FTSE 100 Slips On Fiscal Policy Concerns
(RTTNews) - U.K. stocks fell sharply on Thursday as the positive impact on bond markets from the Bank of England's intervention began to fade.
The British pound resumed its slide, snapping a two-day gain, as prime minister Liz Truss doubled down on her tax cutting and borrowing plans.
The benchmark FTSE 100 was down 84 points, or 1.2 percent, at 6,920 after gaining 0.3 percent on Wednesday.
Next Plc plunged 8.4 percent as the clothes retailer issued its second profit warning this year, citing tough trading in August and cost-of-living pressures. Avon Protection, a maker of protection and defense products, jumped nearly 7 percent.
The company has received its first $42.1 million delivery order from the U.S. Army under the Next Generation Integrated Head Protection System or NG IHPS helmet contract.
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