On Thursday, stocks in the U.K. experienced a significant decline following the anticipated rate cut by the U.S. Federal Reserve. The Fed signaled two additional rate cuts for 2025, which is fewer than the four that had been projected in September.
Investors are also attentively awaiting the Bank of England's final meeting of the year, scheduled for later in the day. The central bank is broadly expected to keep the interest rate steady at 4.75 percent. This expectation is due to data indicating strong wage growth and inflation levels that surpass the bank's target of 2 percent.
The FTSE 100 index dropped 90 points, or 1.10 percent, reaching 8,109, after having edged slightly higher the previous day.
In corporate developments, Serco Group's shares surged nearly 7 percent. The outsourcing company announced that it anticipates its full-year revenue to reach £4.8 billion, aligning with its earlier projections.
The material has been provided by InstaForex Company - www.instaforex.com
Investors are also attentively awaiting the Bank of England's final meeting of the year, scheduled for later in the day. The central bank is broadly expected to keep the interest rate steady at 4.75 percent. This expectation is due to data indicating strong wage growth and inflation levels that surpass the bank's target of 2 percent.
The FTSE 100 index dropped 90 points, or 1.10 percent, reaching 8,109, after having edged slightly higher the previous day.
In corporate developments, Serco Group's shares surged nearly 7 percent. The outsourcing company announced that it anticipates its full-year revenue to reach £4.8 billion, aligning with its earlier projections.
The material has been provided by InstaForex Company - www.instaforex.com