London’s FTSE 250 index fell on Tuesday and marked a second straight month of losses on concerns a worsening cost-of-living crisis would hurt economic growth, while shares of airlines fell as oil prices climbed.
The domestically focussed midcap index (.FTMC) closed 0.6% lower. Airlines such as EasyJet (EZJ.L), Wizz Air (WIZZ.L), and British Airways owner IAG slid between 3.3% and 5.6% as Brent crude climbed above $120 a barrel, signaling rising fuel costs.
The FTSE 100 ended the month buoyed by Unilever’s shares which jumped 9.4% after it named a billionaire activist to its board, heaping pressure on the company for a bigger revamp of strategy.
B&M shares tumbled 15.0% after the discount retailer warned of lower profit margins this year as customers spend less on discretionary products due to red-hot inflation.
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