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FTSE 100 Holds Steady Ahead Of US CPI Revisions
(RTTNews) - U.K. stocks held steady on Friday after Tesco announced a deal to sell its banking arm.
The pound to dollar rate showed resilience above 1.2620 ahead of revisions to U.S. CPI data.
The benchmark FTSE 100 was marginally higher at 7,596 after declining 0.4 percent on Thursday.
Bellway fell about 1 percent. The home builder reported weak housing revenue in its first half, reflecting lower completions and pricing.
Victrex shed 2.3 percent. The polymers group said it had a "soft start" in its first quarter and therefore making full-year guidance could be tricky.
Tesco gained 1 percent. The groceries and general merchandise retailer announced a deal to sell certain banking operations to lending major Barclays.
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U.K. stocks are turning in a mixed performance in cautious trade on Friday, amid a lack of fresh triggers. Investors are awaiting Fed Chair Jerome Powell's speech later in the day at the Jackson Hole Symposium, for clues about U.S. central bank's interest rate move next month.
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U.S. Dollar Rises Ahead Of Fed's Powell Speech
The U.S. dollar strengthened against other major currencies in the European session on Friday, as traders expect speech by Fed Chair Jerome Powell at the Jackson Hole Symposium.
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CAC 40 Up Slightly In Lackluster Trade
French stocks are mostly subdued on Friday with investors refraining from making significant moves, choosing to wait for key speeches from central bank chiefs at the Jackson Hole Symposium. The focus is on Fed Chair Jerome Powell's speech for clues about interest rate cuts in September.
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