Fed Fears Weaken Sentiment At FTSE-100

(RTTNews) - FTSE 100 of the London Stock Exchange shed close to half a percent amidst fears that the recent data releases from the U.S. could derail the Fed's stated intentions to moderate the interest rate increases. The ISM PMI readings for non-manufacturing activity came in at 56.5 percent in November versus expectations of 53.3 and previous reading of 54.4.

FTSE 100 oscillated between 7,567.64 and 7,533.11 versus the previous day's closing level of 7,567.54.

The benchmark index of the London Stock Exchange is currently trading at 7,542.39, down 0.33 percent on an overnight basis.

In the 100-scrip index, only 31 are trading in the overnight green zone.

Rolls Royce Holdings topped with an uptick of 2.8 percent. Life insurer Phoenix rose 2.5 percent following announcement of incremental new business long-term cash generation target.

Packaging group Mondi topped the FTSE 100 fallers, with a 4.2 percent drop after Credit Suisse cut its rating from outperform to underperform and also revised its price target.

The GBP/USD pair gained 0.31 percent to trade at 1.2226 amidst the US Dollar Index dropping 0.24 percent to 105.04.

Yields on U.K.'s ten-year bonds decreased 0.05 percent to 3.0945% from the previous close of 3.0960%.

Earlier, the S&P Global/CIPS Construction PMI revealed a slowdown in construction activity in the U.K. with the November reading falling to a three-month low of 50.4, versus 53.2 in October. Retail sales meanwhile jumped 4.1 percent on a like-for-like basis in November, as compared to 1.2 percent in October, attributed to the winter-related purchases and the Black Friday boost.