FTSE 100 Subdued After General Election Call

(RTTNews) - U.K. stocks were subdued on Thursday after Prime Minister Rishi Sunak called a general election for July 4.

Investors were also reacting to the results of a survey, which showed that growth across British businesses cooled noticeably this month.

The benchmark FTSE 100 was down 8 points at 8,362 after falling 0.6 percent on Wednesday.

National Grid shares plunged 9 percent after the electricity and gas utility unveiled plans to raise about 7 billion pounds ($8.9 billion) through a fully underwritten rights issue of 1.09 billion new shares.

Drax was down 8.7 percent, Pennon Group fell nearly 7 percent and United Utilities dropped more than 5 percent.

Wizz Air Holdings surged 5 percent after the low-cost airline returned to profit in FY24.

Hargreaves Lansdown jumped 12 percent after the investment platform rejected a surprise takeover offer from a group of private equity buyers.

Insurer Aviva dropped 1 percent despite reporting strong results for its first quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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