FTSE 100 closes lower for third session ahead of UK data, BoE decision

Reuters

FTSE 100 closes lower for third session ahead of UK data, BoE decision

2024 6월 17 일, 오전 8:28 GMT

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FTSE 100 down 0.1%, FTSE 250 adds 0.2%

Superdry receives court approval for restructuring

UK CPI due Wednesday, retail sales and PMI Friday

Updated at 1551 GMT

By Pranav Kashyap and Purvi Agarwal

June 17 (Reuters) -London's FTSE closed lower for the third straight session on Monday, ahead of a week of key economic data and the Bank of England's rate cut decision, with industrial metal miners adding to declines after weak Chinese output numbers.

The blue-chip FTSE 100 .FTSE closed 0.1% lower, while the mid-cap FTSE 250 .FTMC was up 0.2%.

The FTSE 100 had marked its longest weekly losing streak in more than four years last week, after French President Emmanuel Macron's call for snap elections and hawkish Federal Reserve projections had rattled markets.

Investors held back from making big bets this week ahead of consumer price index (CPI) figures due on Wednesday and the Bank of England's next monetary policy meeting on Thursday.

"There is a keen eye trained on what's happening (with) interest rates this week with the BoE, and a bit of uncertainty going through the election campaign," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

Medical equipment and services stocks .FTNMX201020 fell 2.1%, the most among sectoral peers, while industrial miners .FTNMX551020 lost 0.9% on weak Chinese industrial data. MET/L

Declines were capped by non-life insurers .FTNMX303020 which gained 1.8%.

Investors will also scrutinise a slew of U.S. economic data, alongside speeches by several Federal Reserve officials, after the central bank last week projected only one interest cut this year.

Among individual stocks, Crest Nicholson CRST.L was up 2.6%, after Peel Hunt upgraded its rating to "Add" from "Hold".

Superdry SDRY.L gained 10% after the retailer said it had received court approval for its restructuring strategy.

Hochschild Mining HOCM.L climbed 3.3% to top the FTSE 250 after BMO reinstated its "outperform" rating.

Reporting by Pranav Kashyap and Purvi Agarwal in Bengaluru; Editing by Rashmi Aich and Alexander Smith

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