Signage for the London Stock Exchange Group is seen outside the Canary Wharf offices in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Purchase license rights
Sept 5 (Reuters) – London’s main stock indices opened lower on Tuesday after weak economic data from China hit global sentiment, while shares in equipment-hire company Ashtead slumped on weak prospects. from income.
The top-tier FTSE 100 index (.FTSE) was down 0.8% at 0721 GMT, while the FTSE 250 index (.FTMC) fell 0.4%.
Asian and European markets, in general, came under pressure after the data presented China’s services activity expanded at the slowest pace in eight months in August as weak demand continued to weigh on the world’s second-largest economy and stimulus failed to significantly revive consumption.
Investors will be closely watching UK and Eurozone service sector data due later in the day.
Ashtead Groupthe actions of (AHT.L) fell 5.2% to the bottom of the FTSE 100 after the company lowered its forecast for annual growth in UK rental income, citing weakening market conditions.
B&M European Retail Value (BMEB.L) it fell about 6% after JP Morgan downgraded the retailer’s stock to “underweight.”
Generally, retailers (.FTNMX404010) it fell 1.8% after Barclays data showed British consumer spending growth slowed last month.
Reporting by Siddarth S in Bengaluru; Editing by Sonia Cheema.
Our standards: The Thomson Reuters Trust Principles.
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