Posted By Reuters
Posted on January 10, 2025
(Reuters) – British equities slipped on Friday, with financial sectors such as insurance and lenders leading losses ahead of the U.S. jobs data, due later in the day, which could offer clues on the Federal Reserve’s interest rate trajectory for the year.
The blue-chip FTSE 100 slipped 0.2% as of 1029 GMT but was set for its third straight weekly advance. The more economically-sensitive midcaps dipped 0.5%, hovering near its lowest level in over eight months.
Insurers dropped 2%, with those having a large exposure to the Los Angeles wildfires such Beazley and Hiscox leading losses. Banks lost 0.9%.
Oil and gas was a bright spot, adding 1.2% as crude prices ticked higher. [O/R]
Investors were mainly focused on the U.S. nonfarm payrolls report, which is expected to show job growth likely slowed to a still-healthy clip in December while the unemployment rate held steady at 4.2%, reinforcing…
