U.K. stocks fell on Thursday in cautious trade after Federal Reserve officials projected hikes in interest rates by 2023, a year earlier than expected amid the vaccine rollout.
The benchmark FTSE 100 dropped 35 points, or half a percent, to 7,150 after ending 0.2 percent higher on Wednesday.
Miners Anglo American, Antofagasta and Glencore fell 2-3 percent as China stepped up its campaign to rein in commodity prices.
Banks gained ground as the Fed’s hawkish comments sent bond yields sharply higher. Standard Chartered surged 3 percent, HSBC Holdings advanced 2.7 percent and Lloyds Banking rose 2 percent.
Travel stocks were also moving higher after reports that Britain may allow those who are double vaccinated against Covid-19 to enjoy a foreign holiday without intrusive red tape.
British Airlines-owner IAG jumped 3.4 percent, Ryanair Holdings rallied 3.5 percent and easyJet soared 4.3 percent.
FTSE 100 Drops After Fed Rate Talk
2021-06-17 09:38:32
