The FTC has been in court to attempt to stop the deal over fears it will hurt competition in the video games market. Microsoft, which designs the Xbox console, is fighting both British competition regulators and the US Federal Trade Commission which have sought to block its $69bn (£54bn) takeover of Call of Duty-maker Activision. Senior technology correspondent Matthew Field has the details: Goldman Sachs analysts said the UK stock market’s low exposure to the tech sector, which has strongly outperformed this year, has also weighed on the returns.Ī senior Microsoft executive claimed the US tech giant could “spend Sony out of business” in the battle for control of the video games market, according to newly released emails. Retailers and other consumer-focused companies, like Dr Martens and TUI, have also slumped.īank of America strategists dubbed the UK the “stagflationary sick man of Europe” last week, pointing to a combination of high prices and economic contraction, a “crumbling” NHS and 6pc mortgage rates. The index, which is mainly made-up of domestically-focused companies, has fallen 5.8pc so far this year, worse than the benchmark FTSE 100, which is down 1.5pc.īy contrast, the S&P 500 index in the US has gained 13.2pc this year.īritain’s domestic shares, especially real estate and homebuilders, have been battered in 2023 as the Bank of England has continued to raise interest rates in a battle against inflation which still stands at 8.7pc, pushing up people’s mortgage repayments. Domestic shares in the UK have slumped into their longest losing streak since the lows of the pandemic amid worries about the outlook for the economy.Īlthough many global stocks are trading higher in a so-called bull market, the FTSE 250 index of Britain’s midcap companies dropped for the 10th straight day on Monday.
0 kommentar(er)
