U.K. stocks drifted lower on Friday amid profit taking after rising sharply in the last three trading sessions.
The benchmark FTSE 100 dipped 22 points, or 0.3 percent, to 6,920 after climbing 0.8 percent on Thursday to reach a 13-month high on optimism over easing lockdown restrictions in Britain.
British American Tobacco shares fell 2.4 percent after J.P. Morgan downgraded the stock to “neutral” from “overweight”.
On the other hand, sportswear retailer JD Sports Fashion jumped 2.7 percent after Berenberg raised its price target on the stock.
TUI AG shares plunged 6 percent. The travel agency has launched an offering of senior unsecured bonds convertible due 2028 in an aggregate principal amount of approximately 350 million euros with the option to increase the issuance volume to 400 million euros.
PageGroup, a specialist professional recruitment company, soared 10 percent after it reported a 2 percent increase in first-quarter profit.
FTSE 100 Slides On Profit Taking
2021-04-09 09:26:21
