UK market slides after IMF warns of darkening global economic outlook

Playtech Plc (LON: PTEC): The shares of the gambling software development company fell by 19.5%, with a day's low of GBX 408.80. Hong Kong-based investment and advisory firm TTB Partners has announced that it does not intend to make a takeover offer for the company, citing market conditions.

Sabre Insurance Group Plc (LON: SBRE): The shares of the private motor insurance provider fell by around 38.5%, with a day's low of GBX 116.40. It came after the company issued a profit warning due to elevated claims inflation.

Barratt Developments Plc (LON: BDEV): The shares of Britain's largest homebuilder fell by around 1.4%, with a day's low of GBX 445.50. The company reported fewer home completions than expected for FY2022, despite a profit forecast slightly above estimates.

US Markets: The US market is likely to get a negative start, as indicated by the futures indices. S&P 500 future was down by 61.17 points or 1.63% at 3,737.49, while the Dow Jones 30 futures was down by 1.61% or 494.81 points at 30,277.98. The technology-heavy index Nasdaq Composite future was down by 1.63% at 11,529.73 (At the time of writing – 9:37 AM ET).

US Market News:

Shares of the American multinational investment bank and financial services provider JP Morgan Chase (JPM) slumped by 2.9% in the premarket trading session after falling 12 cents shy of estimates with a quarterly profit of US$2.76 per share. The investment bank also announced it was temporarily suspending its share buybacks.

Shares of the multinational investment management and financial services company  Morgan Stanley (MS) fell by 2.6% in the premarket trading session. The company reported quarterly earnings of US$1.39 per share, 14 cents shy of consensus estimates.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 14 July 2022)

(Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group plc (LLOY), Barclays Plc (BARC), Glencore plc (GLEN).

Top 3 Sectors traded in green*: Industrials (0.36%).

Top 3 Sectors traded in red*: Basic Material (-2.47%), Energy (-2.42%), Financials (-1.58%)

London Stock Exchange: Stocks Performance (at the time of writing)

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $97.24/barrel and $93.50/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,709.90 per ounce, down by 1.48% against the prior day closing.

Currency Rates*: GBP to USD: 1.1825; EUR to USD: 1.0013.

Bond Yields*: US 10-Year Treasury yield: 2.959%; UK 10-Year Government Bond yield: 2.1105%.

*At the time of writing