Finance
British stocks subdued after data shows zero growth in Q3
Published by Global Banking & Finance Review®
Posted on December 23, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 23, 2024
2 min readLast updated: January 27, 2026
UK's FTSE 250 fell and FTSE 100 stayed flat as Q3 growth stalled at 0.0%. Business confidence hit a low, impacting market sentiment.
(Reuters) - The UK's midcap FTSE 250 index fell on Monday while the FTSE 100 was flat, after data showed British economic output failed to grow in the third quarter, adding to the signs of a slowdown.
The domestically focussed FTSE 250 was down 0.3% as of 0920 GMT, while the export-oriented FTSE 100 was down 0.04% after logging its worst week in more than a year on Friday.
The Office for National Statistics lowered its estimate for the change in gross domestic product output to 0.0% in the July-to-September period, down from a previous estimate of 0.1% growth.
It is the final key indicator for the year, while investors assessed the growth prospects for 2025.
Separately, a survey from Lloyds Bank showed confidence among businesses fell to its lowest level of 2024 in December.
The Bank of England last week kept its borrowing costs on hold, and estimated the economy will show zero growth in the fourth quarter.
Direct Line rose 2.8% after insurer Aviva agreed to buy its smaller rival in a 3.7 billion pound ($4.65 billion) cash-and-stock deal.
In contrast, Petrofac dropped 24.5% after the oilfield services provider said on Sunday it had entered into a binding agreement with key financial creditors on the terms of a comprehensive restructuring.
Among sectors, the media index led the sectoral losses and fell 0.7%.
(Reporting by Nikhil Sharma in Bengaluru; Editing by Krishna Chandra Eluri)
The article discusses the impact of zero economic growth in Q3 on British stock indices, particularly the FTSE 250 and FTSE 100.
The FTSE 250 fell by 0.3% while the FTSE 100 remained flat after a challenging previous week.
The survey indicated a decline in business confidence to its lowest level in 2024.
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