London stocks slip as defence stocks weigh
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
FTSE 100 down 0.2%, FTSE 250 off 0.4%
BAE Systems drops from record high after BofA downgrade
Pheonix Group's CFO to step down; shares fall
Diploma hits record high after raising FY forecast
Updated at 1550 GMT
By Pranav Kashyap and Purvi Agarwal
May 13 (Reuters) -Britain's FTSE 100 snapped its six-session winning streak on Monday, hurt by losses in aerospace and defence stocks, while investors awaited more data and comments from Bank of England (BoE) officials on the state of the economy.
The blue-chip FTSE 100 .FTSE fell 0.2% after hitting record highs in 11 out of last 13 sessions as the BoE took a dovish stance. The mid-cap FTSE 250 followed suit, sliding 0.4% while the pound GBP=D3 was stronger against the dollar at $1.2557.
"The FTSE 100 has taken a bit of a breather from its record rally opening flat and losing some ground as the session has progressed," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
"It's maybe some profit-taking by some investors who've benefited from these this recent winning streak of the FTSE 100."
Aerospace and defence stocks .FTNMX502010 slipped 1.8%, logging their worst day in more than two weeks, and leading declines on the index. The sector was pulled down by BAE Systems BAES.L with a 3.2% decline after BofA Global Research's downgraded the stock to "neutral" from "buy".
Investors' focus will shift to labour market data due on Tuesday and comments later in the week from BoE's chief economist Huw Pill and external member of the monetary policy panel Megan Greene for clues on the timing of the policy easing.
U.S. inflation data, due on Wednesday, will also be on the radar for more pointers to the Federal Reserve's interest-rate path.
In corporate news, BHP Group BHP.AX said on Monday that Anglo American AAL.L had rejected a revised buyout offer valuing the company at 34 billion pounds ($42.67 billion), sending its shares down 3.2%.
Phoenix Group PHNX.L fell 2.3% after the insurer announced its chief financial officer Rakesh Thakrar would step down from the role.
Diploma Plc DPLM.L was the top gainer on the FTSE 100, rising 4% to hit a record high after the technical products and services provider gave an upbeat forecast.
Reporting by Pranav Kashyap and Purvi Agarwal in Bengaluru; Editing by Mrigank Dhaniwala, Eileen Soreng and Alex Richardson
For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L * For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/ * For company prices, click on - * Company directory: UKEQ By sector: FTAX * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
