By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Most U.K. stocks were mired in the red
on Thursday, ahead of the latest rate decision from the Bank of
England.
The FTSE 100 index dropped 0.4% to 6,514.72, partly erasing a
1.3% gain from Wednesday.
Shares of AstraZenaca PLC posted one of the biggest losses, down
1.7%, after the drug maker reported a sharp decline in
third-quarter profit.
RSA Insurance Group PLC lost 2.3% after the company posted a
decline in net written premiums.
Miners were also falling as iron-ore prices sank to a near 5 1/2
year low. Shares of Rio Tinto PLC (RIO) dropped 0.9%, Anglo
American PLC fell 1.1% and Antofagasta PLC lost 0.6%.
Corporates aside, the main event in London on Thursday was the
rate announcement from the Bank of England due at noon London time,
or 7 a.m. Eastern. Economists widely expect the bank to keep
interest rates at a record low of 0.5% and make no changes to its
375 billion pound ($599 billion) asset-purchase program.
At 12:45 p.m. London time, the European Central Bank's rate
decision is due, where no change is also the consensus. Read: ECB
discord could 'neuter' Draghi's power
In U.K. data news, the Office for National Statistics said
production rose 1.5% in September, year-over-year, a tad lower than
consensus forecasts, according to FactSet.
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opportunities in Europe
Will you be in London on Dec. 3? Then you're invited to our
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Our panel will be led by MarketWatch Columnist Matthew Lynn, a
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joined by Mark Hulbert, MarketWatch columnist and editor of the
Hulbert Financial Digest. This event is free, but RSVPs are
required. It will be held Wednesday evening, Dec. 3, in London. For
more information or to RSVP, send an email to
marketwatchevent@wsj.com
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