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FTSE 100 tracks Asia weakness after tech sell-off; Ashmore dips

Published 11/09/2020, 08:20
Updated 11/09/2020, 08:24
© Reuters.
UK100
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BP
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SHEL
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ASHM
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FTMC
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* FTSE 100 flat, FTSE 250 up 0.1%

Sept 11 (Reuters) - London's FTSE 100 was subdued on Friday,
tracking weakness in Asia as Wall Street's tech rout hit global
investor sentiment, while Ashmore inched lower after the money
manager posted a drop in assets under management.
The blue-chip FTSE 100 .FTSE was flat by 0704 GMT, with a
dip in oil prices hitting shares of BP Plc BP.L and Royal
Dutch Shell Plc RDSa.L . Financials were also among the
decliners in early trading.
Still, the index was on course for its best weekly gain
since June as a weaker pound boosted demand for its export-heavy
constituents after no-deal Brexit fears returned to the
forefront. The mid-cap FTSE 250 .FTMC edged up 0.1%, with consumer
goods, healthcare and real estate stocks leading gains.
Data on Friday showed Britain's economy grew for a third
month in a row in July as pubs, restaurants and other sectors
reopened after the coronavirus lockdown, but new business
restrictions in England are likely to threaten the nascent
rebound.
Emerging markets-focused money manager Ashmore ASHM.L fell
0.3% as a coronavirus-driven selloff in markets earlier this
year hit its assets under management.

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