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FTSE 100 Drifts Lower Ahead Of Central Bank Meetings


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(RTTNews.com) - U.K. stocks opened lower on Monday as weak metal prices on concerns over slowing growth in China pulled down miners and investors adopted a cautious stance ahead of key central bank meetings in the U.S., Japan and the U.K. this week.

The Bank of Japan began its two-day policy meeting today, with analysts expecting the central bank to discuss reducing investments in ETFs tracking the Nikkei 225 index.

The Federal Open Market Committee is widely expected to leave interest rates unchanged when it meets on Tuesday and Wednesday.

The Bank of England is set to increase U.K. interest rates by 25 basis points Thursday but cautious comments from Governor Mark Carney may hurt the pound.

The benchmark FTSE 100 was down 21 points or 0.27 percent at 7,680 in late opening deals after adding half a percent on Friday.

Anglo American, Antofagasta and Glencore fell between 0.8 percent and 1.4 percent.

Indivior rose 1.5 percent after a U.S. Court expedited a generic rival's appeal against a preliminary injunction blocking the sale of a copycat version of the drugmaker's blockbuster opioid addiction treatment.

Defense and engineering company Babcock International slid half a percent after backing its full-year guidance.

Betting group GVC Holdings jumped almost 5 percent after it entered into a joint venture with U.S. hotel and casino operator MGM Resorts to set up a sports and online gaming platform in the U.S.


Read the original article on RTTNews (http://www.rttnews.com/2919722/ftse-100-drifts-lower-ahead-of-central-bank-meetings.aspx)


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This article appears in: Stocks , World Markets , Politics



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