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

1,400 to 2,000 beds to be readied for COVID-19 patients in Delhi in two days: Kejriwal

Chief Minister Arvind Kejriwal on Sunday announced that 1,400 to 2,000 beds will be readied for COVID-19 patients in the city in the next two days, as the city grappled with a shortage of oxygen and beds amid a surge in coronavirus cases.He...

Cases filed against two hospitals in Delhi for turning away COVID patients

Cases were registered against two hospitals in Delhi on Sunday for turning away COVID-19 patients, a day after Chief Minister Arvind Kejriwal warned them of strict action if found giving wrong information about availability of beds. Complai...

J-K: Educational institutions shut till mid-May, curbs on gatherings amid spike in COVID-19 cases

In a series of measures aimed at preventing the spread of COVID-19 infection, the Jammu and Kashmir administration on Sunday ordered closure of all educational institutions, including colleges and universities, till May 15.The administratio...

Oxygen shortage forces BMC to shift 168 COVID-19 patients

The Brihanmumbai Municipal Corporation BMC had to shift 168 COVID-19 patients from six civic-run hospitals as these facilities ran out of oxygen, a top official said on Sunday.These patients had to be moved to other hospitals early on Satur...

Give Feedback