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FTSE 100 Edges Lower Amidst Monetary Policy Concerns
(RTTNews) - FTSE 100 of the London Stock Exchange edged lower, unlike its European peers, as world markets brace for the monetary policy decisions by the Federal Reserve, the ECB and the Bank of England over the coming weeks.
FTSE 100 oscillated between 7,599.40 and 7,638.22 versus the previous day's closing level of 7,624.34.
The benchmark index of the London Stock Exchange is currently trading at 7,619.73, down 0.06 percent on an overnight basis.
In the 100-scrip index, only 39 are trading in the overnight green zone. Kingfisher gained 1.9 percent. Ashtead Group, Hargreaves Lansdown and ABRDN, have all added more than 1.5 percent.
Vodafone Group declined more than 4 percent. Sainsbury (J) and Endeavour Mining, both declined more than 3 percent. WPP and Johnson Matthey, both shed more than 2 percent.
Optimism surrounding the Fed's potential pause in rate hikes dragged the Dollar Index 0.24 percent to 103.85, lifting the GBP/USD pair 0.19 percent to 1.2463.
Rate hike expectations from the Bank of England however reflected in yields on U.K.'s ten-year bonds rising 1.83 percent to 4.3300% from the previous close of 4.252%.
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