The FTSE 100 closed 0.19% lower on Tuesday at 7,481.99 points along with European equity indices slipping into the red as earnings season wraps up, IG analyst Axel Rudolph writes. ---COMPANIES NEWS:Workspace Group Swings to Pretax Loss on Property Value Falls; Revenue RoseWorkspace Group swung to a pretax loss after property valuation losses, though trading profit and revenue rose. ---AO World Lifts Expectations on Improved Profit, MarginsAO World has raised profit expectations for fiscal 2024 and reported a swing to pretax profit in first half. However, GBP/USD implied volatility--which measures expected moves based on options pricing--hasn't reacted, leading to a "large negative vol risk premium." "But in the absence of a 'magic money tree,' the chancellor will be constrained in his giveaways," she says.

Source: Wall Street Journal November 21, 2023 18:17 UTC