FTSE 100 Edges Lower After Bailey's Hawkish Comments
(RTTNews) - U.K. stocks declined on Friday amid uncertainty around the path of U.S. monetary policy and concerns over persistent deflationary pressures in China.
Investors were also spooked by comments from Bank of England Governor Andrew Bailey that future interest rate decisions by the central bank would continue to be tight.
The benchmark FTSE 100 was down 26 points, or 0.3 percent, at 7,619 after rising 0.3 percent on Thursday.
BP Plc rallied 2.1 percent and Shell added more than 1 percent as crude prices jumped nearly 3 percent on fears that the fighting between Israel and Hamas could destabilize the Middle East and crimp global supply.
Wealth manager St. James's Place plunged more than 15 percent on reports it is under pressure from regulators to overhaul its fee structure.
Avon Protection, the manufacturer of gas masks, helmets and body armor, jumped 4.7 percent after it reported stronger trading in the second half of its financial year to September.
Emerging markets asset manager Ashmore plummeted 6.6 percent after it reported an 8 percent drop in assets under management in its fiscal first quarter.
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