London Stocks Dip Amid Economic Data Anticipation

London stocks saw a dip on Monday with investors anxiously awaiting key economic data. The FTSE 100 fell 0.6% and FTSE 250 dropped 0.4%. Anticipation surrounds wage and GDP data, with expectations that the Bank of England may cut rates. Aviva and Pennon stocks experienced notable declines.

London stocks dipped on Monday as investors await a slew of key domestic economic data this week, while life insurer Aviva added to the losses.

By 7:07 GMT, the blue-chip FTSE 100 was down 0.6% at a near two-week low, while the mid-cap FTSE 250 fell 0.4% to 20,467.8 points. Both the indexes were poised to log a second straight session of losses.

Investors are bracing for a slew of domestic economic data, including wages and GDP data, set to be released this week. Analysts, meanwhile, expect the Bank of England to move independently from the Federal Reserve and cut rates, but still moniter data closely.

The British central bank meets in less than two weeks to take a call on borrowing costs. Among broader markets, a snap legislative election called by French President Emmanuel Macron weighed on overall sentiment in Europe.

Back in Britain, all FTSE 350 sectors were in the red on the day. Among individual stocks, Aviva Plc lost 2.1% after JP Morgan downgraded its rating on the stock to "neutral" from "overweight" and removed it from its analyst focus list.

Pennon lost 1.3% after the water company named David Sproul as its chair designate.