FTSE LIVE: UK stocks plunge as Fed rates hike weighs on global markets; Stagecoach offloads US arm

FTSE LIVE: Interest rate held at 0.75%; UK stocks plunge as Fed US rates outlook weighs on global markets; Retail sales rebound with 1.4% rise

  • Footsie sheds 1.4% at the open as Fed outlook weighs on global markets 
  • Transport group Stagecoach has agreed to sell its north American business  
  • Kier said nearly two-thirds of its investors snubbed a £250 million cash call

The FTSE 100 sunk 1.4 per cent to 6,680 at the bell after declines on Wall Street, triggered by the Fed’s decision to hike interest rates for the fourth time in 2018, weighed on global sentiment.

Transport group Stagecoach has agreed to sell its north American business in a deal valuing the division at £214.4million, including debt, to Variant Equity Advisors. 

And barely a third of the shareholders in Kier Group have backed its £250million cash call. 

Global markets are in the red on Thursday after heavy declines on Wall Street overnight

Global markets are in the red on Thursday after heavy declines on Wall Street overnight

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Markets Articles | Mail Online

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