Automobiles paced losses on the stock market in the middle of the week after TI Fluid Systems warned that its fourth quarter revenues took a hit from Covid restrictions and a switch to electric vehicles in China.
The market spotlight on Thursday was expected to continue to be on US and the Federal Reserve.
European shares finished on a mixed note on Wednesday as investors on Wall Street reacted poorly to a batch of weaker-than-expected economic data in the US.
London stocks ended Wednesday trading in negative territory, as investors mulled the latest UK inflation data.
Layoff announcements among US technology firms reached their highest monthly level for seven years following Microsoft's announcement earlier in the day that it would shed 10,000 employees, a top staffing agency said.
Analysts at Canaccord Genuity slightly lowered their target price on oil company Genel Energy from 180. 0p to 170. 0p on Wednesday following the group's trading update.
A top US central bank official argued in favour of hiking interest rates by 50 basis points at its next meeting to ensure that inflation would fall back to the monetary authority's 2. 0% target.
Oil and gas company Harbour Energy confirmed on Wednesday that it is reviewing its organisation in the UK following a hike in the windfall tax last year.
Hikma Pharmaceuticals revealed on Wednesday that non-executive director Deneen Vojta had acquired 1,000 ordinary shares in the FTSE 250-listed drugmaker.
London’s FTSE 100 was down 0. 2% at 7,832. 18 in afternoon trade on Wednesday.
UK online car retailer Cazoo is slashing more jobs and closing customer service centres in response to a fall in sales, with founder Alex Chesterman stepping down as chief executive.
US retail sales softened by much more than expected towards the end of the previous year.
Pawnbroker and jewellery retailer H&T Group said in an update on Wednesday that its trading performance remained strong through the fourth quarter of 2022, continuing the momentum seen across the business throughout the year.
Industrial output weakened noticeably at the tail-end of 2022 as production of business equipment fell sharply.
Wall Street trading got off to a mixed start on Wednesday as traders digested some key economic data.
Shares in TI Fluid Systems fell sharply on Wednesday as the company said sales in China had been hit in the fourth quarter due to Covid restrictions and a switch to electric vehicles in the country.
Homebuilder confidence in the US may have hit bottom at the end of the previous year thanks to a "modest" decline in interest rates, a leading business lobby group said.
Crimson Tide described a year of “good progress” in a trading update on Wednesday, with annualised recurring revenue now at record levels.
Metaverse technology company Engage XR said in an update on Wednesday that its total revenue for 2022 was expected to be €3. 9m, an increase of 63% year-on-year.
FTSE 250: 19,973. 30, +0. 13% at 1500 GMT.
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