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Rate Hike Fears Weaken Sentiment At FTSE-100
(RTTNews) - FTSE 100 of the London Stock Exchange shed more than quarter percent amidst fears over the length and depth of rate hikes by central banks. The Fed's decision is due later in the day whereas the Bank of England would announce its decision on Thursday.
Meanwhile, the annual inflation rate in the U.K. slowed more than expected to 10.7 percent in November, from 11.1 percent in October, whilst markets were expecting a smaller drop to 10.9 percent.
FTSE 100 oscillated between 7,460.35 and 7,490.80 versus the previous day's closing level of 7,502.89.
The benchmark index of the London Stock Exchange is currently trading at 7,482.86, down 0.27 percent on an overnight basis.
In the 100-scrip index, only 28 are trading in the overnight green zone.
Fresnillo topped with an uptick of 3.1 percent. BT Group and Harbour Energy have both gained more than 2 percent.
Ocado group declined 3.9 percent whereas International Consolidated Airlines lost 2.7 percent.
The GBP/USD pair gained 0.20 percent to trade at 1.2379 amidst the US Dollar Index dropping 0.12 percent to 103.86.
Yields on U.K.'s ten-year bonds increased 1.23 percent to 3.3375% from the previous close of 3.2970%.
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