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June 17, 2021, 7:04 a.m. EDT

Miners fall but banks rise in London after Fed decision

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By Steve Goldstein

U.K. stocks on Thursday saw a mixed reaction to the surprisingly hawkish tone from the U.S. Federal Reserve.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +1.12% fell 0.6%, after the Fed’s summary of economic projections showed two interest rate increases in 2023 and the central bank said that it has begun discussing when to slow down the rate of bond purchases.

With metals prices reacting to the rise in bond yields — gold futures /zigman2/quotes/210034565/delayed GC00 -0.16% fell $63 an ounce — shares of metals producers including Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO -0.15% and Anglo American /zigman2/quotes/201381512/delayed UK:AAL +0.14% fell.

But banks including HSBC Holdings /zigman2/quotes/203901799/delayed UK:HSBA -0.54% , Standard Chartered /zigman2/quotes/200125072/delayed UK:STAN -0.24% and Barclays /zigman2/quotes/208409333/delayed UK:BARC +0.06% advanced on the news. Bank shares tend to rise when bond yields increase, as investors hope for improving margins.

Premier Inn operator Whitbread /zigman2/quotes/207954631/delayed UK:WTB +1.91% rose 3%, after reiterating its outlook for the year, following a fiscal first quarter in which like-for-like sales were 71% below two years ago.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,980.98
+77.07 +1.12%
Volume: 740,298
Sept. 21, 2021 4:58p
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/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,775.30
-2.90 -0.16%
Volume: 947.00
Sept. 21, 2021 7:09p
loading...
/zigman2/quotes/208934945/delayed
UK : U.K.: London
4,707.00 p
-7.00 -0.15%
Volume: 3.47M
Sept. 21, 2021 4:35p
P/E Ratio
5.55
Dividend Yield
13.30%
Market Cap
£77.53 billion
Rev. per Employee
£732,787
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/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,474.00 p
+3.50 +0.14%
Volume: 5.96M
Sept. 21, 2021 4:35p
P/E Ratio
6.24
Dividend Yield
7.10%
Market Cap
£30.47 billion
Rev. per Employee
£253,662
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/zigman2/quotes/203901799/delayed
UK : U.K.: London
359.75 p
-1.95 -0.54%
Volume: 23.07M
Sept. 21, 2021 4:35p
P/E Ratio
10.89
Dividend Yield
4.47%
Market Cap
£73.88 billion
Rev. per Employee
£257,711
loading...
/zigman2/quotes/200125072/delayed
UK : U.K.: London
410.00 p
-1.00 -0.24%
Volume: 5.86M
Sept. 21, 2021 4:35p
P/E Ratio
15.19
Dividend Yield
2.14%
Market Cap
£12.65 billion
Rev. per Employee
£194,812
loading...
/zigman2/quotes/208409333/delayed
UK : U.K.: London
175.02 p
+0.10 +0.06%
Volume: 38.55M
Sept. 21, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
1.71%
Market Cap
£29.48 billion
Rev. per Employee
£332,602
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/zigman2/quotes/207954631/delayed
UK : U.K.: London
3,313.00 p
+62.00 +1.91%
Volume: 306,717
Sept. 21, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£6.55 billion
Rev. per Employee
£20,742
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