London stocks slip amid sluggish drop in services inflation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 19 2024
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Source: reuters
- London Stock Market: London stocks slightly decreased as investors reacted to Britain's inflation hitting the Bank of England's target and a slower decline in services price inflation.
- FTSE 100 and FTSE 250: The blue-chip FTSE 100 was down 0.1%, while the mid-cap FTSE 250 remained flat.
- Inflation Data: Services price inflation in May was at 5.7%, higher than expected, impacting expectations of a rate cut.
- Rate Cut Expectations: Investors are now pricing in a 30% chance of an August rate cut, down from nearly 50% before the latest data.
- Individual Stocks: Companies like Segro and Spectris experienced stock declines, while Anglo American saw gains after announcing expectations for its Chile copper mine.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
