UK Stocks Decline Amid Earnings Reports and Interest Rate Decisions

UK stocks fell on Friday, impacted by weaker earnings and the Bank of England's interest rate decision, with IAG and Rightmove among the notable decliners. ITV surged on potential sale talks, while brokerages predict a rate cut in December. The FTSE 100 remains resilient despite global market fluctuations.

UK stocks took a hit on Friday, with IAG among the leading decliners, as the market braced for a week filled with earnings reports and a key interest rate decision by the Bank of England. The FTSE 100 fell 0.8% and midcap stocks dropped 0.5% by mid-morning.

Travel and leisure stocks experienced a significant downturn of 2.9%, with IAG in a steep decline of 8.4% due to concerns about the U.S. market. Real estate stocks also suffered, led by Rightmove's 12.5% drop after the property portal foresaw slower profit growth.

In contrast, ITV saw a 13.9% leap following preliminary talks of selling its media division to Sky for 1.6 billion pounds. Despite the downturn, the FTSE 100 showed resilience, staying among Europe's best performers, even as global markets faced challenges due to tech stock valuation worries and Fed rate cut concerns.

(With inputs from agencies.)