UK shares fall as higher bond yields weigh

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. The UK domestically focused mid-cap FTSE 250 index fell 0.7%, dragged down by consumer discretionary and financial stocks.

Reuters | Updated: 05-03-2021 13:44 IST | Created: 05-03-2021 13:44 IST
UK shares fall as higher bond yields weigh

London's FTSE 100 fell on Friday, as a persistent rise in bond yields globally led to fears of higher inflation and borrowing costs, while energy stocks rose on higher crude oil prices. The blue-chip FTSE 100 index fell 0.7%, with banking and mining stocks, including Prudential Plc, Lloyds banking, Rio Tinto, Anglo American, and BHP, leading declines.

Oil heavyweights BP and Royal Dutch Shell, however, gained 0.7% and 0.4%, respectively, as oil prices climbed after OPEC and its allies agreed to extend output cuts to April. 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.

The UK domestically focused mid-cap FTSE 250 index fell 0.7%, dragged down by consumer discretionary and financial stocks. Equipment rental company Aggreko rose 1.2%, as it backed a 2.32 billion pound ($3.22 billion) buyout offer from private equity firms TDR Capital LLP and I Squared Capital.

London Stock Exchange Group fell 4.4%, even after announcing a 7% dividend increase as integration of its $27 billion acquisition of data and analytics company Refinitiv stepped up a gear.

(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

Israel: Rocket from Gaza is 2nd in 24 hours; no injuries

The Israeli military says Palestinian militants fired a rocket from Gaza into the countrys south Friday, the second incident in 24 hours.The rocket caused no damage or injuries.In response, Israeli fighter jets and helicopters hit five site...

India reports another record daily rise in COVID-19 infections

India reported a record daily increase of 234,692 COVID-19 infections over the last 24 hours, health ministry data showed on Saturday. It was the eighth record daily increase in the last nine days.Total cases reached nearly 14.5 million, se...

Myanmar pardons prisoners, unclear if activists among them

Myanmars junta on Saturday announced it pardoned and released more than 23,000 prisoners to mark the new year holiday, but it wasnt immediately clear if they included pro-democracy activists who were detained in the wake of the February cou...

Polling underway for Nagarjuna Sagar Assembly segment in Telangana

Voting is underway for the bypoll to Nagarjuna Sagar assembly constituency in Telangana on Saturday with voters queuing up to exercise their franchise.Polling began at 7 am and will conclude at 7 pm, poll officials said.COVID-19 safety prot...

Give Feedback