U.K. stocks were marginally lower on Monday as a rising British pound weighed on export-oriented companies.
Investors also shifted focus to a slew of key central bank rate decisions this week, including the Bank of England’s interest-rate announcement due on Thursday.
The benchmark FTSE 100 was down 3 points at 8,269 after gaining 0.4 percent on Friday.
The pound rose to its highest in more than a week and gold prices hovered near record levels as investors raised their bets of a more aggressive Federal Reserve rate cut on Wednesday.
In corporate news, insurer Phoenix Group Holdings tumbled 3.6 percent after dropping the sale process of its SunLife business.
Playtech jumped 8 percent. The gambling technology firm said it expects 2024 adjusted core profit to be slightly ahead of market expectations.
Market Analysis
FTSE 100 Subdued As Pound Rises On Bets Of Aggressive Fed Rate Cut
2024-09-16 09:14:48
