FTSE 100 down 0.4, FTSE 250 off 0.1
Beverage stocks lead broader declines
Standard Chartered announces largest share buyback, shares rise
BP gains after Q2 profit beat, dividend raise

July 30 Reuters London stocks moved lower on Tuesday as investors assessed a mixed bag of corporate earnings and exercised caution around interest rate decisions in the U.S. and UK.

The bluechip FTSE 100 index was down 0.4, after hitting its highest level since early June on Monday. The midcap FTSE 250 index was off 0.1 by 0710 GMT.

The beverages sector was the worst hit, down 6.8 to its lowest since November 2020. Diageo fell 8.1 to the bottom of the FTSE 100 after the spirits maker reported a steeper than expected 4.8 decline in annual organic operating profit.

Energy shares climbed 0.6, buoyed by a 1.9 gain in top player BP, which reported a secondquarter profit above expectations, raised dividend and extended its share repurchase programme.

Precious metal miners inched 0.9 higher as heavyweight Fresnillo gained 2.3 after its halfyear results.

Investors exercised caution ahead of interest rate decisions in the U.S. and the UK, due later in the week.

The Federal Reserve is expected to keep rates unchanged, while bets of a cut from the Bank of England stand at just over 58, despite data showing sticky services inflation. 0BOEWATCH

Also on the radar this week are a crucial jobs report in the U.S. and quarterly earnings from Big Tech names like Microsoft, which is set to report…