Oct 25 (Reuters) – London’s blue-chip stock index slipped on Friday as investors assessed a mixed bag of corporate earnings ahead of a highly awaited first budget from the country’s new government next week.
The FTSE 100 (.FTSE),was down 0.3%, while the domestically focused mid-cap FTSE 250 (.FTMC),edged up 0.1%. Both the indexes recorded weekly declines.
The FTSE 350 medical equipment & services index (.FTNMX201020),was the worst-hit sector on the day, down 2.5%, weighed down by Smith & Nephew (SN.L).
Shares in Close Brothers Group (CBRO.L),slumped 25% and Lloyds (LLOY.L),dropped 7.3% after a London court ruled that motor finance brokers must fully inform customers about commissions when taking out car loans.
On the flip side, British bank NatWest (NWG.L),climbed 0.6% after it raised its income forecast for 2024.
With the budget scheduled for Oct. 30, UK’s finance minister Rachel Reeves faces a tough task of raising the tax revenues…
