London stocks muted ahead of key central bank decisions; Kingfisher drops on glum profit forecast

UK stocks were muted at open on Tuesday as investors remain cautious ahead of domestic inflation data and key central bank policy meetings, while shares of Kingfisher dropped after the home improvement retailer cut its annual profit forecast.

Both the FTSE 100 and FTSE 250 indexes were flat in early trade.

Global financial markets keenly await the US Federal Reserve’s and the Bank of England’s (BoE) interest rate decisions this week along with key UK inflation data, as they bet for an end to the rate hiking cycle.

Shares of Kingfisher dipped 4.8% to the bottom of the benchmark index, as the firm downgraded its annual profit forecast by 7%, after lower sales in France and Poland.

Hargreaves Lansdown Plc jumped 4.7% after the investment platform beat its annual profit estimates.

FTSE 100 rises as China data boosts miners

British online supermarket Ocado Retail, a 50/50 joint venture between Ocado Group and Marks & Spencer, maintained its full-year outlook as it reported a step-up in revenue growth in its latest quarter. Shares of Ocado gained 4.5%.