FTSE 100 falls as high bond yields, energy stocks weigh

  • 3/19/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) * FTSE 100 down 1.2%, FTSE 250 off 0.8% March 19 (Reuters) - London’s FTSE 100 fell on Friday, hit by higher bond yields globally, while energy stocks dropped as fresh COVID-19 lockdowns across Europe dampened hopes of a swift recovery in demand. The blue-chip FTSE 100 index was down 1.2%, with oil heavyweights BP Plc and Royal Dutch Shell Plc falling 3.2% and 3.0%, respectively. Mining and bank stocks including Rio Tinto, Anglo American, BHP Group, HSBC holdings and Barclays were also among the biggest drags on the index. A weaker overnight finish on Wall Street following a jump in U.S. Treasury yields also spilled over to Asian equities earlier in the day. In the UK, data showed consumer morale jumped to a one-year high in March as the public became increasingly confident of a strong economic rebound from the COVID-19 pandemic, a day after the Bank of England also said the domestic recovery was gathering pace. The domestically focused mid-cap FTSE 250 index fell 0.8%, dragged down by industrial stocks. Pub operator J D Wetherspoon fell 1.1%, on a half-yearly loss, compared with a year-earlier profit, as hundreds of its pubs across the UK were shuttered through the key holiday season due to the coronavirus-led restrictions. Natwest Group rose 0.4%, after agreeing to buy back 1.1 billion pounds ($1.53 billion) of shares from the British government. (Reporting by Shivani Kumaresan in Bengaluru; Editing by Ramakrishnan M.)

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