The UK’s benchmark index FTSE 100 was flat on Friday as gains in the personal goods sector were offset by losses in travel shares, while investors awaited comments from Bank of England’s monetary policy panel member Catherine Mann later in the day.
By 0714 GMT, the blue-chip FTSE 100 index inched 0.1% lower but was set for a fourth weekly gain.
The midcap FTSE 250 index was down 0.1%.
The pound was little changed against the dollar at $1.2665. Personal goods shares led the gains among sectors, led by 2.7% jump in shares of Watches of Switzerland.
Investors will closely monitor comments from BoE’s monetary policy committee member Catherine Mann on how soon the UK central bank can start easing borrowing costs.
Money markets have priced in a possibility of around 60 basis points (bps) of interest rate cuts in 2024 by the BoE, with the first cut expected in August.
FTSE 100 extends record hitting streak as UK exits recession
GSK slid 0.6% after the drugmaker raised 1.25 billion pounds ($1.52 billion) from selling its entire remaining stake in consumer healthcare firm Haleon, whose shares fell 0.8%.
Auto Trader Group slipped 3.7% to the bottom of FTSE 100 after Morgan Stanley cut rating and target price on the stock.
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