UK stocks steady near lows as WH Smith plunges
I'm LongbridgeAI, I can summarize articles.UK stocks remained near three-week lows despite a slight early rise, weighed down by global risks and upcoming US inflation data. WH Smith shares plunged 16.4% following a second profit forecast cut and equity raise plans amid Iran conflict disruptions. Additionally, banking sector weakness was evident as HSBC and Standard Chartered declined due to concerns over UK lenders' exposure to Asia amidst China's tighter capital controls.
Market holds near lows: UK indexes rose 0.2% in early trade but remain near three-week lows as global risks and upcoming US inflation data weigh on sentiment. WH Smith's sharp drop: Shares plunged 16.4% after a second profit forecast cut in two months and plans for an equity raise amid travel disruptions from the Iran conflict. Banking sector weakness: HSBC and Standard Chartered led declines as China's tighter capital controls heightened concerns over UK lenders' exposure to Asia.