UK Stock Indices Hold Steady Ahead of Interest Rate Decision
UK's major stock indices remained largely unchanged as traders anticipate the Bank of England's interest rate decision. While the central bank is expected to maintain the rate at 4%, any deviations could influence market sentiment. Key movements included shifts in financial stocks and metal miners.
On Thursday, UK's primary stock indices showed minimal movement as the sterling stabilized near multi-month lows. Investors are keenly awaiting the Bank of England's imminent interest rate announcement.
The central bank is projected to keep rates steady at 4%. However, Goldman Sachs has speculated on a potential rate cut following softer inflation and wage data. This speculation has caused further angst among market players.
While the blue-chip FTSE 100 dipped slightly by 0.3%, advancements in financial and metal miner stocks were counterbalanced by declines in the energy and pharmaceutical sectors. Notably, oil and gas shares saw a dip, despite rising oil prices. Key financial stocks like HSBC and Standard Chartered rose, buoyed by reports of leniency from a potential budget tax raid.
Google News