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London's stock markets finished with a mixed performance on Thursday, as investors digested a slower-than-expected GDP growth reading from the United States, while a slew of well-received earnings underpinned the top-flight index.
US drugmaker Bristol Myers Squibb on Thursday announced plans to cut its workforce by 6% as part of a $1.5bn cost-savings programme, as it reported better-than-expected results for the first quarter.
Consumer goods giant Reckitt Benckiser said on Wednesday that it was on track to deliver its full-year revenue and profit targets as it posted a rise in first-quarter like-for-like net sales.
Economic activity in the U.S. slowed last month, the results of two closely followed surveys revealed.
UK banks are leaving themselves open to “severe, unexpected losses”, by failing to properly measure how exposed they are to the $8tn private equity industry, the Bank of England has warned. In a speech on Tuesday, Rebecca Jackson, a senior executive at the central bank, said there was a “creeping sense of complacency” among lenders, who – despite a boom in loans and financing to the sector – had almost no ability to put together data “or even appreciate its crucial importance”. – Guardian