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US close: Stocks end session in the red as earnings and IMF global growth downgrade take centre stage
Wall Street stocks closed lower on Tuesday as corporate earnings, geopolitical tensions and a downgrade in global growth forecasts were all in focus throughout the session.
RBC Capital Markets downgraded fast-fashion retailer Boohoo to 'sector perform' from 'outperform' on Tuesday, slashing the price target to 150. 0p from 330. 0p.
The International Monetary Fund cut global growth forecasts on Tuesday, citing a number of threats to the world's economic recovery from the Covid-19 pandemic.
Wall Street stocks were firmly in the red early on Tuesday as corporate earnings, geopolitical tensions and a downgrade in global growth forecasts were all in focus at the bell.
Analysts at Berenberg reiterated their 'hold' rating on food manufacturer Bakkavor on Tuesday, stating they were still playing a "waiting game" when it came to the stock.
Wall Street futures were pointing to losses ahead of the bell on Tuesday after major indices managed to eke out some modest gains in the previous session.
Travel and concierge company Ten Lifestyle said on Tuesday that it had secured new strategic contract wins and renewals with wealth managers across the UK, Europe, the Middle East and Africa.
Animal health business Animalcare said on Tuesday that full-year earnings were anticipated to be in line with market expectations after revenues modestly improved in the twelve months ended 31 December.
Recruitment and training group Staffline said on Tuesday that full-year underlying operating profits had more than doubled year-on-year, underpinning the group's "increased confidence" for 2022.
Exploration and production firm Capricorn Energy said on Tuesday that it will return approximately $700. 0m to shareholders as production growth at its newly acquired Western Desert Assets in Egypt beat expectations.
Pub landlord Marston's cautioned on Tuesday that sales had taken a hit in the eight weeks ended 12 January as a result of the spread of the Covid-19 Omicron variant over the festive period.
Training programmes provider Northcoders said on Tuesday that its 2021 full-year underlying performance had been in line with expectations.
Compound semiconductor wafer products supplier IQE said on Tuesday that full-year revenues and capex were both expected to be in line with previous guidance.
Capricorn Energy's Egyptian production growth beats expectations, TI Fluid Systems FY revenues boosted by 'robust' performance
London pre-open The FTSE 100 was being called to open 46. 0 points higher ahead of the bell on Tuesday after closing out the previous session 2. 63% lower at 7,297. 15.