By Sanchayaita Roy
(Reuters) -London’s FTSE 100 index fell on Tuesday, as investors weighed mixed corporate updates and stayed cautious ahead of central bank meetings, though gains in metal miners helped stem losses.
The benchmark FTSE 100 was down 0.3% by 0949 GMT, while the domestically focused FTSE 250 was flat.
Data showed on Tuesday that Britain’s jobs market has lost a little more steam, potentially easing worries at the Bank of England about persistent inflation pressures.
The BoE is expected to keep interest rates on hold this week, having cut them in August.
“There is almost no chance of any change in rates from the BoE on Thursday, nor do we believe that the MPC will cut again before year-end. Macroeconomic data has evolved largely in line with the bank’s view since the last meeting,” said Matthew Ryan, head of market strategy at global financial services firm Ebury.
Meanwhile, the U.S. Federal Reserve will kick off its two-day policy meeting later in the day, with markets pricing in a 25-basis-point interest rate cut announcement on Wednesday.
Among individual stocks, Haleon fell the most in the FTSE 100, dropping 3.3% after Barclays downgraded the consumer healthcare group’s rating to “equal weight” from “overweight.”
Budget airline EasyJet fell 2% after JPMorgan downgraded the stock to “neutral” from “overweight” and placed it on negative catalyst watch.
Precious metal miners rose 4%, the most among sectors, as gold prices hit a record-high. [GOL/]
Gold miner Fresnillo was the top gainer in the FTSE 100 with a 4.1% rise.
Trustpilot Group jumped 8.5% after the global review platform reported half-year results.
Additionally, U.S. President Donald Trump is due in Britain late on Tuesday for a second state visit at which the two nations will seal deals worth more than $10 billion.
(Reporting by Sanchayaita Roy in Bengaluru, additional reporting by Akriti Shah; Editing by Sahal Muhammed)
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