UK Stocks Turning In Mixed Performance

(RTTNews) - The UK stock market's benchmark FTSE 100 is roughly flat about an hour past noon on Monday, with stocks turning in a mixed performance. Shares of mining companies are exhibiting weakness due to data showing a slowdown in China's industrial output in the month of August.

Investors are awaiting the crucial policy announcements from the Federal Reserve and the Bank of England later this week.

The BoE is expected to hold rates steady, while the U.S. Federal Reserve is widely seen lower its interest rate by 25 basis points, if not by a larger quantum.

The benchmark FTSE 100 was down 1.60 points at 9,289.59 a little while ago.

Sainsbury (J) is gaining about 5.3%. The company has confirmed that it has ended talks to sell Argos to JD. Com, citing unfavourable terms. It is now expected that new suitors will emerge to acquire Argos.

Marks & Spencer is up nearly 3% and Centrica is rising 2.8%. Beazley is up 2.7%, while Endeavour Mining, ICG, DCC and Persimmon are gaining 2 to 2.5%.

BT Group and AstraZeneca are down 2.5% and 2.3%, respectively. Fresnillo, Airtel Africa, GSK and Haleon are lower by 1.1 to 1.3%.

UK house prices dropped in September after several months of muted growth as competitive pricing became more vital in the south, the property website Rightmove said Monday.

Average asking prices edged down 0.1% from the previous year in September. The fall was driven by London and the south, as the south underperformed the rest of region.

The number of homes coming for sale in the south increased 9% on 2024, compared with 2% elsewhere. It took an average of five days longer to find a buyer.

Nonetheless, overall the number of sales being agreed was 4% ahead of this time last year.