Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

London stocks hammered as GDP shrinks, retail sales plunge

Published 13/05/2020, 08:13
© Reuters.
UK100
-
TUI1n
-
HBR
-
FTMC
-
FTNMX405010
-
FTNMX404010
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100, FTSE 250 down 1%

May 13 (Reuters) - UK stock markets fell on Wednesday as
data showed a nationwide shutdown crushed retail sales in April,
while the economy shrank by a record 5.8% in March in further
evidence of the business damage caused by the novel coronavirus
outbreak.
The retail index .FTNMX5370 tumbled 1.2% after surveys
showed British retail spending plunged by nearly a fifth and a
broader measure of consumer spending fell by more than a third
in April. The blue-chip FTSE 100 .FTSE was down 1%, snapping a
five-day winning streak and wiping out most of the gains it made
this month on hopes that an easing in restrictions would revive
business activity.
The mid-cap FTSE 250 .FTMC also shed 1%, with travel
stocks .FTNMX5750 plummeting again after a warning from
European travel company TUI (LON:TUIT) TUIGn.DE about thousands of job
cuts to ride out a virtual halt in global travel. Oil and gas producer Premier Oil PMO.L slumped 6.2% after
saying it expects to be free cash flow neutral this year
following a crash in oil prices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.