Boris Johnson insisted on Thursday that he was still opposed to a windfall tax on energy companies, but refused to rule the possibility of introducing a one-off levy.
US first-time jobless claims ticked up by 1,000 in the week ended 7 May to hit 203,000, ahead of both the prior week's upwardly revised print of 202,000 and estimates for a reading of 195,000.
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