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UPDATE 2-FTSE 100 marks weakest day in three weeks as bank, commodity-linked stocks weigh

Published 19/03/2021, 10:27
© Reuters.
UK100
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HSBA
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BARC
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BP
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NWG
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RDSa
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US10YT=X
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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)
* Consumer morale jumps to one-year high
* Wetherspoon falls on half-yearly loss
* FTSE 100 down 1.1%, FTSE 250 off 0.7%

(Updates to close)
By Amal S
March 19 (Reuters) - London's FTSE 100 marked its weakest
session since late-February on Friday, as a retreat in U.S.
Treasury yields weighed on bank stocks, while mining and energy
stocks tracked weaker commodity prices.
The blue-chip FTSE 100 index .FTSE was down 1.1%,
underperforming its European peers, and posted its first weekly
decline in three weeks.
Bank stocks including HSBC holdings HSBA.L , Barclays
BARC.L and Lloyds Banking LLOY.L fell between 0.7% and 2.4%
after U.S. Treasury yields retreated from a 14-month high. US/
Mining stocks including Rio Tinto RIO.L , Anglo American
AAL.L and BHP BHPB.L , were among the biggest drags on the
index, while oil heavyweights BP BP.L and Royal Dutch Shell
RDSa.L also fell, tracking a fall in oil and metal prices.
O/R MET/L
"We have seen a bit of a dip in Treasury yields that has
taken some of the shine off the banking sector and all the
mining and oil companies are suffering from the volatility in
commodity prices," said David Madden, analyst at CMC Markets.
The domestically focused FTSE 250 index .FTMC fell 0.7%,
dragged down by industrials .FTNMX2720 stocks.
While optimism about a British economic recovery has seen
the mid-cap index trading close to highs scaled before the
coronavirus pandemic, the FTSE 100 has fallen behind due to its
sensitivity to international markets, particularly commodity
prices, sterling and U.S. Treasury yields.
In Britain, data showed consumer morale jumped to a one-year
high in March as the public became increasingly confident of a
strong economic rebound from the COVID-19 pandemic. Pub operator J D Wetherspoon JDW.L fell 2.3%, after posting
a half-yearly loss, compared with a year-earlier profit, as
hundreds of its pubs across Britain were shuttered through the
key holiday season due to coronavirus restrictions.

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