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

Redmi gaming phone key specifications leaked; 144Hz display, 67W fast-charging and more

Redmi is gearing up for the launch of its first gaming smartphone in China later this month. Ahead of the official launch, key specifications of the upcoming device have surfaced online.As per the latest leaks, the Redmi gaming smartphone w...

Polling begins for second phase of UP Panchayat elections

Voting for the second phase of the Uttar Pradesh Panchayat elections began on Monday with COVID-19 protocols in place. Over three crore voters will decide the fate of the candidates in 20 districts of the state including, the state capital ...

Japan's Osaka to ask govt to declare state of emergency - governor

Osaka will ask the Japanese government to declare a state of emergency in an effort to reverse the rise in coronavirus cases, the governor of the countrys third-most populous prefecture said on Monday. Osaka and several other prefectures ha...

Mexican authorities probe former governor of Veracruz state

Mexican authorities said on Sunday that they were investigating a former governor of the Gulf Coast state of Veracruz for crimes he allegedly committed while in charge of the federal government workers social security body. The attorney gen...

Give Feedback