Morning markets watch: MPC expected to keep rates at 5%

Sterling fell against the euro as the Bank of England is expected to halt interest rates at 5% today....

Sterling fell against the euro as the Bank of England is expected to halt interest rates at 5% today. The pound weakened to 79.29p per euro this morning from 79.11p yesterday as the MPC are not expected to make any changes to the base rate with the threat of recession in the UK and high inflation. The FTSE 100 opened at 5486.10, an increase from its closing level of 5467.9 yesterday. The biggest upward movers were RSA Insurance, Eurasian Natural Resources and pharmaceutical firm Shire. RSA Insurance, Britain’s second-largest insurer, posted a profit rise of 9% in the first half of the...