RBC downgrades Unite, shares rise
Miners lead sectoral falls, banks rise
FTSE 100 down 0.2, FTSE 250 flat

Aug 7 Reuters The UK39;s exporterheavy FTSE 100 index dipped on Monday, weighed down by heavyweight miners, while shares of Unite Group fell to the bottom of the index after a rating downgrade.

The FTSE 100 index edged 0.2 lower in the first hour of trading, lagging its European counterpart the STOXX 600 index which rose. The FTSE 100 logged a weekly loss on Friday, snapping a threeweek winning streak.

Last week investors assessed a widely expected quarter percentage point rate hike from the Bank of England, data pointing to slowing business activity across Europe and a surprise U.S. credit rating cut.

The industrial metals and mining sector fell 1.0 on the day, tracking a decline in copper prices.

Mortgage lender Halifax said British house prices fell in July for a fourth month and the slide looks set to extend into 2024, but the market showed some signs of resilience despite a rise in borrowing costs.

LSL Property Services tumbled 13.5 after an annual profit warning due to subdued activity in the British mortgage market.

We39;re still very much in this period where markets have convinced themselves that there will be no landing, said Russ Mould, investment director at AJ Bell.

They39;ve also convinced themselves that inflation is going to ease and continue to ease, and there is evidence to the contrary out there on both counts.

Shares of students…