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UK stocks slip as Fed rate cut hopes fade, IAG falls on fine

Published 08/07/2019, 08:26
Updated 08/07/2019, 08:30
© Reuters. UK stocks slip as Fed rate cut hopes fade, IAG falls on fine
UK100
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IMB
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FTMC
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ICAG
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100, FTSE 250 down 0.1%
* Banks, IAG among biggest drags
* Imperial Brands up on dividend plans, share buyback

July 8 (Reuters) - London's FTSE 100 inched lower on Monday
as markets remained subdued on dampened hopes of a hefty rate
cut by the U.S. central bank, while IAG slipped after a British
regulator signalled it could fine the airline for a 2018 data
theft.
The FTSE 100 index .FTSE was 0.1% lower by 0707 GMT,
tracking losses in Asian markets. The FTSE 250 midcap index
.FTMC also fell by the same margin.
Strong U.S. jobs data last week put off bets that the U.S.
Federal Reserve would give in to calls for aggressive policy
easing. That has put the main UK index on course for its third
session of losses - its longest losing streak in two months.
British Airways owner International Consolidated Airlines
Group ICAG.L lost as much as 1.5% after it said the
Information Commissioner's Office (ICO) could impose a penalty
of 183.4 million pounds ($229.5 million) for the theft of
customer data from the airline's website last year. Imperial Brands IMB.L helped contain the losses on the
blue-chip index, rising 2% after announcing plans for a
200-million-pound buyback and a revision to its dividend policy.
= 0.7990 pounds)

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