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    UKX   GB0001383545

FTSE 100

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Miners weigh London's FTSE 100 down; travel stocks jump

09/17/2021 | 11:44am EDT
FILE PHOTO: The London Stock Exchange offices in the City of London, Britain

(Reuters) -London's FTSE 100 ended lower on Friday, weighed by a slump in mining stocks, while British retail sales fell unexpectedly in August, adding to concerns about economic recovery.

After rising as much as 0.9%, the blue-chip FTSE 100 index ended 1.2% lower, and marked its third consecutive week in red. The domestically focused mid-cap FTSE 250 index eased 0.2%.

Leading declines were base metal miners including Anglo American, Rio Tinto, BHP Group and Glencore down between 2.6% and 8.2%, tracking weakness in iron ore. [METL/]

"I think the market is starting to get to grips with what potential contagion there is involved with how something like Evergrande going down would ripple around the world in terms of demand for things like iron ore," said Keith Temperton, sales trader at Forte Securities.

British retail sales dropped 0.9% on the month in August versus a Reuters poll for a rise of 0.5%, after data earlier this week pointed towards a sharp recovery in the jobs market and a spike in inflation.

Investor focus will now be on the outcome of Bank of England's (BoE) policy meeting next week.

"Next week's policy decision should reaffirm that some tightening will be needed over the next few years to keep inflation (and the economy) in check. But we don't expect the BoE to conclude that there is a sufficient case yet for near-term rate hikes," Deutsche Bank economist Sanjay Raja said.

The FTSE 100 and the FTSE 250 indexes have declined about 1.2% and 0.6% this week, as a better-than-expected labour market recovery and rising price pressures have fuelled concerns of an early tapering of stimulus measures by the Bank of England.

Airlines Wizz Air, Easyjet and British Airways owner IAG, and holiday company TUI AG rose between 2.2% and 5.7%, as Britain was set to consider easing its COVID-19 rules for international travel.

Wickes Group jumped 3.3% to the top of FTSE 250 index after Deutsche upgraded the DIY retailer to "buy" from "hold".

(Reporting by Devik Jain and Amal S in Bengaluru; Editing by Uttaresh.V, Shounak Dasgupta and David Gregorio)

By Devik Jain and Amal S


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) -0.56% 0.5392 Delayed Quote.-3.55%
BHP GROUP 2.80% 38.86 End-of-day quote.-8.41%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.53% 0.588049 Delayed Quote.2.75%
EURO / BRITISH POUND (EUR/GBP) -0.50% 0.84366 Delayed Quote.-5.08%
FTSE 100 0.37% 7234.03 Delayed Quote.11.97%
INDIAN RUPEE / BRITISH POUND (INR/GBP) -0.62% 0.009694 Delayed Quote.-2.65%
RIPPLE (XRP/BTC) 0.00% 1.9E-5 Real-time Quote.137.50%
RIPPLE (XRP/EUR) -0.86% 0.97053 Real-time Quote.449.67%
RIPPLE (XRP/USD) -0.84% 1.1287 Real-time Quote.421.84%
TUI AG -0.96% 3.11 Delayed Quote.21.43%
US DOLLAR / BRITISH POUND (USD/GBP) -0.59% 0.727326 Delayed Quote.0.05%
WICKES GROUP PLC 0.77% 236.8 Delayed Quote.0.00%
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Chart FTSE 100
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FTSE 100 Technical Analysis Chart | UKX | GB0001383545 | MarketScreener
Technical analysis trends FTSE 100
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Top / Flop FTSE 100
JUST EAT TAKEAWAY.COM N.V. 69.67 Real-time Quote.6.68%
OCADO GROUP PLC 1797.5 Delayed Quote.3.78%
EVRAZ PLC 617.4 Delayed Quote.3.76%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 182.92 Delayed Quote.3.25%
INTERCONTINENTAL HOTELS GROUP PLC 5098 Delayed Quote.2.58%
DS SMITH PLC 378.7 Delayed Quote.-2.27%
SMURFIT KAPPA GROUP PLC 44.49 Real-time Quote.-2.37%
SEVERN TRENT PLC 2604 Delayed Quote.-2.65%
INFORMA PLC 547.2 Delayed Quote.-2.70%
PEARSON PLC 620.4 Delayed Quote.-14.90%
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