- FTSE 100 down 49 points
- London-listed firm raise most money in a decade
- agrees to £2.3bn private bid
9am: FTSE 100 opens in the red
FTSE 100 opened lower after the US suffered large losses on Thursday as higher inflation concerns have triggered a rise in government bond yields.
London’s leading index dropped 49 points to 6,601 in early trading.
“After Fed chair Jay Powell’s comments last night, that the Fed was focussed on its dual mandate of unemployment and inflation, and that the central bank was a long way from meeting either, would under normal circumstances, have been enough to assuage market concerns about a premature tightening of policy,” commented Michael Hewson at CMC Markets.
“By not specifically referencing or expressing concern over the recent move higher in longer term US yields, and looking to hold the markets hand, it was perhaps not surprising that the bond sell-off continued, however whether the sell-off is sustained is a different matter entirely.”
The weakness in the tech sector is also acting as a drag on (), which shed 5% to 1,034.06p, considering its relatively heavy weighting towards that sector. Its top holdings include Tesla, Amazon and Alibaba.
In UK company news, London Stock Exchange PLC () said listed firms raised the most money in more than a decade over the past year as they battled the impact of coronavirus.
The Exchange dropped 5% after admitting it is facing increasing competition from Europe, after…
