London stocks dip in anticipation of economic data

London stocks experienced a dip on Monday, with the FTSE 100 down 0.6 per cent and the FTSE 250 falling 0.4 per cent to 20,467.8 points by 7:07 GMT, according to Reuters.

This marks a near-two-week low for the FTSE 100 and a potential second consecutive session of losses for both indexes. Investors are awaiting a series of key domestic economic data this week, including wages and GDP figures.

Analysts predict that the Bank of England will independently cut rates from the Federal Reserve while closely monitoring data.

The central bank is set to meet in less than two weeks to decide on borrowing costs.

In broader markets, a snap legislative election called by French President Emmanuel Macron has impacted sentiment across Europe. Back in Britain, all FTSE 350 sectors were in the red.

Among individual stocks, Aviva Plc saw a 2.1 per cent loss after JP Morgan downgraded its rating to “neutral” and removed it from its analyst focus list. Pennon also experienced a 1.3 per cent loss after naming David Sproul as its chair designate.