London Stocks closed lower on Wednesday (June 29) as investors sold stocks amid fears that The world economy will enter a recession. But the rise in health care stocks has helped support the market.
The FTSE 100 London Stock Exchange closed at 7,312.32, down 11.09, or -0.15%.
market down As growing fears about a slowdown have put pressure on equitable stocks, the FTSE 100 is likely to suffer its worst quarter since September. 2020
Anglo Stocks American and Diageo shares fell 1.7 percent and 2.8 percent, respectively, after Deutsche Bank downgraded their investment ratings.
But health care stocks rose 2.0% as investors bought AstraZeneca shares. and Glaxo Smith Klein
The FTSE 100 is down nearly 1% this year, but is better than any other stock market. This is because most resource stocks are driven by rising energy and commodity prices.
The British economy is facing recession risks and inflation hovers near double-digit levels, and the Bank of England is expected to raise interest rates again in August.