UPDATE 2-Resource-linked shares knock FTSE 100 lower as recession risks linger

Reuters

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    * PMI data points to recession signals
    * Oil majors lead losses
    * FTSE 100 down 1.0%, FTSE 250 off 1.1%

 (Updates to close)
    By Boleslaw Lasocki
    June 23 (Reuters) - UK's FTSE 100 dropped on Thursday,
following a selloff in oil and mining majors due to tepid
commodity prices on persisting concerns about a global
recession.
    The blue-chip FTSE 100  .FTSE  ended 1% lower, with oil
majors BP  BP.L  and Shell  SHEL.L  leading losses, while the
domestically focused FTSE 250  .FTMC  shed 1.1%.  O/R 
    London-listed shares of global miners including Anglo
American  AAL.L , Rio Tinto  RIO.L  and Glencore  GLEN.L 
weakened as copper prices tumbled to a 16-month low.  MET/L 
    "The fall in metals ... that's about worries over a slowdown
in the global economy," said Susannah Streeter, senior
investment and markets analyst, Hargreaves Lansdown. 
    An S&P Global survey showed Britain's economy is showing
signs of stalling as rapid inflation hits new orders and
businesses report levels of concern that normally signal a
recession.  urn:newsml:reuters.com:*:nZRN004KEH
    "Despite the UK resembling a stagflationary economy, the UK
FTSE appears to offer a relatively good hedge against stagnant
growth and stubborn, broad-based inflation," said Sean Darby,
global equity strategist at Jefferies. 
    "However, the authorities are boxed in as the UK consumers
buckle under pressure from higher mortgage rates, ballooning
fuel prices and rising import costs." 
    Data also showed the British government had to borrow a
bigger-than-expected amount of 14 billion pounds ($17.14
billion) amid mounting inflation, debt interest costs.
 urn:newsml:reuters.com:*:nL8N2YA0XF  
    Shares of 888  888.L  slipped 1.0% after the online gambling
firm said it expects a drop in its half-year revenue.
 urn:newsml:reuters.com:*:nL4N2YA13W
    Trainline  TRNT.L  fell 10.1% to the bottom of the FTSE
mid-cap after the rail operator's finance head announced plans
to step down.  urn:newsml:reuters.com:*:nL4N2YA1I8
    Naked Wines  WINEW.L  tumbled 43.6% after the online wine
seller said it intends to trade the business at or around
break-even in 2022 amid growing uncertainty in the market.
 urn:newsml:reuters.com:*:nL4N2YA1IP
    

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
UK PMI    https://tmsnrt.rs/3bn8qzK
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Boleslaw Lasocki in Gdansk and Amal S in
Bengaluru; Editing by Shailesh Kuber, Sherry Jacob-Phillips and
Shinjini Ganguli)
 ((amal.s@thomsonreuters.com;))
 
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 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
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