UK shares fall as higher bond yields weigh

  • Reuters
  • Stock Market News
UK shares fall as higher bond yields weigh
Credit: © Reuters.

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* FTSE 100 down 0.7%, FTSE 250 off 0.7%

March 5 (Reuters) - London's FTSE 100 fell on Friday, as a persistent rise in bond yields globally led to fears of higher inflation and borrowing costs, while energy stocks rose on higher crude oil prices.

The blue-chip FTSE 100 index .FTSE fell 0.7%, with banking and mining stocks, including Prudential Plc PRU.L , Lloyds banking LLOY.L , Rio Tinto RIO.L , Anglo American (JO: AMSJ ) AAL.L , and BHP BHPB.L , leading declines.

Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L , however, gained 0.7% and 0.4%, respectively, as oil prices climbed after OPEC and its allies agreed to extend output cuts to April. O/R

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. MKTS/GLOB

The UK domestically focused mid-cap FTSE 250 index .FTMC fell 0.7%, dragged down by consumer discretionary and financial stocks.

Equipment rental company Aggreko AGGK.L rose 1.2%, as it backed a 2.32 billion pound ($3.22 billion) buyout offer from private equity firms TDR Capital LLP and I Squared Capital. Stock Exchange Group LSEG.L fell 4.4%, even after announcing a 7% dividend increase as integration of its $27 billion acquisition of data and analytics company Refinitiv stepped up a gear.

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