FTSE 100 Down 2.3% On Widespread Selling
(RTTNews) - The U.K. stock market's benchmark index FTSE 100 fell to a four-week low Friday morning as a sell-off in global equity markets rendered the mood bearish right from the start.
Uncertainty about the potential economic impact of the Democrats' sweeping win in the US midterm elections contributed to the reduced risk appetite in global markets.
The FTSE 100 was down 245.86 points or 2.28% at 10,536.80 a few minutes before noon.
BT Group shed about 5%. Airtel Africa, Relx, WPP, Experian and AstraZeneca lost 4.1%-4.7%. Next, The Sage Group, British American Tobacco, LSEG, Marks & Spencer, National Grid, Associated British Foods, Vodafone Group, Pearson, Smith & Nephew, Imperial Brands, Burberry Group, GSK, Reckitt Benckiser, Haleon and Aviva lost 3%-4%.
Unilever, Bunzl, Aberdeen Group, Hiscox, Tesco, Informa, ICG, Coca-Cola European Pacific Partners, Diageo, Shell, BP and BAE Systems also declined sharply.
Metlen Energy & Metals moved up 1.5%. Scottish Mortgage, Fresnillo, Endeavour Mining and Weir posted modest gains.
In economic news, UK house prices declined for the third straight month in October, marking their quickest in three years. House prices dropped 1.2% on an annual basis in October, faster than the 0.1% slight decrease in September. Weaker housing demand was due to renewed inflationary pressures, driven in part by the conflict in the Middle East. On a monthly basis, house prices dropped 0.6%.
Pound Falls As European Shares Traded Lower
CAC 40 Down Sharply On Weak Global Cues
Indian Shares Extend Rally For Seventh Day
German Stocks Tumble; DAX Down 1.73%
Gold Set For Biggest Weekly Gain Since August On Oil Slide
Oil Prices Decline In Choppy Trade
European Shares Slide As AI Spending Worries Mount
