Investing
UK’s FTSE 100 little changed after holiday break; indexes set for weekly gains
Global Banking & Finance Review®
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(Reuters) – Britain’s benchmark FTSE 100 was flat on Friday as losses in mining companies countered gains in energy stocks, and both indexes were on track to clock gains for the holiday-shortened week.
(Reuters) – Britain’s benchmark FTSE 100 was flat on Friday as losses in mining companies countered gains in energy stocks, and both indexes were on track to clock gains for the holiday-shortened week.
The blue-chip FTSE 100 was up 0.05%, while the midcap FTSE 250 was down 0.25% at 0938 GMT.
The energy sector rose 0.5% as oil prices nudged up on expectations that economic stimulus efforts would prompt a recovery in the world’s biggest oil importer, China. [O/R]
However, heavyweight miner Anglo American slid 1.2%, dragging the metals and mining index down 0.4% as a strong dollar weighed on metal prices.
The construction and materials sector led sector losses and slid 0.8%.
Although the year was marred by domestic economic slowdown, the two main indexes remained resilient and were on track to log yearly gains.
Finance Minister Rachel Reeves’ October budget announcement, which included 25 billion pounds ($31 billion) of tax increases for employers, added to uncertainty for businesses.
In 2025, the focus will be on what Donald Trump does when he arrives at the White House, as investors remain uncertain whether the U.S. president-elect could extend his tariff threats to Britain as well.
Investors will also be monitoring the pace of the Bank of England’s interest rate cuts, with the central bank already suggesting a gradual pace for its policy easing cycle.
Traders estimate just about 51 basis points worth of rate cuts by the end of 2025.
(Reporting by Nikhil Sharma; Editing by Abinaya Vijayaraghavan)
The FTSE 100 is a stock market index that represents the 100 largest companies listed on the London Stock Exchange, based on market capitalization.
Mining stocks are shares of companies involved in the extraction of minerals and metals. Their performance can be influenced by commodity prices and economic conditions.
The Bank of England is the central bank of the United Kingdom, responsible for monetary policy, issuing currency, and maintaining financial stability.
Interest rates are the cost of borrowing money, expressed as a percentage of the loan amount. They are influenced by central bank policies and economic conditions.
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