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UK shares fall as higher bond yields weigh

Published 05/03/2021, 09:13
Updated 05/03/2021, 09:18
© Reuters.
UK100
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BP
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LLOY
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PRU
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RDSa
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RIO
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AAL
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BHPB
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LSEG
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AGGK
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FTMC
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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 0.7%, FTSE 250 off 0.7%

March 5 (Reuters) - 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 .FTSE fell 0.7%, with banking
and mining stocks, including Prudential Plc PRU.L , Lloyds
banking LLOY.L , Rio Tinto RIO.L , Anglo American AAL.L , and
BHP BHPB.L , leading declines.
Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L ,
however, gained 0.7% and 0.4%, respectively, as oil prices
climbed after OPEC and its allies agreed to extend output cuts
to April. O/R
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. MKTS/GLOB
The UK domestically focused mid-cap FTSE 250 index .FTMC
fell 0.7%, dragged down by consumer discretionary and financial
stocks.
Equipment rental company Aggreko AGGK.L 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 LSEG.L 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.

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