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Heavyweight financials, exporter stocks drag FTSE 100 lower

Updated: 14-06-2019 13:01 IST
Heavyweight financials, exporter stocks drag FTSE 100 lower

Image Credit: Flickr

London's main index inched lower on Friday due to losses in heavyweight financial companies and exporter stocks, while small-cap recruiter SThree advanced after reporting strong hiring in its international markets. The FTSE 100 shed 0.2% and the FTSE 250 was roughly flat by 0704 GMT.

An index of UK banks, which has been under pressure this week after protests in Hong Kong against a Chinese extradition bill, slipped for the fourth straight session. The dollar was also subdued ahead of a key U.S. Federal Reserve meeting next week where investors are expecting an interest rate cut, hitting exporters such as BAT.

Precious metals like gold were in demand as a result. Miner Fresnillo added 1.6%. Small-cap SThree, which hires workforce for financial, energy, banking and pharmaceutical companies, gained 4% as its net fees rose due to strength in its international markets.

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

COUNTRY : United Kingdom