LONDON: British stocks closed mixed on Friday as traders digested Thursday’s Bank of England rate decision that reignited inflation worries, while weighing US President Donald Trump’s interim pick for a seat on the Federal Reserve board.
The benchmark FTSE 100 closed 0.06% lower, but registered a weekly gain of 0.3%. The midcap FTSE 250 index rose 0.1% and posted a weekly gain of 1.2%.
Investors this week weighed a slew of strong corporate earnings that helped British equities recover from last Friday’s steepest drop in nearly four months.
However, sentiment remained fragile following the BoE’s split rate decision, where four of nine policymakers voted to hold rates steady amid persistent inflation concerns, signaling that the central bank’s rate-cutting cycle may be nearing its end.
The pound neared two-week highs on Friday, which further pressured export-oriented companies.
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