British online retailer AO World (AO.) spooks investors as it posts widening full losses and flags a possible UK consumer spending slowdown. That drags the share price down more than 6% to 135.7p, a long way off near 190p highs just before Christmas.

UK challenger bank Shawbrook (SHAW) has rejected a raised and final £868m offer from private equity groups trying to take control of the lender. That the stock remains largely flat at 338p - valuing the business at £846m, suggests investors have not yet given up hope that a deal can be struck.

Wound care products maker ConvaTec (CTEC) head the FTSE 100 loser board on Tuesday, off 5% at 326.2p, as the share price adjusts to the group’s huge £805m fund raise priced at 322.p per share announced yesterday.

Wider London markets are as gloomy as the British weather with every major index in decline. FTSE 100 falls are modest, however, down around 12 points to 7,514.

Aggreko (AGK), the world's largest temporary power provider, is losing its chief financial officer Carole Cran after 13 years in the job. She is joining Scottish infrastructure funds-owned company Forth Ports as its new head of finance. Shares in Aggreko drift 1.2% lower to 864.5p as investors mull potential disruption to the UK company.

British Airways has commissioned an independent study to look into the shutdown of its data center last month that knocked out its systems and stranded 75,000 people over a bank holiday weekend. This is the response of parent group International Consolidated Airlines (IAG) as it attempts to draw a line under what has been a brand damaging incident. IAG shares make very modest gains to 594.5p on Tuesday.

Elsewhere in the airline industry, budget carriers EasyJet (EZJ) and Ryanair (RYA) both report a jump in May passenger numbers despite worries about UK tourism. EasyJet stock trades 1.6% higher at £13.66, the Footsie’s biggest riser on Tuesday, while Ryanair is marginally off at €18.02.

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Issue Date: 06 Jun 2017