London's FTSE nudges lower for week after record run

Reuters

London's FTSE nudges lower for week after record run

17. Mai 2024 um 8:40 vorm. GMT

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 2-London's FTSE nudges lower for week after record run</title></head><body>

Haleon falls after GSK offloads remaining stake

Landsec down despite smaller annual loss

FTSE 100 down 0.2%, FTSE 250 down 0.4%

Updated at 1604 GMT

By Shubham Batra and Purvi Agarwal

May 17 (Reuters) -London's FTSE 100 ended the day and the week slightly lower on Friday, pausing after a run of record highs and ahead of a reading of UK inflation next week that will set near-term expectations for the timing of a first interest rate cut.

The blue-chip FTSE .FTSE eased 0.2% on the day and was down 0.1% for the week, just snapping three weeks of gains. The midcap FTSE 250 index .FTMC fell 0.4%.

The personal goods sector .FTNMX402040 led Friday's decline, falling 2.3%, followed by automobile parts .FTNMX401010, which slipped 1.7%.

A 2.4% gain in precious metal miners .FTNMX551030, tracking higher gold XAU= prices and a surge in silver XAG=, partly offset the losses. GOL/

For the week, the industrial support services sector .FTNMX502050 outperformed, finishing 3.3% higher, while the energy sector .FTNMX601010 sector lagged with a 4.1% drop.

"It's more just pausing for breath after quite a spectacular rally across last week and this week," said Fiona Cincotta, senior market analyst at City Index.

"We're seeing consolidation as investors wait for the UK inflation data next week."

UK consumer price inflation data is expected on Wednesday and will be parsed for clues on the timing of a first Bank of England interest rate cut.

Traders are currently pricing in a 52.6% chance of a 25 basis point cut in June. 0#BOEWATCH

Consumer healthcare firm Haleon HLN.L fell 1.0% after drugmaker GSK GSK.L sold its entire remaining stake in the company, raising 1.25 billion pounds ($1.52 billion).

Auto Trader Group AUTOA.L was down 3.3% after Morgan Stanley cut its rating and target price on the stock.

Land Securities Group LAND.L fell 2.6% despite the commercial property firm posting a smaller annual loss, with elevated interest rates continuing to weigh on the valuation of its buildings.

Reporting by Shubham Batra and Purvi Agarwal in Bengaluru; Editing by Nivedita Bhattacharjee and Varun H K, Kirsten Donovan

 
For related prices, Reuters users may click on - *
UK stock report .L
FTSE index: 0#.FTS6
techMARK 100 index: .FTT1X FTSE futures: 0#FFI:
Gilt futures: 0#FLG: Smallcap index: .FTSC
FTSE 250 index: .FTMC FTSE 350 index: .FTLC
Market digest: .AD.L Top 10 by vol: .AV.L
Top price gainers: .NG.L Top % gainers: .PG.L
Top price losers: .NL.L Top % losers: .PL.L

* For related news, click on - *
UK hot stocks: HOT and GB Wall Street: .N
Gilts report: GB/ Euro bond report GVD/EUR
Pan European stock report: .EU
Tokyo stocks: .T HK stocks: .HK
Sterling report: GBP/ Dollar report: USD/

* For company prices, click on - *
Company directory: UKEQ By sector: FTAX

* For pan-European market data, click on - *
European Equities speed guide................ EUR/EQUITY
FTSE Eurotop 300 index........................... .FTEU3
DJ STOXX index................................... .STOXX
Top 10 STOXX sectors........................ .PGL.STOXXS
Top 10 EUROSTOXX sectors................... .PGL.STOXXES
Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S
Top 25 European pct gainers.................... .PG.PEUR
Top 25 European pct losers..................... .PL.PEUR

</body></html>