London Stocks Edge Lower Amid Global Interest Rate Cuts
London stocks were set to end the week lower as investors evaluated central bank decisions and inflation concerns. The FTSE 100 remained flat, and the mid-cap FTSE 250 fell 0.6%. While major brokerages predict no more BoE rate cuts, central banks globally cut rates, boosting market confidence.
As the trading week drew to a close, London stocks were poised for a slight decline. Investors focused on central bank decisions, with the U.S. Federal Reserve at the forefront. Inflation worries lingered, impacting market sentiment.
The FTSE 100 remained stable by mid-morning on Friday, with the index heading for a minor weekly dip. The FTSE 250 saw a sharper 0.6% drop, pressured by Bank of England's decision to hold rates after its previous cut, as issues of inflation and growth persist.
Major investment firms expect the BoE to refrain from further cuts for the rest of the year. Meanwhile, rate cuts by the Fed, Canada, and Norway bolstered market optimism. Notably, retail sales growth in Britain exceeded expectations, yet economic concerns remain prevalent.
(With inputs from agencies.)
Google News