British equities commenced the week on a muted note, primarily hindered by industrial metal miners weighing down the index. Investors are closely monitoring the Federal Reserve’s upcoming rate decision, slated for later this week.
The FTSE 100 closed flat despite reaching a record high the previous Friday. On the domestically-oriented FTSE 250, technology stocks experienced a decline, with Polar Capital Technology Trust and Allianz’s investment trust dropping 6.8% and 5.2%, respectively.
A global decline in AI-linked stocks, spurred by the cheap Chinese artificial intelligence model’s surge in popularity, gradually tapered, leaving the STOXX 600 neutral and the Nasdaq down by around 3%. Meanwhile, sterling continued its upward trend, adversely affecting export-driven firms. Industrial metal miners fell to a two-week low due to Anglo American’s stock dropping 6.2% amid reports BHP Group won’t renew its bid. On a positive note,…
