adminback into focus, and Reckitt Benckiser fell sharply as it announced the shock retirement of its star chief executive.
British consumer goods group Reckitt Benckiser fell 7,7 percent after the firm said chief executive Bart Becht is to retire, six months after the departure of its chief financial officer.
“It was one of the most highly regarded management teams, I would have said, in the FTSE,” Martin Dolan, an analyst at Espirito Santo, says.
“The fact that they have both gone now I think is basically going to cause some people to reassess (the situation).”
The FTSE 100 was down 30,46 points, or 0,5 percent, at 5 979,98, having closed 0,8 percent higher at 6 010,44 in the previous session.
Miners fell along with base metal prices as investors shied away from riskier assets. Analysts cited concerns over Chinese inflation.
“(Chinese inflation) might well be a focus. Overnight the Asian markets were tangibly cut and we saw interest rate policy in likes of Singapore increase, which may have add a little to nerves as we wait for those Chinese inflation (and GDP figures today),” said Keith Bowman, analyst at Hargreaves Lansdown.
Chinese inflation in March accelerated to 5,4 percent from a year earlier, Hong Kong media said yesterday, which will add weight to the government’s vow to rein in price rises.
Economists polled by Reuters had expected annual inflation in March to be 5,2 percent, up from February’s 4,9 percent. – Reuters.
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