U.K. stocks gave up early gains to edge lower on Thursday amid concerns over the pace of recent prices increases and the prospect of higher interest rates.
The benchmark FTSE 100 was down 25 points, or 0.3 percent, at 7,564 after closing 0.4 percent higher the previous day.
Miners fell across the board despite China stepping up its monetary easing efforts by cutting its mortgage reference rate for the first time in nearly two years.
Deliveroo advanced 2.7 percent. The online food delivery company said the gross transaction value (GTV) of orders on its platform rose 36 percent year-on-year in the fourth quarter.
Primark owner Associated British Foods fell 1.5 percent. The company said around 400 jobs are being cut across the fashion chain’s U.K. stores as part of an overhaul of its retail management team.
Market Analysis
FTSE 100 Gives Up Early Gains Amid Rate Hike Jitters
2022-01-20 09:24:25
