Private equity firm 3i was one of the most affected stocks during a new sell-off in London amid new concerns about industries facing consumers.

3i fell 11 percent, or 146 retirees, to 1,178 pence when investors recalled that much of its portfolio consists of consumer businesses prone to rising cost of living and the threat of recession.

One of its key investments is the Dutch discount retailer Action, which has about 2,000 stores across mainland Europe.

3i fell 11% as investors recalled that much of its portfolio consists of consumer businesses prone to rising cost of living and the threat of recession

At a recent meeting, the 3i team reportedly wanted to highlight the “likely sustainability of Action trade” and assure the strength of a wider portfolio of non-food discounters that could raise the eyebrows of many investors looking for lucrative deals.

Other 3i consumer investments include the Danish furniture store BoConcept, the Dutch optical company Hans Anders, the German online store Luqom and the American travel reward platform Arrivia.

The private equity partner group Bridgepoint Group has not fallen much, losing 2.2 percent, or 6 pence, to 273 pence, but it also owns many consumer-focused companies.

Under the weight of these worries, the FTSE 100 plummeted after three sessions of relative calm, dropping more than 200 points in morning trading, and later ended down 1.82 percent, or 135 points, to 7,302.74.

The grim reports of retailers Walmart and Target across the pond have struck stocks that are subject to household spending.

Manufacturer Ben & Jerry’s Unilever fell 4.8 percent, or 174.5 pence, to 3,451.5 pence, and Guinness Diageo brewery fell 5.1 percent, or 191 pension, to 3,570 pence.

Tesco fell 4.1 percent, or 11 points, to 255.1 points, and Kingfisher fell 3.3 percent, or 8.3 points, to 245.2 points. Disappointing earnings and concerns about economic growth is causing investors on both sides of the Atlantic.

Stock Clock – Redx Pharma

Redx Pharma has gone against the type of biotech sector by being able to raise the money needed for prosperity.

It brought Quickfire £ 30 million, issuing new shares at 59 pensions each, a modest discount before closing on Wednesday.

The company has about £ 56 million to develop drugs for cancer and fibrosis.

The goal is to get these assets to assess inflection points, which usually means finding a partner who is willing to license them.

Shares rose 1.7 percent, or 1 point, to 60 pence.

“The concern is that Target’s pain is a precursor to an even bigger fight for retailers,” said Suzanne Streeter, senior investment analyst at Hargreaves Lansdown.

Retail real estate groups also felt the heat: London-based Great Portland Estates fell 5 percent, or 34 pensions, to 640 pensions a day.

Portland’s grand leader Toby Courto said inflation and continued macroeconomic and geopolitical uncertainty, as well as tightening planning rules, have “stifled supplies” in the capital – although he suggested it contributes to “quality escapes”. .

The results for the full year showed an increase in portfolio valuation of 6.1 percent, entirely due to its offices, with retail prices at the same level.

On a gloomy day, it was difficult for the markets to choose a winner from the highest echelons of London, as only a few stocks are trading in the black. Dechra Pharmaceuticals, a supplier to the veterinary sector, rose 4.2 percent, or 136 pensions, to 3,400 pensions, and generics maker Hikma Pharmaceuticals rose 1.5 percent, or 25 pensions, to 1,703 pensions, probably the best among the rest last year. hats.

While competing pub groups offered little joy the day before, Young’s threw peanuts for fear of consumer spending, boss Patrick Dardis welcomed last year’s return to profits and resumed dividend payouts.

“Young is firmly back in business, having the firepower to ensure further growth,” he said. But stocks were toppled by the broad sector, falling 0.45 per cent, or 6 pence, to 1,326 pence.

To make a big profit, investors had to search lower in the ranks, where law firm and professional firm Knights Group charged 32.4 per cent, or 30.6 pence higher, to 125 pensions, after confirming that profits would be at least consistent with a profit warning in March. stocks lose about three-quarters of their value.

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