FTSE 100 Weak Again, Looks Headed For Weekly Loss
(RTTNews) - U.K. stocks are trading lower on Friday, losing ground for a fourth straight session, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
Also, the mood remains cautious as investors await key U.S. PCE reading due later in the day, for clues about Federal Reserve's possible moves in September.
The benchmark FTSE 100 was down 28.60 points or 0.31% at 9,188.22 at noon.
Natwest Group is down nearly 5%, Lloyds Banking Group is down 4.6% ad Barclays is lower by about 3.7%. HSBC Holdings is down nearly 1%, while Standard Chartered is marginally down.
JD Sports Fashion is down 2.5%, due largely on profit taking. St. James's Place, Kingfisher, Legal & General, IAG, Whitbread, EasyJet, Schroders and Relx are lower by 1 to 2.2%.
Rentokil Initial is gaining 3%. Prudential is up 2.1% and Convatec Group is rising 1.8%. Rolls-Royce Holding, Airtel Africa, British American Tobacco, Imperial Brands, Bunz, BP and Haleon are up by 1 to 1.5%.
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