BUSINESS CLOSE: FTSE 100 dips 1.7% as stocks turn lower again

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BUSINESS CLOSE: FTSE 100 dips 1.7% as stocks turn lower again; Travis Perkins sales surge; Abrdn profits accelerate

By Mike Sheen For This Is Money

Published: | Updated:


A further day of selling has engulfed global markets, with the FTSE 100 closing down 1.7 per cent at 7,330.2 and the FTSE 250 tumbling 2.8 per cent to 20,500.6.

Shares in the Daily Mirror publisher Reach tumbled 25 per cent after it warned that higher printing and energy costs will dent profits.  

Building materials supplier Travis Perkins posted a 24 per cent rise in annual revenues in 2021 to £4.6billion as the firm successfully navigated challenges around inflation and product availability. 

British asset manager Abrdn saw adjusted operating profits rise by 47 per cent in 2021 to £323million, with chief executive Stephen Bird hailing a ‘reset year’ in which the firm made ‘huge strides forward’ in its three-year growth strategy. 

Investors around the world are set for bumper payouts this year with dividends set to hit new record highs and companies increasingly opting for share buybacks, a new report reveals.

Global dividend payouts are expected to reach a fresh record of $1.52trillion in 2022, which would represent a headline increase of 3.1 per cent from 2021, according to the latest Janus Henderson global dividend index.

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Abrdn reported an increase in revenue for the full year for the first time since the merger of Standard Life and Aberdeen Asset Management  

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