FTSE 100 drops over 1% in dour start to new quarter

  • 10/1/2021
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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 1.2% Oct 1 (Reuters) - London’s FTSE 100 index fell on Friday on weakness in banks and commodity-linked stocks, while AO World slumped after revenue growth was hit by global supply chain disruptions. The blue-chip FTSE 100 index dropped 1.1%, with oil stocks, miners and financials among the worst performers. BP and Royal Dutch Shell shed 1.7% and 1.0%, respectively, tracking oil prices lower. Online electricals retailer AO World fell 11.3% after reporting that its revenue in the first half was hit by a shortage of delivery drivers in the UK and other disruptions to the global supply chain. The domestically focussed mid-cap index declined 1.2% on weakness in travel and leisure shares. Pub operator Wetherspoon dropped 4.7% after reporting a near doubling of its annual losses as sales were hit by COVID-19 restrictions. (Reporting by Bansari Mayur Kamdar; Editing by Sriraj Kalluvila) Our Standards: The Thomson Reuters Trust Principles.

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