U.K. stocks declined on Wednesday, as yields edged up ahead of a decision by the Federal Reserve on interest rates and the European Union announced a new sanctions package against Russia, including an embargo on Russian oil.
Investors also priced in a rate rise from the Bank of England on Thursday, with the central bank expected to hike interest rates to 1 percent to rein in inflation.
The benchmark FTSE 100 dropped 38 points, or half a percent, to 7,524 after closing up 0.2 percent on Tuesday.
Miners Anglo American and Rio Tinto fell around 1 percent on brokerage downgrades.
HSBC rose more than 1 percent after launching its planned $1bn share buyback.
Bookmaking holding company Flutter Entertainment jumped 5 percent after reporting higher revenue in the first quarter, thanks to its fast-expanding U.S. business.
Online fashion retailer Boohoo plunged 17 percent after a warning that revenue growth would be impacted in the first half.
FTSE 100 Declines Ahead Of Fed, BoE Rate Decisions
2022-05-04 09:36:27
