London’s stock market eased yesterday awaiting the Wall Street business and an interest-rate update from the US Federal Reserve, with much of the world’s indices shut for May Day.

London’s benchmark FTSE 100 index dipped 0.1 per cent at one point yesterday compared with the close on Tuesday. The dollar fell against its main rivals.

In London, data yesterday showed Britain’s manufacturing sector slowed last month on Brexit uncertainty. The Markit/CIPS UK manufacturing purchasing managers’ index (PMI) for April came in at 53.1, down from 55.1 in March.

A figure above 50 indicates growth.

Federal Reserve Chairman Jerome Powell was yesterday expected to announce that the US central bank will keep its main interest rate at 2.25-2.5 per cent.

But as the Fed on Tuesday kicked off its third meet of the year, US President Donald Trump again slammed it for prior interest rate hikes and reiterated his call for a cut.

New York’s S&P 500 stocks index edged to a third straight record-high on Tuesday, while the Nasdaq finished lower on poorly-received earnings from Google-parent Alphabet.

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