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Miners, banks pull FTSE 100 down as inflation concerns weigh
Published at 12/10/2021 at 08:34

(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 1.0%, FTSE 250 off 0.8%

Oct 12 (Reuters) - London's FTSE 100 index fell on Tuesday, led by declines in heavyweight mining and banking stocks, as sentiment was weighed by higher energy costs, supply chain disruptions and an imminent rate hike that could affect quarterly corporate performance.

The blue-chip FTSE 100 index declined 1% at 0710 GMT, with miners Rio Tinto , Anglo American and BHP Group falling between 1.2% and 2.3%.

Industrial and precious metal miners

fell about 1% each, and banks

fell 1.5%.

The domestically focussed mid-cap index declined 0.8%, with capital goods stocks among the worst performers.

Payments specialist Equiniti , which is being bought by New York-based company Siris Capital, could face some job cuts once the deal is closed, the private equity firm said late on Monday. Its shares rose 0.5%.

On the macro front, UK's labour market showed signs of further recovery as employers added a record-high 207,000 staff to their payrolls in September and separate data showed UK's unemployment rate fell to 4.5% in the three months to August, reinforcing bets for a sooner Bank of England rate hike.

(Reporting by Bansari Mayur Kamdar; Editing by Amy Caren Daniel)

((BansariMayur.Kamdar@thomsonreuters.com;))

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