July 18, 2024

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FTSE 100 Modestly Lower As Reform UK Overtakes Conservatives In Opinion Poll

1 min read

U.K. stocks were slightly lower on Friday after Nigel Farage’s Reform UK has surpassed Prime Minister Rishi Sunak’s Conservatives in a YouGov poll.

The poll for the Times newspaper puts Reform UK at 19 percent, up from 17 percent previously, and the Conservative Party unchanged at 18 percent in voting intention.

Meanwhile, Britons’ short-term inflation expectations softened in May, the quarterly Inflation Attitudes Survey conducted by Ipsos on behalf of the Bank of England showed.

The one-year ahead inflation expectations fell to 2.6 percent from 2.8 percent in February. Respondents assessed the current inflation at 5.5 percent compared to 6.1 percent in the previous survey period.

In five years’ time, inflation is seen at 3.1 percent, unchanged from the prior survey period.

The benchmark FTSE 100 was down 0.1 percent at 8,152 after declining 0.6 percent the previous day.

In corporate news, Crest Nicholson shares jumped 8.4 percent. The embattled housebuilder has rebuffed a second all-share takeover approach from its larger rival Bellway.

Tesco rallied 2.3 percent after reporting a “robust” surge in grocery purchases by U.K. shoppers in the most recent quarter.

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2024-06-14 05:26:46

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