22-05-2025
FTSE 100 Live: UK Stocks Sink After US Selloff and Oil Price Slide
It's not been a good day for UK markets. The big story globally has been a loss of confidence in government debt after a Treasury selloff in the US, due to a rising deficit, spread across to Europe. That wasn't helped by UK public finance data which showed its own deficit having grown more than expected last month.
Gilt yields climbed at the longer end of the curve, with the yield on the 30-year security at one point looking set to close at its highest since 1998.
That was even as PMI data showed an improvement in the UK's private sector output -- with the rate of contraction slowing -- largely down to a pickup in services. Manufacturing activity shrank more than expected, with the sector shedding jobs at the fastest pace for five years.
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