The FTSE 100 suffered its longest losing streak since February as hopes fade over early interest rate cuts.
It fell 0.3 per cent, or 21.64 points, to 8317.59 – a fourth consecutive day of losses and sank into the red for a second week in a row, not long after it passed 8400 for the first time. The FTSE 250 rose 0.7 per cent, or 139.63 points, to 20,770.93.6.
Inflation figures on Wednesday disappointed the City. While the sharp fall to 2.3 per cent was welcomed by politicians as a sign that inflation had returned to normal, it was higher than forecasts of 2.1 per cent and dented the prospect of early interest rate cuts.
Russ Mould, investment director at AJ Bell, said: ‘The sooner interest rates are cut, the better.
‘Not only should that make consumers feel a bit more…
