UK stocks slip as Fed rate cut hopes fade, IAG falls on fine
Strong U.S. jobs data last week put off bets that the U.S. Federal Reserve would give in to calls for aggressive policy easing. That has put the main UK index on course for its third session of losses – its longest losing streak in two months.
British Airways owner International Consolidated Airlines Group <ICAG.L> lost as much as 1.5% after it said the Information Commissioner’s Office (ICO) could impose a penalty of 183.4 million pounds for the theft of customer data from the airline’s website last year.
Imperial Brands <IMB.L> helped contain the losses on the blue-chip index, rising 2% after announcing plans for a 200-million-pound buyback and a revision to its dividend policy.
London’s FTSE 100 inched lower on Monday as markets remained subdued on dampened hopes of a hefty rate cut by the U.S. central bank, while IAG slipped after a British regulator signalled it could fine the airline for a 2018 data theft.
The FTSE 100 index <.FTSE> was 0.1% lower by 0707 GMT, tracking losses in Asian markets. The FTSE 250 midcap index <.FTMC> also fell by the same margin.