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UK stocks subdued as focus turns to Fed meeting outcome

Published 17/03/2021, 09:16
© Reuters.
UK100
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BP
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HRGV
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RDSa
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RIO
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AAL
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CPI
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BHPB
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FTMC
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 down 0.1%, FTSE 250 off 0.3%

March 17 (Reuters) - British shares slipped on Wednesday,
dragged by miners and energy stocks, as investors awaited the
outcome of the U.S. Federal Reserve's policy meeting for clues
about interest rates.
The blue-chip FTSE 100 index .FTSE was down 0.1%, with
mining stocks, including Rio Tinto RIO.L , Anglo American
AAL.L , and BHP Group BHPB.L , falling between 0.5% and 1%.
Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L
were also among the laggards.
A spate of volatility in money markets has stoked
speculation the Fed may be forced into a technical adjustment to
the levers controlling its benchmark interest rate to ensure
that it does not fall too low, but few expect the central bank
to act on the matter at this week's meeting. MKTS/GLOB
The domestically focused mid-cap FTSE 250 index .FTMC fell
0.3%, dragged by consumer discretionary and financials stocks.
Retail investment platform Hargreaves Lansdown HRGV.L rose
3.2%, as it expects its profit for the year ending June 30 to be
"modestly" above analyst estimates. Outsourcer Capita CPI.L rose 6.3% after its plan to merge
multiple businesses into two core operating divisions and to
raise 700 million pounds ($973.98 million) from sales of other
assets. = 0.7187 pounds)

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