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FTSE 100 down 0.1, FTSE 250 adds 0.2
Nov 27 Reuters UK39;s FTSE 100 slipped on Monday, as losses in heavyweight energy and mining stocks chipped away on the commoditiesheavy index, while cautious investors braced for a barrage of economic data throughout this week.
The bluechip FTSE 100 fell 0.1, but the more domesticallyfocussed FTSE 250 midcap index added 0.2.
Heavyweight energy stocks eased 1.0, tracking a fall in crude oil prices and industrial metal miners lost 0.4.
What we39;ve seen before the Thanksgiving weekend is a market which is now pricing in this narrative that we won39;t see any more rate hikes and instead we39;ll start to see rate cuts as soon as May of next year, and that led to a lot of risk on sentiment, said Axel Rudolph, senior market analyst at IG Group.
Usually after Thanksgiving, you tend to get some profit taking because the volumes were low, etc.
The exporterheavy FTSE 100 is on track for monthly gains as sentiment got a lift by hopes of a softer monetary policy globally heading into the next year, with expectations growing that perhaps interest rates have reached a peak.
Investors are now awaiting the UK mortgage data and the inflation prints across the eurozone and in the United States due later in the week.
Bucking the trend, precious metal miners added 1.6 as prices of most precious metals advanced, with gold prices touching a…