London midday: FTSE stays down as BoE hikes by 25 basis points By Sharecast

British Airways, BBC and Boots hit by latest Russian cyber hack

London midday: FTSE stays down as BoE hikes by 25 basis points

Published Mar 23, 2023 12:11 Updated Mar 23, 2023 12:42

Saved. See Saved Items.

This article has already been saved in your Saved Items

London midday: FTSE stays down as BoE hikes by 25 basis points

UK100

-0.10%

Add to/Remove from a Portfolio

FTSE

-0.10%

Add to/Remove from a Portfolio

Sharecast - The FTSE 100 was down 0.8% at 7,504.36, while sterling was 0.3% firmer against the dollar at 1.2310.

The Monetary Policy Committee voted 7-2 for the rate increase, which was the 11th in a row by the Bank.

Data released on Wednesday by the Office for National Statistics showed that consumer price inflation rose to 10.4% in the year to February from 10.1% in January. Analysts had been expecting a decline to 9.9%.

John Leiper, chief investment officer at Titan Asset Management, said: "No surprise today from the Bank of England with a 25bps rate hike, already priced-in, following the bumper inflation data yesterday. We think there is more to come to combat inflation, even as the bank grapples with financial stability concerns and rising recessionary headwinds that could tip the economy into contractionary territory later this year."

Earlier, the Swiss National Bank hiked its key policy rate for the fourth meeting in a row, by 50 basis points to 1.50%, in line with consensus expectations. The Bank said it was looking to tackle "the renewed increase in inflationary pressure" and that further rate hikes could not be ruled out to ensure price stability in the medium term.

On Wednesday, meanwhile, the Fed increased rates by 25 basis points despite recent turmoil in the banking sector.

In equity markets, Schroders (LON:SDR), Prudential (LON:PRU), Pearson (LON:PSON) and Close Brothers all lost ground as they traded without entitlement to the dividend.

Inchcape slumped even as the automotive distributor reported a rise in annual earnings driven by growth in new and used vehicle sales and higher prices.

Informa was knocked lower by a downgrade to ‘equalweight’ at Morgan Stanley (NYSE:MS).

On the upside, Puretech Health surged after US-listed Royalty Pharma bought an interest in the company’ royalty in Karuna Therapeutics' KarXT drug for up to $500m.

Gas producer Energean rallied after saying it almost doubled annual 2022 profits and that it expects output this year to reach 131,000-158,000 barrels of oil equivalent (boed) per day after the launch of its main Karish field off Israel.

Bulmers and Magners owner C&C Group fizzed higher after saying it expects to report a jump in full-year revenues and operating profit despite a challenging backdrop, and to resume dividend payments later in the year.

Darktrace (LON:DARK) was boosted by an initiation at ‘buy’ at HSBC.

Market Movers

FTSE 100 (UKX) 7,504.36 -0.83%

FTSE 250 (MCX) 18,684.40 -0.39%

techMARK (TASX) 4,537.19 0.04%

FTSE 100 - Risers

Endeavour Mining (EDV (LON:EDV)) 1,841.00p 2.79%

Melrose Industries (LON:MRON) (MRO) 158.25p 2.66%

NATWEST GROUP (NWG) 273.00p 1.41%

3i Group (LON:III) 1,590.00p 1.34%

Fresnillo (LON:FRES) 735.40p 1.16%

Severn Trent (LON:SVT) 2,828.00p 1.14%

Centrica (LON:CNA) 104.30p 1.07%

BAE Systems (LON:BAES) (BA.) 968.20p 1.06%

Beazley (BEZ) 555.00p 1.00%

United Utilities Group (UU.) 1,050.00p 0.86%

FTSE 100 - Fallers

Schroders (SDR) 442.90p -4.42%

Ocado Group (LON:OCDO) 418.20p -3.88%

British American Tobacco (LON:BATS) 2,890.50p -3.30%

HSBC Holdings (LON:HSBA) 549.10p -2.75%

Convatec Group (CTEC (LON:CTEC)) 218.00p -2.50%

Kingfisher (LON:KGF) 264.60p -2.43%

Tesco (LON:TSCO) 252.90p -2.36%

Informa (INF) 676.60p -2.34%

Standard Chartered (LON:STAN) 637.00p -2.30%

Legal & General Group (LGEN) 230.20p -2.25%

FTSE 250 - Risers

PureTech Health (PRTC) 224.50p 10.59%

Energean (ENOG) 1,214.00p 8.68%

Darktrace (DARK) 280.00p 3.51%

C&C Group (CDI) (CCR) 153.70p 2.60%

Vistry Group (LON:VTYV) (VTY) 751.00p 2.46%

Centamin (DI) (LON:CEY) 102.35p 2.45%

Ithaca Energy (ITH) 153.80p 2.26%

4Imprint Group (FOUR) 5,040.00p 2.23%

Premier Foods (PFD) 123.40p 1.98%

JTC (JTC) 688.00p 1.93%

FTSE 250 - Fallers

Inchcape (INCH) 735.00p -15.22%

OSB Group (OSB) 468.00p -6.59%

Wizz Air Holdings (LON:WIZZ) 2,675.00p -3.98%

Ibstock (IBST) 168.60p -2.77%

Derwent London (DLN) 2,242.00p -2.69%

Wood Group (John) (WG.) 199.00p -2.69%

Chemring Group (CHG (LON:CHG)) 275.50p -2.48%

Wetherspoon (J.D.) (JDW) 577.50p -2.45%

Hammerson (HMSO) 22.49p -2.39%

Close Brothers Group (CBG) 901.00p -2.38%

Read more on Sharecast.com

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read and understood Investing.com UK's comment guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d51-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d51-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d51-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

FTSE 100	7,599.99	-7.29	-0.10%
DAX	15,963.89	-87.34	-0.54%
Euro Stoxx 50	4,293.24	-30.28	-0.70%
S&P 500	4,273.75	-8.62	-0.20%
Nikkei 225	32,217.43	+693.21	+2.20%
Dow Jones	33,562.86	-199.90	-0.59%
FTSE 100 Futures	7,593.2	-33.3	-0.44%

Brent Oil	76.37	+0.24	+0.32%
Crude Oil WTI	71.79	+0.05	+0.07%
Gold	1,977.75	+8.15	+0.41%
Silver	23.663	-0.084	-0.35%
Copper	3.7610	+0.0335	+0.90%
London Cocoa	2,365.00	+24.00	+1.03%
London Wheat	171.10	+2.25	+1.33%

U.K. 10Y	4.2595	+0.0525	+1.25%
U.K. 5Y	4.2150	+0.0470	+1.13%
U.K. 2Y	4.4915	+0.0525	+1.18%
Germany 10Y	2.3815	+0.0075	+0.32%
U.S. 10Y	3.690	-0.005	-0.14%
U.S. 5Y	3.826	-0.016	-0.41%
U.S. 2Y	4.465	-0.035	-0.78%

Lloyds Banking	44.73	-0.71	-1.57%
Vodafone Group PLC	77.92	+2.29	+3.03%
Barclays	155.78	-0.98	-0.62%
BT Group	145.15	+1.50	+1.04%
HSBC	606.10	+3.40	+0.56%
BHP Group Ltd	2,338.00	-8.00	-0.34%
Exxon Mobil	105.25	-0.51	-0.48%

London midday: FTSE stays down as BoE hikes by 25 basis points

Related Articles