FTSE 100 Declines As US Rate Cut Hopes Fade
(RTTNews) - U.K. stocks traded lower on Monday as U.S. rate cut hopes faded and far-right parties rattled the traditional powers in the European Union and made major gains in parliamentary elections Sunday.
Meanwhile, U.K. permanent staff appointments fell for the twentieth consecutive month in May, but the pace of decrease was the softest since March 2023, a report compiled by S&P Global showed.
Recruitment consultants cited delayed decision making and a lack of demand amongst companies as reasons for the fall in recruitment activity, the KPMG/REC Report on Jobs revealed.
Temp billings also decreased in May, with the decline the weakest since January. The benchmark FTSE 100 dropped 33 points, or 0.4 percent, to 8,212 after ending half a percent lower on Friday.
In corporate news, Pennon dropped 1 percent as the water company appointed David Sproul as chair designate, replacing Gill Rider after the annual general meeting on July 24.
Tristel added 1.4 percent. The maker of infection prevention products said that it has appointed Matthew Sassone as Chief Executive Officer with effect from September 2.
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