By Carla Mozee, MarketWatch
U.K. stocks fell Tuesday, moving off a record close notched in
the previous session, ahead of the release of quarterly growth
figures for the country.
The FTSE 100 fell 0.4% to 7,073.30, with only oil and gas, and
utilities sectors moving higher. The blue-chip index on Monday
(http://www.marketwatch.com/story/ftse-100-moves-lower-but-hsbc-outperforms-2015-04-27)
notched a all-time closing high of 7,103.98.
Among Tuesday's decliners, Whitbread PLC fell 1% after the
company said Chief Executive Andy Harrison will retire by February
2016
(http://www.marketwatch.com/story/whitbread-ceo-to-retire-2015-profit-rises-2015-04-28).
The operator of the Costa Coffee and Premier Inn hotel chains also
said profit and revenue rose in fiscal 2015.
But BP PLC (BP) shares rose 0.9% as the oil major said
underlying replacement-cost profit for the first quarter came in at
$2.58 billion
(http://www.marketwatch.com/story/bp-posts-fall-in-profit-as-lower-oil-prices-bite-2015-04-28),
above an expected $1.28 billion.
Investors will look for first-quarter gross domestic product
numbers from the Office for National Statistics at 9:30 a.m. London
time, or 4:30 a.m. Eastern Time. Analysts polled by FactSet expect
growth of 0.6% from the fourth quarter of 2014, and expansion of
2.7% from the year-earlier period.
The pound (GBPUSD) was trading at $1.5242, compared with $1.5239
late Monday in New York.
Weak growth "along with the zero inflation rate and the
uncertain political outcome in the upcoming elections could result
in rate-hike expectations getting pushed back even further. This
could put selling pressure" on the pound, said Marshall Gittler,
head of global currency strategy, at IronFX Global Ltd., in a
note.
The growth figures are the last major reading on the U.K.
economy before the May 7 general election.
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