AGL 38.48 Decreased By ▼ -0.08 (-0.21%)
AIRLINK 203.02 Decreased By ▼ -4.75 (-2.29%)
BOP 10.17 Increased By ▲ 0.11 (1.09%)
CNERGY 6.54 Decreased By ▼ -0.54 (-7.63%)
DCL 9.58 Decreased By ▼ -0.41 (-4.1%)
DFML 40.02 Decreased By ▼ -1.12 (-2.72%)
DGKC 98.08 Decreased By ▼ -5.38 (-5.2%)
FCCL 34.96 Decreased By ▼ -1.39 (-3.82%)
FFBL 86.43 Decreased By ▼ -5.16 (-5.63%)
FFL 13.90 Decreased By ▼ -0.70 (-4.79%)
HUBC 131.57 Decreased By ▼ -7.86 (-5.64%)
HUMNL 14.02 Decreased By ▼ -0.08 (-0.57%)
KEL 5.61 Decreased By ▼ -0.36 (-6.03%)
KOSM 7.27 Decreased By ▼ -0.59 (-7.51%)
MLCF 45.59 Decreased By ▼ -1.69 (-3.57%)
NBP 66.38 Decreased By ▼ -7.38 (-10.01%)
OGDC 220.76 Decreased By ▼ -1.90 (-0.85%)
PAEL 38.48 Increased By ▲ 0.37 (0.97%)
PIBTL 8.91 Decreased By ▼ -0.36 (-3.88%)
PPL 197.88 Decreased By ▼ -7.97 (-3.87%)
PRL 39.03 Decreased By ▼ -0.82 (-2.06%)
PTC 25.47 Decreased By ▼ -1.15 (-4.32%)
SEARL 103.05 Decreased By ▼ -7.19 (-6.52%)
TELE 9.02 Decreased By ▼ -0.21 (-2.28%)
TOMCL 36.41 Decreased By ▼ -1.80 (-4.71%)
TPLP 13.75 Decreased By ▼ -0.02 (-0.15%)
TREET 25.12 Decreased By ▼ -1.33 (-5.03%)
TRG 58.04 Decreased By ▼ -2.50 (-4.13%)
UNITY 33.67 Decreased By ▼ -0.47 (-1.38%)
WTL 1.71 Decreased By ▼ -0.17 (-9.04%)
BR100 11,890 Decreased By -408.8 (-3.32%)
BR30 37,357 Decreased By -1520.9 (-3.91%)
KSE100 111,070 Decreased By -3790.4 (-3.3%)
KSE30 34,909 Decreased By -1287 (-3.56%)

LONDON: London’s FTSE 100 fell on Thursday, dragged down by miners on concerns about rising bond yields and volatility in US markets, while insurer Aviva rose after selling its remaining businesses in Italy.

The blue-chip FTSE 100 index slid 0.7%, with mining stocks, including Rio Tinto, Anglo American and BHP, leading declines.

Resurgent worries about rising US 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.

The FTSE 100 has recovered more than 35% from a coronavirus-driven crash last year, but the possibility of rising inflation and higher bond yields has rattled sentiment.

The domestically focused mid-cap FTSE 250 index fell 0.4%.

Ladbrokes owner Entain fell 2.1%, as it withheld declaring a dividend. It was expecting online volumes to ease when shops re-open after a surge during lockdowns.

Insurer Aviva rose 3.0%, to the top of blue-chip index after selling its remaining businesses in Italy, as it tries to focus on its key markets of Britain, Canada and Ireland.

Homebuilder Vistry Group rose 2.3%, after an upbeat forecast and resumption of dividend.

“We don’t think Rise in yields necessarily are bad for equity markets as long as they reflect expectation of very strong growth and so they are driven by inflation compensation rather than rising really,” said Simona Gambarini, markets economist at Capital Economics.

She added that though there are some expectations of tightening in bond market pricing which might be weighing on the stock market, those expectations will not be realized and, therefore, the stock market will start gaining again.—Reuters

Comments

Comments are closed.