FTSE 100 Declines On Interest-rate Concerns
(RTTNews) - U.K. stocks fell notably on Thursday as housebuilders suffered heavy losses on interest-rate concerns, more than offsetting gains in the energy sector.
The benchmark FTSE 100 was down 63 points, or 0.8 percent, at 7,530 after losing 0.4 percent the previous day.
Housebuilder Taylor Wimpey fell over 2 percent and Barratt Developments plummeted 6.5 percent on concerns over rising borrowing costs.
BP Plc and Shell were seeing modest gains after crude prices surged to the highest level in more than a year.
Drinks giant Diageo was down 0.7 percent despite backing its annual outlook.
888 Holdings, a betting and gaming company, plunged 17 percent after trimming its full-year earnings guidance.
Lender HSBC Holdings edged down slightly after reports that it is likely to buy Citigroup's China consumer wealth management business. Insurer Phoenix Group Holdings lost 6.2 percent after reporting a narrow pre-tax loss for the first-half of 2023.
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