Ashtead slides on disappointing forecast
Spirent shares set for best day in over 2 decades
Inchcape dips after warning of moderated growth
FTSE 100 down 0.3, FTSE 250 up 0.1

March 5 Reuters Britain39;s bluechip stock index fell to a near threeweek low on Tuesday, dragged down by commoditylinked shares and Ashtead Group, while telecommunications testing firm Spirent surged nearly 60 following a buyout deal.

The FTSE 100 slipped 0.3 to touch its lowest level since Feb. 16.

Shares of commodity majors such as BP, Shell and Glencore fell about a percent each as oil and metal prices dipped after pledges by China to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors.

British equipment rental firm Ashtead dropped 7.8, falling the most among FTSE 100 components, after it forecast fullyear group rental revenue at the lower end of 1113 growth range.

Weighing on the mood further was a survey that showed British consumer spending slid in February, as bad weather kept shoppers at home and households remained cautious about spending in the face of high borrowing costs and inflation.

The pain felt by nonfood volumes continues, as consumers continue to prioritise the essentials, said Sophie LundYates, lead equity analyst at Hargreaves Lansdown.

While volumes at food stores are painting a better story, the path to improved profits isn39;t a given, as lower price inflation takes the wind out of sails.

Finance minister Jeremy Hunt,…