The FTSE 100 closed lower on Tuesday as Wall Street’s tech stocks lost steam, making investors nervous before the release of US inflation numbers this week.
The UK blue-chip index fell 0.1%, to 7,683.96. The mid-cap FTSE 250 index declined 0.5%, to 19,294.02. The AIM All-Share managed a slight gain of 0.3% to finish at 752.66.
Sportswear retailers were among the heaviest weights on the FTSE 100. Both JD Sports and Frasers Group dropped nearly 2%, while Primark-owner Associated British Foods lost 0.6%. Discount retailer B&M edged 0.4% lower despite announcing a special dividend of 20 pence per share following strong Christmas sales.
The FTSE 250 was dragged down by asset manager Jupiter Fund Management, which plunged 14% after higher-than-expected net outflows in the fourth quarter. The company also announced the July departure of Ben Whitmore, manager of several key funds totalling £4.8 billion in assets.
In the recruitment, Hays Group fell 7.6% after reporting a “more difficult December.” The company said its second-quarter fees declined 10% and it expects to miss profit forecasts for the first half. Peer Robert Walters lost 9.5% in sympathy.
On AIM, touch sensor manufacturer Zytronic cratered 22%. The company blamed a 30% drop in full-year revenue on electronic component shortages, lack of trade shows and the resignation of key staff members.
