UK stocks ease as BoE rate split clouds outlook; Fed revamp in focus

Aug 8 (Reuters) - British stocks edged lower on Friday, following the previous session's decline after a Bank of England rate decision stirred inflation concerns, while investors assessed U.S. President Donald Trump's interim pick for Federal Reserve governor.

Both the blue-chip FTSE 100 .FTSE and the domestically focused midcap FTSE 250 index .FTMC slipped 0.1% as of 0915 GMT. But both indices were on track for a weekly gain.

Investors this week weighed a slew of strong corporate earnings that helped British equities recover from last Friday's steepest drop in nearly four months.

However, sentiment remained fragile following the BoE's split rate decision, where four of nine policymakers voted to hold rates steady amid persistent inflation concerns - signaling that the central bank's rate-cutting cycle may be nearing its end.

Meanwhile, expectations for rate cuts in the U.S. solidified after Trump said he will nominate Council of Economic Advisers Chairman Stephen Miran to fill a vacant seat at the Federal Reserve for a few months, as the White House continues its search for a successor to Fed Chair Jerome Powell, whose term ends on May 15, 2026.

The market is weighing the possibility that by appointing Miran to the Fed, even temporarily, may be a potential move by Trump to exert greater influence over monetary policy, aligning with his long-standing push for lower interest rates.

On the day, precious .FTNMX551030 and industrial .FTNMX551020 metal miners were the leading sectoral gainers, up between 1.5% and 1.1%, tracking higher gold and copper prices, respectively. GOL/ MET/L

Miners such as Glencore GLEN.L and Fresnillo FRES.L were among the top percentage gainers on FTSE 100, up 2.5% and 3.2% respectively.

London-listed shares of Georgia's TBC Bank TBCG.L fell the most in the FTSE 250, down 11%, after the lender reported its half-year results.

Heading into the weekend, most of the firms pared back gains from earlier in the week, led by declines in chemical .FTNMX552010 and travel & leisure .FTNMX405010 stocks, which fell 1.4% and 1.2%, respectively.

 
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