What happened yesterday?
London stocks retreated during a late session of trading on Wednesday as investors fretted over the latest data on the UK services and manufacturing sectors.
The FTSE 100 was down 0.22% at 7,074.06, while the FTSE 250 decreased by 0.09% to end at 22,659.42.
Sterling, on the other hand, ended in positive territory, gaining 0.18% on the dollar at $1.3974 and trading 0.14% up against the euro at €1.1697.
In the US, stocks on Wall Street were a mixed bag, as the Nasdaq Composite eked out its 16th record close in 2021, a day after Federal Reserve Chairman Jerome Powell testified before a House committee, reassuring investors that rising inflationary pressures will prove to be transitory. The Dow Jones Industrial Average fell 71.34 points to end at 33,874.24, the S&P 500 tumbled by 0.1% to end at 4,241.84.
In the last 24 hours, Bitcoin fell by 2.71% to $33,104.43, having briefly dropped below $30,000, while Ethereum decreased by 4.09% to $1,930.77. Dogecoin, the ‘meme’ cryptocurrency, on the other hand, gained a whopping 8% and is now valued at $0.234218.
In company news:
Lego Group unveiled a prototype building block from recycled drinks bottles in a bid to wean itself off oil-based plastic.
Public relations group Brunswick agreed to sell a minority stake of its business to BDT Capital Partners in a deal that will value it at approximately £500m and trigger a £140m pay-out to its 200 partners.