UK Market News: The UK stock market edged lower on Tuesday, with the blue-chip FTSE 100 index losing over half a per cent towards the end of the session. Investors have turned nervous ahead of the central bank’s meetings. Experts are expecting a 25-basis point hike by the Bank of England on Thursday despite recent data showing a contraction in the UK’s GDP in April. Meanwhile, UK real wages continue to fall behind inflation at the fastest rate in a decade amid a rise in unemployment. According to the Office for National Statistics (ONS), regular pay, excluding bonuses for the quarter from February to April, fell by 2.2%.
Ashtead Group Plc (LON: AHT): The share of the industrial equipment rental company, Ashtead Group Plc, was down by 4.39%, with day’s low of GBX 3,551.00. The company has, though announced a 38% rise in full-year profits and raised its dividend.
HSBC Holdings Plc (LON: HSBA): The share of multinational universal bank and financial services holding company HSBC Holdings Plc was up by around 3.5%, with a day’s high of GBX 520.00. The bank’s share is leading the gainers of financial stocks after experts expect a further rise in interest rates on Thursday with soaring inflation.