Investing.com - Financial Markets Worldwide

UK shares inch lower as stronger pound, consumer spending data weigh

Published 09/03/2021, 09:16
Updated 09/03/2021, 09:18
© Reuters.
UK100
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HSBA
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BARC
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LLOY
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RIO
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AAL
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BHPB
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CNE
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TCAPI
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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 0.2%, FTSE 250 off 0.1%

March 9 (Reuters) - London's FTSE 100 fell on Tuesday after
a solid start to the week, as a stronger pound pressured
exporters, while data showed a nationwide lockdown hurt consumer
spending in February.
The blue-chip FTSE 100 index .FTSE fell 0.2%, dragged down
by mining stocks, including Rio Tinto RIO.L , Anglo American
AAL.L and BHP BHPB.L , falling between 2.6% and 3.5%.
Bank stocks, HSBC Holdings HSBA.L , Lloyds Banking group
LLOY.L , and Barclays Plc BARC.L were also among the
laggards.
British consumers cut back heavily on spending as they spent
a second month in a COVID-19 lockdown in February but confidence
in the economy hit a 12-month high, payment card firm
Barclaycard said. The domestically focused mid-cap FTSE 250 index .FTMC fell
0.1%, led by declines in communication services stocks.
World's largest inter-dealer broker TP ICAP Plc TCAPI.L
fell 2.7%, after it halved its dividend citing a one-off
reduction, and said first-quarter revenue might be lower
compared to 2020. Cairn Energy CNE.L slumped 7.0%, after agreeing to sell
its interests in the UK Catcher and Kraken oil fields in the
North Sea to Waldorf Production Ltd for $460 million in cash.

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