UK markets experienced a decline following reports that the economy showed no growth in the third quarter.
The internationally-oriented FTSE 100 index fell by 0.9%, while the domestically-focused FTSE 250 index saw a larger drop of 2.2%.
The British economy reported zero growth for the three months ending in September, narrowly escaping a downturn.
Precious metals miners saw their shares fall by up to 1.9%, and those in industrial metals by up to 1.2%.
Nonferrous metal prices dipped in response to assertive statements from US Federal Reserve officials, including Chairman Jerome Powell, indicating that additional interest rate increases might be necessary to combat inflation.
Diageo’s shares faced their steepest decline since 1997, plunging by 13.2% after the spirits giant forecasted lower profits due to diminishing sales in Latin America and the Caribbean.
UK housebuilder Redrow announced it anticipates its annual profits and revenues to hit the bottom of its projected range, impacted by a lacklustre autumn real estate market. The company’s shares dropped by as much as 7.1%, contributing to a sector-wide decline of up to 2.3%.
