Investors are also concerned about the Fed’s monetary policy, as we get closer to the central bank’s December 13-14 meeting. Oil prices fell further, leading energy stocks to come down. The  FTSE 100 was down 0.2% this morning.

Consumer spending in the U.K. is sluggish due to high inflation, with the BRC posting an annual increase of 4.1 percent. Another survey from the Royal Institution of Chartered Surveyors (RICS) showed house prices fell to their lower level since May 2020. Meanwhile, rents are on course to keep rising, RICS told Reuters.

Among stocks, British American Tobacco declined  1.9% after it warned of rising costs.

DS Smith gained 2.1% after the cardboard maker said its yearly results should exceed its guidance , partly due to higher box prices.

 

Things to read today:

Bond market points to Fed standing firm in battle against inflation (Financial Times)

BlackRock CEO faces call to step down amid claims of hypocrisy (The Guardian)