The FTSE 100 slipped more than half a percent, diverging from the positive stock market sentiment in much of Europe that followed dovish comments from an ECB official. Recent comments from Bank of England officials on continuing the restrictive monetary policy stance also weighed on sentiment.
FTSE 100 oscillated between 7,512.96 and 7,462.49 as compared with the previous day’s closing level of 7,512.96.
The benchmark index of the London Stock Exchange is currently trading at 7,468.13, having slipped 0.60 percent on an overnight basis.
In the 100-scrip index, only 34 are trading in the overnight positive zone.
BT Group surged 2.4 percent. Segro, United Utilities Group, Unite Group, Land Securities Group, Airtel Africa, have all gained more than 1 percent.
Ashtead Group slipped 3.9 percent. Entain, Centrica, Anglo American and Barclays have all slipped more than 2 percent.
Dollar Index edged down 0.07 percent to 103.64, whereas the GBP/USD pair decreased 0.02 percent overnight to 1.2629. The sterling ranged between $1.2607 and $1.2646 in the day’s trade.
Yields on U.K.’s ten-year bonds dropped 0.13 percent to the level of 4.1915 percent. The same was 4.197 percent a day earlier.
Data released earlier showed the S&P Global/CIPS UK Services PMI being revised slightly higher to 50.9 in November, versus the preliminary estimate of 50.5. The reading was 49.5 in October.
Market Analysis
FTSE 100 Slips Amidst Rate Cut Uncertainty
2023-12-05 11:59:27
