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FTSE Close: Stocks sink as jobs data ignites recession fears

London-listed stocks declined on Friday as higher-than-expected US jobs numbers sparked concerns over further interest rate hikes and potential recession. The FTSE 100 ended down 0.4%, while the mid-cap FTSE 250 index shed 0.8%. Miner …

London-listed stocks declined on Friday as higher-than-expected US jobs numbers sparked concerns over further interest rate hikes and potential recession. The FTSE 100 ended down 0.4%, while the mid-cap FTSE 250 index shed 0.8%.

Miner Endeavour Mining was among the heaviest fallers, plunging nearly 7% after unexpectedly ousting its chief executive Sebastien de Montessus for “serious misconduct”.

Meanwhile, shipping services firm Clarkson buoyed the FTSE 100 with a 6.6% gain following a positive trading update. It expects full-year underlying pre-tax profit of at least £108 million, beating analyst forecasts, thanks to “strong trading throughout the final quarter”.

FTSE AIM All-Share firm Revolution Bars tumbled 21% as the bar operator prepared to close eight underperforming venues amid pressures from higher costs and a frugal younger customer base. Though festive sales rose 9% year-on-year in December, Revolution’s overall first-half like-for-like sales still declined 2.8%.

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