FTSE 100 Down Nearly 0.5%
(RTTNews) - The U.K. market is down in negative territory a little before noon on Friday, weighed down by concerns about economic slowdown, and news about a fire near Heathrow that forced the airport to shut down for the day.
Weak public finance data also weigh on sentiment.
The benchmark FTSE 100, which dropped to 8,621.78 in early trades, is down 41.16 points or 0.47% at 8,660.83 about a quarter before noon.
JD Sports Fashion is down 4.4%. Croda International, Antofagasta, Intercontinental Hotels Group, Barclays Group, Glencore and Entain are down 2 to 4%.
Mondi, Spirax Group, Anglo American Plc, Howden Joinery, Rio Tinto, Experian, Lloyds Banking Group, Whitbread, Barratt Redrow and Auto Trader Group are down 1.3 to 2%.
Airlines stocks IAG and EasyJet dropped sharply in early trades. However, IAG has now moved higher, and EasyJet is down just marginally.
Melrose Industries is climbing up nearly 3%. Vodafone Group, 3i Group, Rentokil Initial and Hiscox are up 1 to 1.8%.
Data from the Office for Statistics showed public sector net borrowing rose to GBP 10.7 billion from GBP 10.6 billion in the previous year. Economists had forecast the borrowing to drop to GBP 7.0 billion.
This was the fourth biggest February borrowing since monthly records began in 1993 and also exceeded the GBP 6.5 billion estimated by the Office for Budget Responsibility.
Expenditure grew GBP 3.8 billion to GBP 93.0 billion in February. At the same time, receipts advanced GBP 3.2 billion to GBP 87.7 billion.
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