U.K. stocks pared their decline as investors awaited Bank of England Governor Mark Carney's review of guidance for interest rates.
Randgold Resources Ltd. (RRS) slid 4.1 percent after reporting that second-quarter net income slumped. Rio Tinto Group, the world's second-biggest commodity producer, lost 1.7 percent. Old Mutual Plc (OML) advanced 5.3 percent after Africa's biggest insurer said profit rose 14 percent in the first half.
The FTSE 100 Index (UKX) slipped 10.36 points, or 0.2 percent, to 6,593.85 at 9:55 a.m. in London, paring a drop of as much as 0.6 percent. The equity benchmark has still rallied 9.4 percent from a low on June 24 as the Federal Reserve said it remains flexible on the pace of bond buying and as the BOE gave forward guidance on interest rates for the first time. The broader FTSE All-Share Index also retreated 0.2 percent today, while Ireland's ISEQ Index lost 0.4 percent.
In his first press conference since taking office in July, Carney will discuss policy makers' analysis of future interest rates and the thresholds governing its quantitative-easing program. The BOE's Monetary Policy Committee last week left its target for bond purchases at 375 billion pounds ($574 billion) and its key rate at 0.5 percent, a record low.
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Carney speaks at 10:30 a.m. in London, after the MPC releases its quarterly report on inflation.
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