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London stocks end event-packed week lower amid fiscal worries
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London stocks end event-packed week lower amid fiscal worries
Sep 21, 2025 2:54 AM

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FTSE 100 down 0.12%, FTSE 250 down 0.63%

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Most major brokerages see no more BoE cuts this year

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IG Group ( IGGRF ) buys Australian crypto exchange, shares drop

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Spire Healthcare jump, company mulls sale

(Updates after markets close)

Sept 19 (Reuters) - London stocks ended an eventful week

lower on Friday after a report showed Britain's borrowing had

exceeded official forecasts, dampening consumer sentiment amid

fiscal uncertainty.

The blue-chip FTSE 100 closed down 0.12%,

registering a marginal weekly decline on looming worries around

inflation. The mid-cap FTSE 250 fell 0.63% and also

recorded a weekly loss.

Britain's borrowing has shot past the official forecasts

that underpin the government's tax and spending plans,

compounding the already big challenge facing finance minister

Rachel Reeves in her November budget.

A survey showed on Friday that Britons turned more downbeat

this month, with the looming prospect of tax hikes threatening

to further dent consumer confidence.

Sterling fell and was the worst performer among G10

currencies, mirroring investors' concerns that Reeves may not be

able to keep her budget under control.

UK retail sales for August showed a modest improvement, but

broader economic concerns kept traders cautious.

The Bank of England's widely expected pause on Thursday

followed a quarter-point cut in August, as it navigates sticky

inflation, an uncertain growth and jobs outlook.

Major brokerages including Goldman Sachs, Citigroup and

JPMorgan expect no more interest rate cuts by the BoE this year

after the British central bank kept its key rate on hold.

Earlier this week, central banks in the U.S., Canada and

Norway cut interest rates, boosting hopes of more easing to

come. The Fed's 25 basis-point rate cut lifted riskier assets in

the previous session.

Media stocks fell the most among sectors,

down 2.2%, with WPP Plc ( WPP ) declining 5.2%.

However, gains in precious metal miners

helped stem losses in the FTSE 100, up 5%, as gold prices moved

higher.

Fresnillo, Hochschild and Endeavour Mining ( EDVMF )

gained between 5.2% and 4.5%.

Among individual stocks, IG Group ( IGGRF ) said it had

acquired Australian cryptocurrency exchange Independent Reserve

for A$178 million ($117.4 million). Shares of the online trading

platform declined 2.9%.

Spire Healthcare jumped 14.1% after the private

hospital group said it was exploring strategic options,

including a potential sale of the company.

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