FTSE 100 Falls Led By Banks And Miners
(RTTNews) - U.K. stocks fell sharply on Friday, as worries over turmoil in the banking sector and recession risks overshadowed upbeat retail sales and consumer confidence readings.
U.K. retailers enjoyed a stronger-than-expected month in February, while a measure of consumer confidence climbed slightly in March, separate reports showed earlier today. The benchmark FTSE 100 was down 98 points, or 1.3 percent, at 7,402 after losing 0.9 percent the previous day.
Miners and banks led losses, with Anglo American, Antofagasta, Glencore, Barclays and HSBC Holdings falling 2-3 percent.
TUI Group shares slumped 5.5 percent. The travel group launched a €1.8 billion ($2 billion) capital increase to repay pandemic state aid and strengthen its balance sheet.
Smiths Group rose over 1 percent. The industrial technology company upgraded its annual forecasts after reporting a 27 percent jump in first-half profit.
Pub group JD Wetherspoon soared 6 percent on posting turnaround results in its first half.
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