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

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

... ...

Privacy and data protection: Reviewing notable policy frameworks

The evolved privacy principles and the resulting legislation across the world primarily aim to force the data collector to define the purpose for which the data is being collected along with the need to obtain explicit consent for the said ...

Videos

Latest News

English shops and pub gardens reopen in 'major step' to freedom

Englands shops, hairdressers, gyms and pub gardens will reopen on Monday in what Prime Minister Boris Johnson said was a major step towards freedom from the restrictions of the COVID-19 pandemic. Hundreds of thousands of businesses have bee...

Golf-Matsuyama makes turn five shots clear at Masters

Hideki Matsuyama, bidding to become the first Japanese man to win a major, held a commanding five-shot lead over Masters rookie Will Zalatoris midway through his final round at Augusta National on Sunday. Matsuyama, who began the day with a...

Entertainment News Roundup: Taylor Swift releases re-recording of hit 2008 "Fearless" album; French audiences develop a taste for window theatre and more

Following is a summary of current entertainment news briefs.Top Gun sequel delayed in summer movie setback for theatersParamount Pictures has pushed the release Tom Cruise movie Top Gun Maverick to November from July, the studio said on Fri...

Science News Roundup: UAE selects first Arab woman for astronaut training

Following is a summary of current science news briefs.UAE selects first Arab woman for astronaut trainingThe United Arab Emirates has selected the first Arab woman to train as an astronaut, as the Gulf country rapidly expands into the space...

Give Feedback