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FTSE 100 Dips As Ashtead Cuts Outlook

November 20, 2023 — 04:29 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - U.K. stocks started the week on a downbeat note following Ashtead's downbeat annual profit outlook.

The benchmark FTSE 100 was down 15 points, or 0.2 percent, at 7,489 after climbing 1.3 percent on Friday.

Energy stocks were subdued, with BP Plc and Shell trading marginally lower despite oil prices extending Friday's rally following reports that Saudi Arabia is preparing to prolong oil production cuts into next year.

Ashtead Group shares plummeted 10 percent after the equipment rental firm warned that annual profits will fall short of forecasts.

Catering group Compass Group fell more than 5 percent after annual profit missed expectations.

Halma rose nearly 2 percent after the safety, health and environmental-technology company bought the TeDan group of companies for an initial $89.1 million on a cash-free, debt free basis.

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