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China’s Covid lockdown throws doubt over Renishaw’s 2022 performance as engineer cuts guidance featured picture

China’s Covid lockdown throws doubt over Renishaw’s 2022 performance as engineer cuts guidance

UK engineering firm Renishaw (RSW) cut its annual profit forecast after warning of potential disruption to its business from the latest Covid lockdowns in key market China. Shares in the FTSE 250 company initially fell sharply before recovering as morning trading progressed, marking a 0.5% decline by 9.30am on Tuesday (10 May 2022) to £41.67. The stock had fallen around 15% this year. The ...
FTSE 100 closes more than 2.3% off as nerves fray over China Covid curbs and looming recession risk featured picture

FTSE 100 closes more than 2.3% off as nerves fray over China Covid curbs and looming recession risk

Stocks across the UK and Europe ended Monday deep in the red, following news from China that its Covid curbs have caused the country’s exports to plummet to their lowest levels in almost two years. China’s export growth slowed in April, customs data showed, as a Covid resurgence shuttered factories, sparked transport curbs and caused congestion at key ports. Export growth plunged to ...
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