British stocks fell at the open on Thursday, as minutes from the U.S. Federal Reserve’s last meeting rekindled concerns of tighter monetary policy, while shares of Currys slipped after the retailer reported a fall in profit.
By 0705 GMT, the blue-chip FTSE 100 fell 0.8%, while the domestically-focussed FTSE 250 midcap index lost 0.6%.
Currys slipped 8.3% after the electricals retailer reported a 38% slump in full year profit.
UK shares fall as fears over global demand, China weakness sap mood
Adding to the selling pressure, minutes from the U.S. Federal Reserve’s June meeting showed “almost all” officials agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether further rate hikes would be needed.
China-exposed bank HSBC and insurer Prudential lost 1.1% and 1.4%, respectively, on elevated Sino-U.S. tensions.
Industrial metal miners fell 1.3% as prices of most base metals came under pressure.
United Utilities climbed 2.4% after Morgan Stanley raised the water utility firm’s rating to “overweight” from “equal-weight.”
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