logo
Plus   Neg
Share
Email

FTSE Edges Lower Ahead Of BoE Policy

The U.K. stock market is slightly lower Thursday morning, with investors looking ahead to the Bank of England's monetary policy announcement, due in a few minutes.

Worries about U.S.-China trade dispute have subsided a bit on reports, the U.S. is in the early stages of proposing a new round of trade talks with China in the near future. The U.S. Treasury Secretary Steven Mnuchin has reportedly sent an invitation for talks to senior Chinese officials, proposing a meeting in the next few weeks.

The benchmark FTSE 100 is down 25.53 points, or 0.35 percent, at 7,287.83. On Wednesday, the index gained 0.55 percent.

Mediclinic International, Marks & Spencer, WPP, Imperial Brands, SSE, ITV, Burberry Group and Relx PLC are down 1 to 3 percent.

Meanwhile, Glencore, RBS, Rio Tinto, Anglo American and Antfagasta are gaining 1.3 to 2 percent.

The Bank of England's nine-member Monetary Policy Committee, led by Governor Mark Carney, which will announce its policy at 7.00 am ET., is widely expected to keep the key rate unchanged at 0.75 percent and quantitative easing at GBP 435 billion.

Meanwhile, UK house price balance dropped in August largely due to the weakness in London, the Royal Institute of Chartered Surveyors reportedly said Thursday.

The national house price balance slid to 2 percent in August from 4 percent in July.

House price data released by the Lloyds bank subsidiary Halifax and IHS Markit, last week, showed that house prices rose only 0.1 percent on month in August following July's 1.2 percent increase.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Market Analysis

Follow RTT