Fears over global growth led U.K. stocks lower on Thursday, with the mining sector leading the way lower. Anglo American AAL, -4.51 percent, Glencore GLEN, -3.98 percent, and Ferrexpo FXPO, -3.31 percent all fell by at least 3.5 percent on the FTSE 100 UKX, -1.89 percent. The Dow Jones Industrial Average YM00, -1.40 percent’s futures dropped more than 500 points. Barclays BARC, -3.55 percent, was among the banks that suffered losses.
The reduction coincided with a global drop in bond yields. The 10-year Treasury yield TMUBMUSD10Y, 1.279 percent, dipped to 1.25 percent, while the 10-year U.K. gilt yield TMBMKGB-10Y, 0.566 percent, slipped to 0.56 percent. It was the first chance for international investors to react to the new minutes from the Federal Open Market Committee in the United States, which revealed a split on whether to reduce the rate of bond purchases. The threat of coronavirus spreading due to the new delta strain was also a concern, prompting Tokyo to declare a state of emergency that will remain until the end of the Olympic games. The operator of Ladbrokes and PartyPoker, Entain ENT, +0.03 percent, was one of the few equities to rise, increasing 0.3 percent after declaring full-year results that will beat expectations and an investment in unique content. In the second quarter, total net gaming revenue increased by 42%./n
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