Economic news

FTSE 100 Slips as Growth Worries Persist

* FTSE 100 down 0.2%, FTSE 250 off 0.4%

Sept 24 (Reuters) - London’s FTSE 100 followed Asian stocks lower on Friday as concerns about global growth outweighed a jump in AstraZeneca shares after a positive trial update.

AstraZeneca jumped 2.7% to the top of the FTSE 100 after trials of its prostate cancer drug Lynparza showed positive results.

The blue-chip FTSE 100 index eased 0.3%. Retail stocks, industrial miners and life insurers were the top losing sectors.

Growing worries over energy bills, food costs and tax hikes prompted a hefty drop in British consumer confidence this month as people became more downbeat about the economic outlook, a survey showed.

The domestically focussed mid-cap index fell 0.4%, with travel stocks leading the declines.

British outsourcer Mitie Group rose 3.2% after it raised its fiscal 2022 profit forecast.

Land Securities fell 0.9% after saying it sold two retail parks for 54.3 million pounds ($74.51 million) as the commercial landlord starts exiting that non-core portfolio.

(Reporting by Shashank Nayar in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: Reuters


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