UPDATE 2-FTSE 100 hit by economic worries, ex-dividend trades

  • Reuters
  • Stock Market News
UPDATE 2-FTSE 100 hit by economic worries, ex-dividend trades
Credit: © Reuters.

* FTSE 100 lags S&P 500, STOXX 600 YTD

* Antofagasta drags main index after H1 profit fall

* Real estate stocks gain on defensive plays (Updates to close)

By Muvija M and Ambar Warrick

Aug 20 (Reuters) - UK shares ended lower on Thursday after the U.S. Federal Reserve struck a cautious note over the U.S. economic recovery, while several big companies going ex-dividend added to pressure on the bluechip index.

The FTSE 100 .FTSE ended down 1.6%, with insurer Prudential PRU.L and miner Anglo American AAL.L among those trading ex-dividend. The midcap index .FTMC fell 0.5%.

Minutes from the Fed's July 28-29 policy meeting warned of a highly uncertain path for recovery from the global health crisis that has hammered economic growth across the world. minutes are casting a shadow over markets and underline that any recovery is not going to be a straight line of advances," Markets.com analyst Neil Wilson said.

U.S. stocks have hit record highs despite the worries over the economic recovery, while in Europe and Britain stock indexes are yet to recover from falls caused by fallout from the virus. The FTSE 100 is lagging its peers in Europe and in the United States.

Real estate stocks .FTNMX8670 .FTUB8600 were one of the few sectors that gained on the day, benefiting from safe-haven demand.

On corporate news-driven moves, miner Antofagasta ANTO.L fell more than 5% after reporting a plunge in half-year earnings. with Antofagasta's results, a drop in copper prices from a more than one-year high also hit miners, with Glencore GLEN.L , BHP BHPB.L and Rio Tinto RIO.L falling between 2% and 4%. MET/L

Losses in the midcap index were limited by gains in Mike Ashley's Frasers Group FRAS.L along with a number of real estate stocks.

Frasers jumped 13% after it forecast growth of up to 30% in its new financial year, while electricals maker AO World AO.L added more than 3% as it said demand for its products and services continued even after its rivals reopened stores in July. group John Laing JLG.L plummeted 7%, marking its worst day since early-July after reporting a half-year loss and saying it was unlikely to meet its 1 billion pound investment target by the end of 2021. FTSE 100, S&P 500 and STOXX 600

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