U.K.’s FTSE 100 began modestly lower on Thursday as markets battled for direction after top central bankers signaled more policy tightening. At the same time, Serco Group shares rose after the British outsourcing major upped its annual earnings projection.
By 0711 GMT, the blue-chip FTSE 100 (.FTSE) and locally focused FTSE 250 midcap index (.FTMC) declined 0.1%.
On Wednesday, the world’s top central bankers said they expect more interest rate hikes to lower inflation.
After Citigroup upped their price projections on numerous banks, including HSBC and Barclays (BARC.L), U.K. banks (.FTNMX301010) rose 0.4% early on.
Serco Group (SRP.L) rose 6.2% after raising its full-year profit and sales projection.
Burberry Group (BRBY.L) fell 3.5% ex-dividend. Personal goods fell 2.6%.
Mattel (MAT.O) has urged the U.S. Trademark Office to cancel Burberry’s “BRBY” trademark because it may confuse consumers with Barbie.
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