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FTSE 100 falls as high yields, inflation worries return to fore

Published 04/03/2021, 09:28
Updated 04/03/2021, 09:30
© Reuters.
UK100
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RIO
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AAL
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BHPB
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FTMC
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ENT
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 down 0.5%, FTSE 250 off 0.5%

March 4 (Reuters) - London's FTSE 100 fell on Thursday,
dragged by miners and bank stocks on concerns about rising bond
yields and volatility in U.S. markets, while engineering company
Meggitt fell after its annual profit halved due to the COVID-19
pandemic.
The blue-chip FTSE 100 index .FTSE slid 0.5%, with mining
stocks, including Rio Tinto RIO.L , Anglo American AAL.L , and
BHP BHPB.L , leading the declines.
Resurgent worries about rising U.S. bond yields hit global
shares as investors waited to see if Federal Reserve Chair
Jerome Powell will address concerns about the risk of a rapid
rise in long-term borrowing costs. MKTS/GLOB
Meanwhile, Bank of England policymaker Silvana Tenreyro said
there was no good evidence that cutting interest rates below
zero would, past a certain point, weaken Britain's economy
rather than boost it. The domestically focused mid-cap FTSE 250 index .FTMC fell
0.5%.
Ladbrokes owner Entain ENT.L fell 2.0% after it held back
declaring a dividend despite reporting a jump in 2020 earnings.
It also said it was expecting online volumes to ease when shops
re-open after surging during lockdowns.

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