FTSE 100 falls as high yields, inflation worries return to fore

Meanwhile, Bank of England policymaker Silvana Tenreyro said there was no good evidence that cutting interest rates below zero would, past a certain point, weaken Britain's economy rather than boost it. The domestically focused mid-cap FTSE 250 index fell 0.5%.

Reuters | London | Updated: 04-03-2021 14:26 IST | Created: 04-03-2021 13:59 IST
FTSE 100 falls as high yields, inflation worries return to fore
Representative image Image Credit: Flickr

London's FTSE 100 fell on Thursday, dragged by miners and bank stocks on concerns about rising bond yields and volatility in U.S. markets, while engineering company Meggitt fell after its annual profit halved due to the COVID-19 pandemic. The blue-chip FTSE 100 index slid 0.5%, with mining stocks, including Rio Tinto, Anglo American, and BHP, leading the declines.

Resurgent worries about rising U.S. bond yields hit global shares as investors waited to see if Federal Reserve Chair Jerome Powell will address concerns about the risk of a rapid rise in long-term borrowing costs. Meanwhile, Bank of England policymaker Silvana Tenreyro said there was no good evidence that cutting interest rates below zero would, past a certain point, weaken Britain's economy rather than boost it.

The domestically focused mid-cap FTSE 250 index fell 0.5%. Ladbrokes owner Entain fell 2.0% after it held back declaring a dividend despite reporting a jump in 2020 earnings. It also said it was expecting online volumes to ease when shops re-open after surging during lockdowns.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Viral variants and vaccine nationalism pose two-pronged threat to Covid victory

... ...

Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....

World Water Day sees crises of inequality in countries both rich and poor

... ...

Videos

Latest News

Oberoi Group inks pact with EESL to further sustainability initiatives

The Oberoi Group has inked a memorandum of understanding MoU with state-run EESL to further its sustainability initiatives. With the aim to augment its sustainability initiatives, The Oberoi Group has signed an MoU with Energy Efficiency Pr...

AstraZeneca, mining stocks pull FTSE 100 higher; Tesco caps gains

Londons FTSE 100 edged higher in choppy trading on Wednesday, helped by gains in heavyweight mining stocks and shares of AstraZeneca, while Tesco slipped to the bottom of the index after reporting a 20 drop in full-year pretax profit.The bl...

AYUSH Ministry's manufacturing unit IMPCL achieves highest-ever turnover of over Rs 160 crore

With its products attracting more buyers, Indian Medicines Pharmaceutical Corporation Limited IMPCL, the public sector manufacturing unit of the Ministry of AYUSH, has recorded its highest-ever turnover of Rs 164 crore in 2020-21.The compan...

Alarmed by rising COVID cases, Priyanka Gandhi holds meeting with UP leaders

Congress General Secretary Priyanka Gandhi Vadra on Wednesday held a virtual meeting with party leaders of Uttar Pradesh to discuss the COVID-19 situation in the state. Amid a surge in COVID-19 cases in the state, Priyanka Gandhi and other ...

Give Feedback