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Miners, energy drag UK stocks lower; Restaurant Group jumps

Published 10/03/2021, 09:37
Updated 10/03/2021, 09:42
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up/down 0.4%, FTSE 250 adds/off 0.5%

March 10 (Reuters) - A decline in mining stocks led British
shares lower on Wednesday, while energy stocks tracked a decline
in oil prices on expectations of a rise in U.S. inventories.
The blue-chip FTSE 100 index .FTSE fell 0.4%, with mining
stocks, including Rio Tinto RIO.L , Anglo American AAL.L and
BHP BHPB being the biggest drags.
oil producers BP BP.L and Royal Dutch Shell RDSa.L were
also among the laggards.
England's COVID-19 test and trace system has not yet proven
its worth as there is little evidence of its overall
effectiveness, the British parliament's Public Accounts
Committee said, decrying the "unimaginable" costs of the
programme. The domestically focused mid-cap FTSE 250 index .FTMC fell
0.5%, dragged by consumer discretionary stocks.
Restaurant Group RTN.L rose 13%, as it said it was
planning to raise 175 million pounds ($242.7 million) through a
share sale after the Frankie & Benny's owner posted a bigger
loss due to a hit to its business from Britain's latest round of
lockdowns. Insurer Legal & General LGEN.L fell 0.5%, after a 3% dip
in 2020 operating profit, hit by a slowdown in housebuilding and
demand for life insurance products due to the pandemic.

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