UK shares slip, Cineworld up on December box office recovery

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Jan 14 (Reuters) – UK shares slid on Friday, reflecting weak investor sentiment in global markets on fears about faster U.S. interest rate hikes, although data pointing to a much stronger-than-expected economic recovery in November helped limit losses.

The blue-chip FTSE 100 slipped 0.2percent by 0817 GMT, tracking Asian and European peers lower after multiple Federal Reserve officials were out talking about inflation and interest rate hikes, driving Wall Street indexes lower on Thursday.

Still, the FTSE 100 was on course for a fourth consecutive weekly gain.

Data showed Britain’s economy grew by a much stronger-than-expected 0.9percent in November, finally taking it above its size just before the country went into its first COVID-19 lockdown.

Cineworld shares rose 2.7percent as its box office sales recovered in December due to the success of Marvel superhero film “Spider-Man: No Way Home”.

Discount retailer Bandamp;amp;M European Value Retail fell 4.1percent after its share sale announcement. (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu)

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