The Bank of England lowered its key rate to 5% from 5.25% after it weighed weak conditions in housing market and rising pressures on inflation. The Bank also indicated that economic conditions are likely to be challenging for the rest of the year. Separately, ECB left its rate unchanged and worried that tight labor markets may fuel inflation. Retailers in UK fell after DSG lowered its earnings estimate and Kingfisher indicated tough retail environment.
Bloomberg news reported yesterday that Blackstone Group LP and CVC Capital Partners Ltd. are jointly interested in buying a 29.9% in Mitchells & Butlers Plc.
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