UK stocks subdued as focus turns to Fed meeting outcome

  • Reuters
  • Stock Market News
UK stocks subdued as focus turns to Fed meeting outcome
Credit: © Reuters.

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* 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 (JO: AMSJ ) AAL.L , and BHP Group (JO: BHPJ ) 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. 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. ($1 = 0.7187 pounds)

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