* FTSE 100 down 0.5 pct, at 1-week low
* Miners hit by weak China data
* Johnson Matthey, SABMiller up after results
By Toni Vorobyova
LONDON, Nov 21 The FTSE 100 edged down to
one-week lows on Thursday as concerns about the scaling back of
U.S. Federal Reserve stimulus in coming months outweighed a crop
of solid earning reports from British blue chips.
Fed minutes, released after the European markets closed on
Wednesday, showed that officials could decide to reduce bond
purchases at one of their next meetings, thus depriving global
equity markets of a key upward catalyst.
"Our house view is that there is 25 percent chance in
December, 25 percent in January and 50 percent in March," said
Nick Xanders, who heads up European equity strategy at BTIG.
News of slowing factory growth in top metals consumer China
also weighed on Britain's miners-heavy bourse.
The FTSE 100 was down 31.80 points, or 0.5 percent, at
6,649.28 points by 0813 GMT. However, it managed to
outperform its European rivals thanks to some cheer from the
"The UK is growing better and will probably continue to do
so," said Xanders at BTIG. "I think they will continue to
Johnson Matthey led the FTSE 100 gainers, up 2.0
percent after the world's largest maker of catalysts to control
car emissions, posted a 13 percent rise in first-half profit,
helped by increased global production of cars and trucks and
demand for its speciality catalysts.
Results also lifted brewer SABMiller, which added
"Despite lackluster volume trends (plus 2 percent), it is
encouraging to see the margin expansion and pricing trends in
the company's key growth markets of LatAm, Africa, and Asia
Pacific," analysts at Liberum Capital said in a note.