FTSE 100 Slips Into Red On Interest Rate Worries
(RTTNews) - U.K. stocks slipped into the red on Thursday, a day after global central bank chiefs reaffirmed that further interest rate hikes will likely be needed to tame stubbornly high inflation.
In economic releases, central bank data revealed earlier in the day that British lenders approved 50,524 mortgages in May, up from a revised 49,020 in April.
The benchmark FTSE 100 was down 8 points, or 0.1 percent, at 7,492 after closing half a percent higher on Wednesday.
In corporate news, outsourcing firm Serco jumped nearly 12 percent after raising its full-year guidance.
Shares of luxury brand Burberry Group lost about 2 percent on going ex-dividend.
3i Group, a private equity and venture capital firm, rose 1.2 percent after Action, which it invests in, showed sales growth in the year-to-date.
Office-space provider IWG plunged 5 percent after issuing a cautious outlook for the rest of 2023.
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