- Discoverie Group rises after upsizing equity raise
- Sanne Group falls after Cinven steps back from bidding war
- UK economic recovery slows down as supply chain issues weigh
- FTSE 100 down 0.4%, FTSE 250 off 0.1%
Sept 3 (Reuters) – London’s FTSE 100 slipped on Friday weighed by weakness in energy and pharmaceutical stocks, while a weaker-than-expected U.S. job growth data in August further dented sentiment.
Global equities retreated from record highs after U.S jobs report showed a sharp slowdown in jobs growth last month sparking fears of slowing global growth. read more
“It’s lower than estimates, but I did not think that the numbers were outside of the parameters of general expectations. It’s generally a positive although not a huge positive for the economy and the markets,” said Mark Grant, chief global strategist of fixed income at B. Riley Securities Inc.
Wider mining index (.FTNMX551020) gained 0.5%, tracking metal prices higher as investors sought the perceived safety of gold following dismal U.S. job data.
Britain’s economic recovery from the COVID-19 pandemic lost more momentum last month than originally estimated as staff shortages and supply chain issues weighed on companies in the country’s huge services sector, a survey showed. read more
The domestic focused mid-cap FTSE 250 index (.FTMC) edged 0.1% lower, however marked its second straight week in gains.
Among other stocks, Ashmore Group (ASHM.L) fell 4.1% after the emerging markets-focused money manager reported a 12% dip in annual net revenue.
Discoverie Group’s (DSCV.L) shares gained 21.6% after the electronic components manufacturer and supplier upsized its equity raise offering.
Sanne Group (SNNS.L) slipped 2.1% after London-based private equity firm Cinven said it would not make another buyout offer for the asset management services provider.
Reporting by Devik Jain and Amal S in Bengaluru, additional reporting by Sruthi Shankar; Editing by Saumyadeb Chakrabarty, Uttaresh.V and Marguerita Choy
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