For the third consecutive session on Wednesday, British stocks were poised to fall as a result of a strengthening pound impacting the export-heavy index. Market participants also exhibited caution ahead of the Bank of England’s upcoming rate decision.

The FTSE 100 saw a minor dip to 8,565.73 by 10:05 GMT. In contrast, the domestically focussed mid-cap FTSE 250 decreased by 0.3%. The surge of the pound by 0.3% added pressure, nearing a one-month high and influencing the FTSE 100 index negatively.

Gains in the healthcare sector, driven by a notable 5.5% surge in GSK shares following strong quarterly results, acted as buffers against wider market losses. In a similar vein, precious metal miners were the day’s top gainers, riding a 2.5% rise alongside gold prices hitting a new high. Meanwhile, Ferrexpo continued to face pressure, falling 8.6% due to legal challenges, whereas Grainger saw a 3.8% improvement, buoyed by rental income growth.

(With inputs from agencies.)



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