London shares slip as higher oil prices lift bond yields; BoE in focus
SPY•Data and BoE expectations
- Britain's jobs market stayed weak in the third quarter, while a separate report showed grocery price inflation increased to 2.3% over the four weeks to Sept. 6. Official data on inflation is due on Wednesday.
- Traders see the BoE leaving interest rates unchanged at its monetary policy meeting, but still see rates rising by at least 48 basis points by year-end, LSEG-compiled data showed.
Wickes rises, Trustpilot falls
- Wickes Group WIX.L gained 8.3% after the home improvement retailer reported strong third-quarter trading, driven by mid-single-digit growth in retail like-for-like revenue.
- Online reviews platform Trustpilot's TRST.L shares plummeted 18.6% as its decision to leave its earnings outlook unchanged disappointed investors.
London shares slip as bond yields rise
Sept. 15 (Reuters) - London shares slipped on Tuesday, hovering around two-month lows, as rising oil prices prompted a fresh rise in bond yields, while investors assessed domestic economic data ahead of a Bank of England monetary policy meeting later this week.
The blue-chip FTSE 100 index .FTSE fell 0.4% to 10,658.13 points, while the midcap FTSE 250 .FTMC slipped 0.1% to 23,818.74 points.
Oil, banks and bond yields weigh on the market
- Oil prices LCOc1, CLc1 rose 2% after attacks on Saudi energy infrastructure raised supply concerns, in turn lifting shares of Shell SHEL.L and BP BP.L.
- Major banks .FTNMX301010, investment banks and brokerages .FTNMX302020 were the top fallers with HSBC HSBA.L down 2.2% and Barclays BARC.L 1.7% lower.
