Interest rates and Chinese economy weigh on investor sentiment

Kingspan closed up 0.63 per cent on Friday, as chief executive Gene Murtagh said he was “pleased with a strong first-half performance in a testing environment”.

Healthcare group Uniphar finished down 6.38 per cent while medical technology company Healthbeacon lost 5 per cent. Shares of industrial and electronic products distributor RS Group were down 3.57 per cent, after brokerage UBS downgraded the stock.European stocks fell on Friday to their lowest level in more than five weeks, fed by concerns over higher interest rates and the Chinese economy.

Shares of luxury ecommerce retailer Farfetch tanked to a record low on Friday, as the company delivered weaker than expected guidance. The company projected total gross merchandise value to be about $4.4 billion for 2023, compared with prior expectations of $4.9 billion. Rate-sensitive big technology and growth stocks such as Apple, Microsoft, Tesla and Nvidia slipped on Friday, as the tech-heavy Nasdaq hit an over two-month low.

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