UK stocks fall as lack of progress in US — Iran talks lifts oil prices
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Sept 24 (Reuters) — London shares fell on Thursday as crude oil prices continued to rise amid little progress towards a US-Iran deal, fuelling inflation concerns and lifting government bond yields. The blue-chip FTSE 100 index fell 0.05% to 10,700.05 points by 1007 GMT, while the midcap FTSE 250 slipped 0.60%. Oil prices extended gains after climbing 4% in the previous session as US-Iran diplomatic talks showed no concrete sign of progress. UK's energy giants rose, with BP gaining 1.9% and Shell adding 1.4%. O/R Industrial stocks were the biggest drags, with Rolls Royce and BAE Systems down 2% and 1.3% respectively. British banks dipped 1%, with heavyweights HSBC and Standard Chartered down over 1% each. Homebuilder Vistry slipped 6.3% after it lowered its annual profit expectations and said it would take a £470 million ($622.51 million) hit from its strategic overhaul. Raspberry Pi jumped 7.7% after the single-board computing company reported higher first-half revenue and pretax profit. Bond markets were in focus again as UK gilt yields rose in line with global bond yields,
, UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Sept 24 (Reuters) — London shares fell on Thursday as crude oil prices continued to rise amid little progress towards a US-Iran deal, fuelling inflation concerns and lifting government bond yields. 60%. Oil prices extended gains after climbing 4% in the previous session as US-Iran diplomatic talks showed no concrete sign of progress. 4%.
3% respectively. British banks dipped 1%, with heavyweights HSBC and Standard Chartered down over 1% each. 51 million) hit from its strategic overhaul. 7% after the single-board computing company reported higher first-half revenue and pretax profit.
38%. British finance minister John Healey may accept a smaller fiscal buffer to reduce tax rises in next month's budget as investors signalled the gilt market would not be spooked by a more modest headroom target, the Financial Times reported. Bank of England Deputy Governor Clare Lombardelli said that interest rates will likely have to rise if energy prices stay elevated, barring clear evidence of a weaker economy. Traders are fully pricing in at-least one 25-basis-point hike by the BoE this year, according to data compiled.
Investors are also focused on the Trump-Xi summit, seen as largely symbolic despite efforts to project stability between both sides amid deep rivalry. 3% and 3% respectively, as their shares traded ex-dividend. com)