Financial stocks drag FTSE 100 lower ahead of this week's economic data
17/11/2025 13:00
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100 slips 0.2%, FTSE 250 drops 0.4% Asking prices for UK homes fall in run up to budget - Rightmove WPP's shares rise after report of potential takeover Nov 17 (Reuters) - London stocks edged lower on Monday, with financial sector weakness pulling the market down at the start of a week filled with crucial economic data releases. The blue-chip FTSE 100 .FTSE slipped 0.2% by 12:30 GMT, heading toward its third consecutive session of losses. The mid-cap index FTSE 250 .FTMC fell 0.4%, poised to mark its fourth straight day of decline. Heavyweight banking sector .FTNMX301010 was down 0.8%, with Barclays BARC.L, HSBC HSBA.L, and Standard Chartered falling between 0.7% and 1%. Advertising group WPP WPP.L rose 5% after the Times reported, citing sources, that the firm has drawn takeover interest from French rival Havas HAVAS.AS and private equity firms Apollo APO.N and KKR KKR.N. Construction & Materials .FTNMX501010 fell 1.2% following a survey by property website Rightmove that showed weakening UK home prices, which dropped 1.8% in the four weeks to November 8 - the largest decline for this time of year since 2012. Additionally, finance minister Rachel Reeves is set to introduce a levy on high-value homes in her annual budget on November 26, according to the Telegraph. The main indexes fell sharply on Friday after reports of Reeves reversing of a planned tax hike drove gilt yields higher. Market attention now shifts to this week's UK inflation report, as the budget announcement approaches and the Bank of England contemplates its interest rate decision ahead of the December 18 monetary policy meeting. Also this week, global investors will focus on U.S. jobs data and quarterly results from AI powerhouse Nvidia. Back in the UK, metal miners .FTNMX551020 dropped 0.9% as copper prices slipped. HICL Infrastructure HICL.L plunged 7.3% after announcing a 3.98 billion pounds ($5.2 billion) merger deal with The Renewables Infrastructure TRIG.L. Water solutions manufacturer Genuit GENG.L slumped 13.2% after forecasting full-year profit below estimates. ($1 = 0.7596 pounds) (Reporting by Utkarsh Tushar Hathi; Editing by Sahal Muhammed) ((utkarshtushar.hathi@thomsonreuters.com))