London declined by 0.41%, amid concerns about the British economy

This content was published on Dec 12, 2022 – 17:24

London, December 12 (EFE). – The London Stock Exchange closed down 0.41% on Monday amid investor concerns about the development of Britain’s economy, which contracted by 0.3% in the three months between August and October.

London’s main FTSE-100 index lost 30.66 points to 7,445.97 whole numbers, despite the advance of the London Stock Exchange Group (LSEG) – the stock exchange management company – which rose by 2.97% after announcing an agreement with Microsoft.

The Office for National Statistics (ONS) reported today that the UK’s GDP lost 0.3% in the three months to the end of October, although that month it was up 0.5% compared to September.

In an environment of pessimism due to the impact of inflation on consumption and rising interest rates, many values ​​have fallen in the London retail sector.

Among those were Frasers Group, which fell 3.77%, DIY store chain Kingfisher, which fell 2.61%, and online supermarket group Ocado, which lost 2.45%.

Mining companies Fresnillo and Rio Tinto fell by 3.23% and 2.67%, respectively.

LSEG topped the earnings table after it was reported that it had signed a ten-year strategic agreement with Microsoft, through which it will contract services during that period worth at least £2,300m (€2,675m).

American technology will acquire 4% of the shares of the London Stock Exchange Group, which until now was owned by the consortium between Blackstone and Thomson Reuters.

In addition to LSEG, the green center was Dechra Pharmaceuticals, up 1.47%; oil and gas company Harbor Energy, which rose 1.42%; and consumer credit rating company Experian, which ended the session up 1%. EFE

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