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On Monday, the FTSE 100 of the UK saw a slight decrease down 0.15% as metal miners gained due to positive economic data from China. However, the index was weighed down by losses in consumer healthcare firm Haleon following Pfizer's stake sale. Investors will be paying close attention to the domestic inflation data for February, which is scheduled to be released on Wednesday, just a day before the Bank of England's interest rate decision. While it is anticipated that the central bank will maintain current interest rates in the upcoming meeting, the main focus will be on determining when the first rate cut will occur.

UK-based Haleon's stock drops as its top shareholder, Pfizer, plans to reduce its stake. The consumer healthcare company's shares are down 2.3% at 314.75 pence in early trading. Pfizer intends to sell down its stake in HLN to about 24%, with the offer price to be announced on or around March 19. The stake sale, valued at approximately 630 million pounds, would be worth around 2.03 billion pounds based on HLN's last closing price of 322.30 pence. In addition, HLN will repurchase 315 million pounds worth of shares off-market from Pfizer. The stock has seen a 1.2% increase in the last 12 months as of the latest closing. 

Phoenix Group faced pressure sitting at the bottom of the blue chip index down over 4%, after The Times indicated that it is expected to announce a one-time provision of £70m in its yearly financial results on Friday to account for the expenses of lowering customer fees. As per The Times, this provision will account for a decrease in yearly pension fees for existing funds, as well as other customer assistance measures, to adhere to the new consumer duty regulations set by the Financial Conduct Authority.

On the positive side of the ledgerReckitt Benckiser rebounded after experiencing a significant drop in value on Friday due to worries about compensation related to baby formula. The stock plummeted following a report by Reuters that an Illinois jury had mandated Reckitt's unit Mead Johnson to pay $60m to the mother of a premature baby who passed away from an intestinal illness after consuming the company's Enfamil baby formula. Beazley saw an increase of over 2.3%, as RBC Capital Markets raised its price target for the shares to 975p from 775p and labelled it as their top choice, 

FTSE Bias: Bullish Above Bearish below 7700

• Below 7590 opens 7550
• Primary support 7635
• Primary objective 7860
• 5 Day VWAP bearish
• 20 Day VWAP bullish

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