The FTSE100 index was trading down 0.63% as of 14:54 GMT, dragged lower by most losing stocks led by the top 10 biggest lowers.
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Endeavour Mining PLC (LON: EDV) was the day’s biggest loser, down 8.74%.
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Ocado Group PLC (LON: OCDO) was the second biggest loser, down 4.55%.
RS Group PLC (LON: RS1) was the third-highest loser, down 4.15%.
IMI plc (LON: IMI) was the fourth-largest loser, down 3.60%
Mondi Plc (LON: MNDI) was the fifth-highest lower, down 2.80%.
On the list of top gainers was:
WPP PLC (LON: WPP) was the day’s biggest gainer, up 3.83%.
Centrica PLC (LON: CNA) was the day’s second-biggest gainer, up 2.04%.
Glencore PLC (LON: GLEN) was the third-largest gainer of the day, up 1.03%.
ConvaTec Group PLC (LON: CTEC) was the day’s fourth-largest gainer, up 0.99%.
Entain PLC (LON: ENT) was the day’s fifth-highest gainer, up 0.95%.
The above stocks were the day’s biggest gainers and losers, putting the FTSE100 index on track to close out the week on a negative tone.
The pullback witnessed in the FTSE100 this week was expected, given last year’s rally higher in global indices including the FTSE100.
Investor expectations of interest rate cuts from leading central banks, which were driving stocks higher, have taken a back seat. Many now expect central banks to hold rates at their current highs for much longer than was initially anticipated.
Investors will look forward to next week with bated breath, hoping that the FTSE100 and other leading stock indices will reverse their losing streaks and head higher. However, only time will tell whether we shall have a positive week.
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