FTSE 100 Drifts Lower In Lackluster Trade

U.K. stocks were subdued on Friday, a day after the Bank of England cut interest rates as expected but signaled stickier inflation.

The benchmark FTSE 100 was down 21 points, or 0.3 percent, at 8,119 after declining 0.3 percent on Thursday.

Vistry Group shares plummeted 16 percent. The housebuilder announced today that it has revised down its expectations for annual adjusted profit before tax because of issues in its South Division, adjustments in other regions, and reduced expectations for completions.

Property portal Rightmove edged up slightly after releasing its first trading update since rejecting the final of four takeover offers by Australia’s REA Group.

AstraZeneca rallied nearly 2 percent. It was said the Phase III WAYPOINT study of AstraZeneca and Amgen’s Tezspire in patients with chronic rhinosinusitis with nasal polyps met its both co-primary endpoints.

British Airways-owner IAG jumped almost 7 percent after reporting a bigger-than-expected quarterly profit.