The FTSE has reached a three-week minimum as investors stock banks, mining stocks



Josephine Mason

UK stocks fell to a three-week low as investors discarded financial and mining stocks in the context of renewed concerns from Brexit and Greece's budget with Brussels, and selling over Asia and Wall Street in technology events knocked confidence.

<p class = "canvas-atom canvas-text Mb (1.0e) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The FTSE 100 <.FTSE> was down 0.5 percent at 1030 GMT, on track for its third straight daily loss, with sentiment also knocked out by heavy losses in the euro zone after a report Apple has cut production triggered and global routing in tech stock. "> FTSE 100 <.FTSE> declined by 0.5 percent to 1030 GMT, on the way to its third day loss, with a mood also knocked out by heavy losses in the eurozone after the Apple report reduced production triggered a global breakthrough in technology events.

While the political chaos of last week has calmed down, investors were once again afraid that British Prime Minister Tereza Maya will reach its Brexit draft agreement in Brussels and at home, with banks having a major sales edge.

<p class = "canvas-atom canvas-text Mb (1.0e) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "News from mid-cap lender CYBG that the Clydesdale and Yorkshire Bank owner has begun taking contingency measures to handle the uncertainties of the country's exit from the European Union, reinforced those concerns. "data-reacttid =" 26 "> News from the medium-term creditor CYBG that the owner of Clydesdale and Yorkshire Bank has begun to take emergency measures to resolve the uncertainties of leaving the country from the European Union has reinforced these concerns.

"Brexit's uncertainty is a short answer," said David Madden, market analyst at CMC Markets UK. "This is the case when we get cash."

<p class = "canvas-atom canvas-text Mb (1.0e) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = <.FTNMX8350> and insurers <.FTNMX8570>, each down 1.8 percent, notched up the biggest declines, with mining companies dropping 1.6 percent as fresh concerns about mounting tensions between China and the United States are weighed on metal prices "data-reactid =" 28 "> Banks <.FTNMX8350> and insurance companies <.FTNMX8570>, each dropping 1.8 percent, which was the biggest decline, with mining companies down 1.6 percent, as new concerns about growing tensions between China and the United States have weighted metal prices.

<p class = "canvas-atom canvas-text Mb (1.0e) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = to close, Compass Group and Halma were in demand, rising 3.1 percent and 3.8 percent respectively, as investors cheered cost-cutting efforts. "Data-reactid =" 29 "> Compass Group is among the few corporate profits at the end of the season and Halma were in demand, rising by 3.1 percent and 3.8 percent, as investors sought to cut costs.

"With job inflation, which is currently a major problem across the region, we think investors can breathe relief with" in-line "results and a positive commentary on top and bottom outlook," said Barclays's Compass analysts.

Spectris, a Electrical Engineering company at the FTSE 250, jumped 10 percent.

<p class = "canvas-atom canvas-text Mb (1.0e) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Elsewhere, dealmaking was in the news with BTG soaring a third and hitting its highest in more than three years after the US medical device maker Boston Scientific agreed to pay 3.3 billion pounds ($ 4.25 billion) in cash to buy the company. "data-reactid =" 32 "> The agreement was concluded with BTG rose third and suffered the highest value in more than three years after the US manufacturer of Boston Scientific Medical Appliances agreed to pay 3.3 billion pounds (4.25 billion dollars) for the company's purchase.

The purchase price was 36.6% on Monday compared to BTG's closing stake.

<p class = "canvas-atom canvas-text Mb (1.0e) Mb (0) – sm Mt (0.8em) more than a third of its market cap and hit its lowest level in nearly eight years after the IT and communications company issued a profit warning. "Data-reactid =" 34 "> Among the beaten ones are a small KCOM cap lost more than a third of its market limit and reached its lowest level almost eight years after IT and the communications company issued a profit warning.

(Reporting by Josephine Mason, edited by Larry King)


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