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FTSE 100, FTSE 250 off 0.5% each
May 4 (Reuters) - London's FTSE 100 fell on Thursday, with losses from miners dragging the commodity-heavy index down, while broader market sentiment was also downbeat after U.S. Federal Reserve chair Jerome Powell said inflation was still a concern. The blue-chip index and the mid-cap FTSE 250 index shed 0.5% each, as of 0718 GMT. Base metal miners fell 1.8%, even as metal prices rose, as a weaker-than-expected demand recovery in top consumer China prevented dented sentiment. Oil and gas stocks , however, rose 1.5%, led by a 2.2% rise in Shell as the oil giant posted first-quarter net profit of $9.65 billion, topping analysts' forecasts.
The Fed raised interest rates by 25 basis points on Wednesday and signalled it may pause further increases.
However, Fed chair Jerome Powell's view that inflation was still a concern caused uncertainty among investors on its monetary policy trajectory.
Markets also await the European Central Bank's rate decision
due at 1215 GMT.
(Reporting by Shristi Achar A in Bengaluru)
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