UK’s slumping local stocks reflect headache facing new leader ...Qatar

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UK’s slumping local stocks reflect headache facing new leader
source : Gulf Times ( Qatar ) () 42
Domestic UK stocks have had a rough year. And with recession looming and the pound plunging, it’s hard to see how things will get better anytime soon for a new prime minister on that front. Britain’s mid-cap index – made up of companies that are heavily dependent on the local economy – is down 20% this year, on course for its biggest-ever annual underperformance against the exporter-heavy FTSE 100. The steep losses show investor pessimism has set in over the economy, with the Bank of England saying a recession may stretch into 2024. “The FTSE 250 does clearly have its challenges,” Russ Mould, investment director at retail investing firm AJ Bell, said by e-mail. “The UK economy is faced with

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