UK: FTSE 100 Index fell 0.7% on Friday | Web News Observer

UK: FTSE 100 Index fell 0.7% on Friday

London’s FTSE 100 fell on Friday, as a persistent rise in bond yields led to fears of higher inflation and borrowing costs, while energy stocks rose on higher crude oil prices.

However, oil heavyweights B.P. and Royal Dutch Shell gained 0.7 percent and 0.4%, respectively, as oil prices climbed after OPEC and its allies agreed to expand output reductions to April.

The blue-chip FTSE 100 index fell 0.7 percent, with banking and mining stocks, such as Prudential Plc, Lloyds banking, Rio Tinto, Anglo American, and BHP, leading declines.

The U.K. domestically focused mid-cap FTSE 250 index fell 0.7 percent, dragged down by consumer discretionary and financial stocks.

A weaker overnight finish on Wall Street following a jump in U.S. Treasury yields also spilled over to Asian equities earlier in the day.

London Stock Exchange Group dropped 4.4 percent, even after announcing a 7 percent dividend growth as an integration of its $27 billion acquisition of data and analytics firm Refinitiv stepped up a gear.

Gear rental company Aggreko climbed 1.2 percent, as it backed a 2.32 billion pound ($3.22 billion) buyout offer from private equity companies TDR Capital LLP and I Squared Capital.

(With inputs from agencies)

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