U.K. stocks moved lower Thursday, with some losing
ground as they traded without dividend rights, while the pound rose
ahead of a heavy slate of central-bank data that may sway the market’s
outlook on U.K. interest rates.
The FTSE 100 slid 0.3% to 6,729.42, nibbling into Wednesday’s 1% climb that allowed the index to log its first rise in three sessions.
According to FactSet data, shares of oil major BP PLC and mining heavyweight Anglo American PLC were among those suffering, weighed down as they traded ex-dividend. BP shares dipped 3.1%, and Anglo American lost 2.5%.
Also trading without dividend rights were information and analytics company RELX PLC, consumer-goods maker Unilever PLC and Barclays PLC . RELX was off 1.2%, Unilever fell 0.6%, and Barclays gave up 0.4%.
Brewer SABMiller PLC was also trading ex-dividend, but its shares were slightly higher, by 0.1%.
Rio Tinto PLC was higher 0.3%. The iron-ore producer said first-half underlying earnings fell 43% to $2.92 billion, better than the $2.42 billion expected by analysts polled by The Wall Street Journal.
The British currency changed hands at $1.5622 vs $1.5602 late Wednesday.
Investors will await the June reading on U.K. industrial production, which is due at 9:30 a.m. London. However, the most anticipated data will come from the Bank of England.
The regulator will issue its quarterly inflation report, its rate decision for August and the voting records of the rate-setting meeting. According to a new system, the releases will come together, rather than spread out over two weeks, a move intended to lowering the speculation that occurs between each publication. The release is due at 12 p.m. London time, or 7 a.m. Eastern Time.
BOE Governor Mark Carney will hold a press conference after the release, at 12:45 p.m. in London.
The bank’s Monetary Policy Committee is expected to have decided on Wednesday to keep interest rates on hold at a record low of 0.5% and leave its asset-purchase program unchanged at 375 billion pounds ($586 billion).
