FTSE 100 slides as rate worries persist, Standard Chartered reverses gains

(Reuters) - UK's FTSE 100 slipped on Friday, as worries over higher interest rates dented sentiment globally, although data showed that the British economy narrowly avoided entering a recession in the fourth quarter of 2022.

The blue-chip FTSE 100 fell 0.4% by 0813 GMT after hitting a record high in the previous session. The domestically exposed FTSE 250 also dipped 0.4%.

Standard Chartered tumbled 5.8% after First Abu Dhabi Bank (FAB) said it was not currently evaluating an offer for the British bank. Its shares surged over 11% in the previous session after a report said FAB was considering reviving the bid.

British sports and fashion retailer JD Sports fell 1.5% after Germany's Adidas flagged that it expects a high single-digit decline in sales this year.

Britain's economy showed zero growth in the final three months of 2022, figures from the Office for National Statistics showed, meaning it narrowly avoided entering recession, in-line with what most economists were anticipating.

(Reporting by Sruthi Shankar in Bengaluru; editing by Uttaresh.V)