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


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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
    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.
    Shares of 888  888.L  slipped 1.0% after the online gambling
firm said it expects a drop in its half-year revenue.
    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.

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)
For related prices, Reuters users may click on - * 
 UK stock report      .L     
 FTSE index:          0#.FTS6  
 techMARK 100 index:  .FTT1X          FTSE futures:      0#FFI:  
 Gilt futures:        0#FLG:          Smallcap index:     .FTSC  
 FTSE 250 index:      .FTMC           FTSE 350 index:     .FTLC  
 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
 Top price gainers:   .NG.L           Top % gainers:      .PG.L  
 Top price losers:    .NL.L           Top % losers:       .PL.L  
 * For related news, click on - *
 UK hot stocks:       HOT  and  GB      Wall Street:           .N 
 Gilts report:        GB/             Euro bond report  GVD/EUR 
 Pan European stock report:  .EU 
 Tokyo stocks:        .T              HK stocks:            .HK 
 Sterling report:     GBP/            Dollar report:       USD/ 
 * For company prices, click on - *
 Company directory:   UKEQ           By sector:           FTAX  
 * For pan-European market data, click on - *
 European Equities speed guide................  EUR/EQUITY  
 FTSE Eurotop 300 index...........................  .FTEU3  
 DJ STOXX index...................................  .STOXX  
 Top 10 STOXX sectors........................  .PGL.STOXXS  
 Top 10 EUROSTOXX sectors...................  .PGL.STOXXES  
 Top 10 Eurotop 300 sectors..................  .PGL.FTEU3S  
 Top 25 European pct gainers....................  .PG.PEUR  
 Top 25 European pct losers.....................  .PL.PEUR ))

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