FTSE 100 drops as pandemic damage increases
(Finance) – The UK’s FTSE 100 dipped on Wednesday as data showed inflation fell to its lowest since August 2016 in the latest sign of the economic blow from the coronavirus outbreak, with investors also digesting another mixed bag of quarterly earnings reports.
The blue-chip FTSE 100 was down 0.3%, as a report also questioned positive data from an early-stage trial of a potential coronavirus vaccine.
But the mid-cap FTSE 250 was nearly unchanged, supported by a 6.1% jump for gambling software maker Playtech Plc, which posted a jump in first-quarter profit as its financial trading division benefited from increased market volatility and trading volumes.
Engine-maker Rolls-Royce Holdings Plc shed 0.1% as it said it could close some of its factories as part of a programme to cut 9,000 jobs in response to the crisis in the global aviation industry.
Retailer Marks & Spencer Group Plc rose 4.4% as it said it would accelerate its latest turnaround programme after reporting a 21% fall in annual profit.
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