Interest rate sensitive stocks push FTSE lower

clock

Interest rate sensitive stocks were behind a fall in the FTSE this morning as minutes of the latest MPC meeting revealed policy makers voted five to four to keep rates unchanged.

Persimmon and British Land were among the fallers while Tesco led retailers lower. London Stock Exchange Plc also dropped after confirming it is in takeover talks with Borsa Italiana SpA. The FTSE 100 Index fell 36.7, or 0.6%, to 6612.6 while the FTSE All-Share was down 0.6%. Meanwhile, Asian stocks rose for a sixth day in the longest upward run in almost eight months. The rise was driven by a jump in computer-memory chip prices and the news Japan's export growth almost doubled in May. The Nikkei 225 added 0.2pc to 18,240.30, its highest level since May 2000. Benchmarks in Australia...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read