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

COVID-19: Streets in Mumbai wear deserted look amid Section 144 imposition

Streets wore a deserted look in Mumbai following the imposition of Section 144 in the entire state by the Maharashtra government in an attempt to curb the spread of the coronavirus. To prevent the COVID-19 surge in the state, Maharashtra Ch...

11 policemen held hostage by banned TLP released: Pak Interior Minister Rashid

Interior Minister Sheikh Rashid in the early hours of Monday announced that after the first round of talks with the recently proscribed Tehreek-i-Labbaik Pakistan TLP, 11 policemen who were taken hostage in Lahore have been released. In a v...

Vera Gedroits: Google Doodle pays tribute to Russian surgeon and professor on her 151st birthday

Happy Birthday, Vera GedroitsToday Google dedicates a beautiful doodle to celebrate Russian surgeon, professor, poet, and author Dr. Vera Gedroits on her 151st birthday. Dr. Gedroits is credited as the countrys first female military surgeon...

Argentine court orders city schools in Buenos Aires to open despite COVID-19 surge

Schools in the Argentine capital of Buenos Aires will open after all on Monday morning after a court over-ruled a federal order requiring classes go on-line for two weeks amid a surge in cases that has brought hospitals to near collapse.The...

Give Feedback