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Dec 15 (Reuters) – Britain’s export-driven FTSE 100 fell on Thursday, dragged down by banks and energy companies, while traders avoided bets on riskier assets ahead of the Bank of England’s monetary policy decision.
The blue-chip FTSE 100 (.FTSE) was down 0.5%, while the FTSE 250 (.FTMC) was down 0.7% by 0812 GMT.
The BoE is expected to announce a rate hike of 50 basis points at 1200 GMT.
Energy stocks (.FTNMX601010) fell 0.5% as the US Federal Reserve said it would continue to raise interest rates, while disappointing Chinese factory data piled on demand concerns.
Banks ( .FTNMX301010 ) fell 1.1%, dragged down by a 1.5% drop in HSBC ( HSBA.L ), as few Hong Kong-based investors sought support for a resolution at the lender’s 2023 annual meeting, restoring the bank’s pre-emptive status. Pandemic Dividends and Spin Off Assets.
In bright spots on Swiss media reports of cigarette manufacturing plant closures in Switzerland next year, British American Tobacco rose 0.6%.
Reporting by Johan M Cherian in Bengaluru; Editing by Savio D’Souza
Our Standards: The Thomson Reuters Trust Principles.
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