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Feb. 17, 2022, 10:21 a.m. EST

London’s main stock index under pressure pressured as commodity prices fall

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By Barbara Kollmeyer

London’s equity bourse was under pressure on Thursday as investors monitored geopolitical headlines and shares of companies tied to commodities fell. A surging British pound also weighed on multinational companies.

The FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX +0.89% dropped 1.2% to 7,515, and the British pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.1239% climbed 0.3% to $1.3635. A stronger pound can impact the main index by weighing on blue chips that derive revenue from overseas.

Both Brent and U.S. benchmark West Texas Intermediate /zigman2/quotes/209723049/delayed CL00 +1.54% crude prices fell 2% as investors balanced reports of progress toward a nuclear agreement with Iran against fears of a Russian invasion of Ukraine. Shell stock /zigman2/quotes/206428183/delayed UK:SHEL +3.87% /zigman2/quotes/206428183/delayed UK:SHEL +3.87% was down nearly 1%.

Stocks in London were also tracking early losses on Wall Street that came amid increased concerns over a conflict breaking out on European soil due to the Russia-Ukraine tensions.

Read: Blinken to speak at U.N. Security Council on Russia’s ‘threat to peace,’ says State Department

And: Here’s the technology being used to watch Russian troops as Ukraine invasion fears linger

Among the bright spots, shares of Reckitt Benckiser /zigman2/quotes/206856088/delayed UK:RKT +0.06% climbed 5% to the top of the gainer’s list after the consumer-goods group gave upbeat margin guidance , and revenue on a same store basis beat expectations. The company also swung to a pretax loss for 2021.

Elsewhere, luxury goods retailer Burberry /zigman2/quotes/205386705/delayed UK:BRBY +0.40% got a 1.6% lift after positive results from French luxury conglomerate Kering /zigman2/quotes/204653408/delayed FR:KER +0.65% .

Banks and the metals sector were also adding to downward pressure in London, with HSBC /zigman2/quotes/208272822/composite HSBC +0.03% /zigman2/quotes/203901799/delayed UK:HSBA +0.99% dropping 1% after rival Standard Chartered /zigman2/quotes/200125072/delayed UK:STAN +1.73% reported profits that fell short of expectations.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,232.65
+64.00 +0.89%
Volume: 397,874
July 4, 2022 4:57p
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/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2118
+0.0015 +0.1239%
Volume: 0.0000
July 4, 2022 8:12p
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 110.10
+1.67 +1.54%
Volume: 103,633
July 4, 2022 8:02p
loading...
/zigman2/quotes/206428183/delayed
UK : U.K.: London
£ 2,203.00
+82.00 +3.87%
Volume: 9.95M
July 4, 2022 4:35p
P/E Ratio
10.69
Dividend Yield
0.04%
Market Cap
£155.63 billion
Rev. per Employee
£2.59M
loading...
/zigman2/quotes/206428183/delayed
UK : U.K.: London
£ 2,203.00
+82.00 +3.87%
Volume: 9.95M
July 4, 2022 4:35p
P/E Ratio
10.69
Dividend Yield
0.04%
Market Cap
£155.63 billion
Rev. per Employee
£2.59M
loading...
/zigman2/quotes/206856088/delayed
UK : U.K.: London
6,232.00 p
+4.00 +0.06%
Volume: 314,243
July 4, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
2.80%
Market Cap
£44.56 billion
Rev. per Employee
£253,026
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/zigman2/quotes/205386705/delayed
UK : U.K.: London
1,638.50 p
+6.50 +0.40%
Volume: 644,969
July 4, 2022 4:35p
P/E Ratio
16.76
Dividend Yield
2.87%
Market Cap
£6.51 billion
Rev. per Employee
£294,191
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/zigman2/quotes/204653408/delayed
FR : France: Euronext Paris
490.40
+3.15 +0.65%
Volume: 142,666
July 4, 2022 5:37p
P/E Ratio
19.24
Dividend Yield
2.45%
Market Cap
€60.61 billion
Rev. per Employee
€412,165
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/zigman2/quotes/208272822/composite
US : U.S.: NYSE
$ 32.68
+0.01 +0.03%
Volume: 2.41M
July 1, 2022 4:00p
P/E Ratio
11.60
Dividend Yield
3.79%
Market Cap
$128.61 billion
Rev. per Employee
$273,805
loading...
/zigman2/quotes/203901799/delayed
UK : U.K.: London
539.70 p
+5.30 +0.99%
Volume: 8.30M
July 4, 2022 4:35p
P/E Ratio
13.12
Dividend Yield
3.82%
Market Cap
£107.13 billion
Rev. per Employee
£200,552
loading...
/zigman2/quotes/200125072/delayed
UK : U.K.: London
623.60 p
+10.60 +1.73%
Volume: 3.93M
July 4, 2022 4:35p
P/E Ratio
14.39
Dividend Yield
1.46%
Market Cap
£18.19 billion
Rev. per Employee
£167,448
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