GSK down after it raises 1.5 bln from offloading Haleon stake
Landsec down; co posts smaller annual loss as market recovery gathers pace
FTSE 100, FTSE 250 off 0.3

May 17 Reuters London stocks fell on Friday, tracking weakness in global markets after U.S. Federal Reserve officials indicated interest rates may stay high for longer, while GSK slipped after selling is remaining stake in consumer healthcare firm Haleon.

The bluechip FTSE 100 index slid 0.3 and was also set to snap three weeks of gains. The midcap FTSE 250 index was also down 0.3.

The pound traded slightly lower against the dollar at 1.2653.

London market is taking a lot of its lead from global markets. A decent U.S. inflation print, various Fed officials coming out and trying to send a higher for longer message on rates, said Richard Flax, Chief Investment Officer of Moneyfarm.

If you were hoping for signs of resilience in the global economy, the message is a little bit more downbeat on the margin than you might have hoped.

Fed officials39; baseline outlook remained for inflation to fall after the softerthanexpected inflation data, but they didn39;t trust it fully after three months in which inflation data disappointed.

Traders are pricing in about 47 basis points of easing this year from the Fed, with a rate cut in November fully priced in, and a possibility of around 60 bps of cuts by the Bank of England in 2024 with the first in August.

Comments from BoE39;s monetary policy committee member…