Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

UPDATE 2-FTSE 100 snaps 3-day winning streak as high yields weigh

Published 04/03/2021, 10:32
Updated 04/03/2021, 18:12
© Reuters.

© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Bond worries resurface
* Vistry Group rises on upbeat outlook
* FTSE 100 down 0.4%, FTSE 250 off 0.7%

(Updates to close)
By Shivani Kumaresan and Amal S
March 4 (Reuters) - London's FTSE 100 fell on Thursday,
snapping three days of gains as most sectors dropped on concerns
over higher Treasury yields and inflation, while major miners
traded ex-dividend.
After falling as much 1.3%, the blue-chip FTSE 100 index
.FTSE ended down 0.4%, with mining stocks, including Rio Tinto
RIO.L , Anglo American AAL.L , Glencore GLEN.L and BHP
BHPB.L among the biggest weights.
Rio Tinto and BHP were trading ex-dividend.
"Inflation is a dog that hasn't barked despite huge monetary
stimulus over the last 12 years, and the fears we're seeing in
the market today could well fizzle out before raising government
bond yields much higher," said Laith Khalaf, financial analyst
at AJ Bell.
Resurgent worries about rising U.S. bond yields hit global
shares as investors waited to see if Federal Reserve Chair
Jerome Powell will address concerns about the risk of a rapid
rise in long-term borrowing costs. MKTS/GLOB
Bank of England policymaker Silvana Tenreyro said there was
no good evidence that cutting interest rates below zero would,
past a certain point, weaken Britain's economy rather than boost
it. The FTSE 100 has recovered around 35% from a
coronavirus-driven crash last year but has stayed below
pre-pandemic levels due to a raft of new lockdown measures.
The domestically focused mid-cap FTSE 250 index .FTMC fell
0.7% on Thursday.
Meanwhile, British new car registrations fell by an annual
35.5% last month to their lowest February level since 1959 as
lockdown measures kept dealerships closed to the public, an
industry body said. Melrose Industries MRON.L was the best performer on the
FTSE 100, after the engineering business owner said it had begun
a sale process for its Nortek air-conditioning division.
Homebuilder Vistry Group VTYV.L rose 3.5%, after an upbeat
forecast and resuming its dividend. Admiral ADML.L fell 2.7% after the motor insurer said an
expected a rise in claims when lockdowns ease would increase its
loss ratio this year, with the warning eclipsing a 20% jump in
2020 earnings.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.