By Pranav Kashyap and Purvi Agarwal
(Reuters) -UK stocks slipped on Monday, tracking losses in European stocks after French President Emmanuel Macron called a snap parliamentary election, while uncertainty around the timing of interest rate cuts in the United States also weighed.
Britain’s blue-chip FTSE 100 closed down 0.2%, while the mid-cap FTSE 250 fell 0.5% for a second straight session of losses.
Political uncertainty in Europe made UK investors more cautious after Macron’s decision on Sunday to call an election after a bruising loss in a European Parliament ballot.
“The (election) injects a big dose of the uncertainty which markets hate – with the euro dropping sharply in response to the developments,” said Russ Mould, investment director at AJ Bell.
Most UK sectors ended lower, with beverages stocks among the worst hit, declining 2.1%, although energy stocks gained 1.2% as oil prices rose by $1 per barrel. [O/R]
“There’s some…
