Nov 29 (Reuters) – UK’s FTSE edged lower on Friday amid low trading volumes, as losses in defence shares outweighed strength in miners, with the benchmark stock index on track for strong gains in a month marked by U.S. elections and geopolitical tensions.
The FTSE 100 (.FTSE), edged 0.1% lower at 1045 GMT, while the domestically focused mid-cap FTSE 250 (.FTMC), was up 0.1%. Trading volumes are expected to be low, with the U.S. equity market open for half a day following Thursday’s Thanksgiving holiday.
Both the indexes were set for their biggest monthly gain since July, with automobiles (.FTNMX401010), and personal goods (.FTNMX402040), emerging as the top sectoral performers in November.
This month, global financial markets were rattled by fears of trade tariffs proposed by U.S. President-elect Donald Trump and heightened geopolitical tensions that drove investors to safe-haven assets.
Meanwhile, the Bank of England warned that higher…
