Latest News

UK News

Click Here to read UK News

Forex News

Click Here to read Forex News

Market News

Click Here to read Market News

Irish News
/fxcentre/i-want-to/read-news
UPDATE 2-FTSE 100 snaps 3-day winning streak as high yields weigh
Published at 04/03/2021 at 17:10

(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

ended down 0.4%, with mining stocks, including Rio Tinto

, Anglo American , Glencore and BHP

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.

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 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 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 rose 3.5%, after an upbeat forecast and resuming its dividend.

Admiral 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.

(Reporting by Shivani Kumaresan and Amal S in Bengaluru; editing by Rashmi Aich and Steve Orlofsky)

((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))

(( For related prices, Reuters users may click on - *

UK stock report

FTSE index:

techMARK 100 index: FTSE futures:

Gilt futures: Smallcap index:

FTSE 250 index: FTSE 350 index:

Market digest: Top 10 by vol:

Top price gainers: Top % gainers:

Top price losers: Top % losers:

* For related news, click on - *

UK hot stocks: and Wall Street:

Gilts report: Euro bond report

Pan European stock report:

Tokyo stocks: HK stocks:

Sterling report: Dollar report:

* For company prices, click on - *

Company directory: By sector:

* For pan-European market data, click on - *

European Equities speed guide................

FTSE Eurotop 300 index...........................

DJ STOXX index...................................

Top 10 STOXX sectors........................

Top 10 EUROSTOXX sectors...................

Top 10 Eurotop 300 sectors..................

Top 25 European pct gainers....................

Top 25 European pct losers..................... ))