FTSE 100 drops 1% as commodity, financials stock weigh

  • 9/9/2021
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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 1.1%, FTSE 250 off 0.7% Sept 9 (Reuters) - London’s FTSE 100 index slumped on Thursday as heavyweight commodity and financial stocks fell on concerns over slowing economic growth, while easyJet dropped to the bottom of mid-cap index after its share sale plan. The blue-chip index fell 1.1% and was on course for its worst daily performance in three weeks. Miners slumped 1.2%, tracking iron-ore prices. Oil and gas shares were down, with BP and Royal Dutch Shell shedding about 1.5% each to weigh the most on the index. The domestically focused mid-cap FTSE 250 index declined 0.7%.British airline easyJet fell 6.3% after it announced a fully underwritten rights issue to raise 1.2 billion pounds ($1.7 billion) plus a new debt facility to help its pandemic recovery, and added that it had recently rejected a takeover offer. Genus slid 8.7% as Peel Hunt downgraded the livestock genetics firm’s stock to “hold” from “buy” after it missed annual profit estimates. (Reporting by Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty)

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