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July 8, 2021, 6:55 a.m. EDT

U.K. stocks skid on growth fears with miners falling sharply

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By Steve Goldstein

Global growth fears sent U.K. stocks lower on Thursday with the mining sector retreating sharply.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.36% dropped 1.8%, with miners including Anglo American /zigman2/quotes/201381512/delayed UK:AAL -0.64% , Glencore /zigman2/quotes/201400686/delayed UK:GLEN +0.71% and Ferrexpo /zigman2/quotes/208342608/delayed UK:FXPO -0.82% sliding by at least 3.5%. Futures on the Dow Jones Industrial Average /zigman2/quotes/210407078/delayed YM00 +0.29% fell over 500 points.

Banks including Barclays /zigman2/quotes/208409333/delayed UK:BARC +1.74% also slumped.

The drop came as bond yields slumped globally. The yield on the U.S. 10-year Treasury /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +2.67% fell to 1.25%, and the yield on the 10-year U.K. gilt /zigman2/quotes/211347177/realtime BX:TMBMKGB-10Y +4.14% fell to 0.56%.

It was the first opportunity for overseas investors to react to the latest minutes coming from the U.S. Federal Open Market Committee, which showed division on the timing for reducing the rate of bond purchases.

The spread of coronavirus due to the new delta strain was also a worry, with Tokyo put in a state of emergency that will last the duration of the Olympic games.

Entain /zigman2/quotes/207493593/delayed UK:ENT -1.31% , the operator of Ladbrokes and PartyPoker, was one of the few stocks rising, adding 0.3% after saying full-year earnings will top consensus expectations and announcing investment in exclusive content. Total net gaming revenue surged 42% in the second quarter.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,076.62
+25.14 +0.36%
Volume: 203,080
Sept. 27, 2021 10:53a
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/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,581.50 p
-16.50 -0.64%
Volume: 1.09M
Sept. 27, 2021 10:53a
P/E Ratio
6.51
Dividend Yield
6.80%
Market Cap
£31.98 billion
Rev. per Employee
£253,662
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/zigman2/quotes/201400686/delayed
UK : U.K.: London
332.85 p
+2.35 +0.71%
Volume: 6.60M
Sept. 27, 2021 10:53a
P/E Ratio
30.45
Dividend Yield
2.64%
Market Cap
£43.58 billion
Rev. per Employee
£765,499
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/zigman2/quotes/208342608/delayed
UK : U.K.: London
315.00 p
-2.60 -0.82%
Volume: 255,117
Sept. 27, 2021 10:52a
P/E Ratio
2.40
Dividend Yield
12.08%
Market Cap
£1.79 billion
Rev. per Employee
N/A
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 34,773.00
+99.00 +0.29%
Volume: 26,141
Sept. 27, 2021 4:58a
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/zigman2/quotes/208409333/delayed
UK : U.K.: London
186.94 p
+3.20 +1.74%
Volume: 11.31M
Sept. 27, 2021 10:53a
P/E Ratio
N/A
Dividend Yield
1.60%
Market Cap
£30.94 billion
Rev. per Employee
£332,602
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.49
+0.04 +2.67%
Volume: 0.00
Sept. 27, 2021 6:08a
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/zigman2/quotes/211347177/realtime
add Add to watchlist BX:TMBMKGB-10Y
BX : Tullett Prebon
0.87
+0.03 +4.14%
Volume: 0.00
Sept. 27, 2021 11:07a
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/zigman2/quotes/207493593/delayed
UK : U.K.: London
£ 2,181.00
-29.00 -1.31%
Volume: 341,141
Sept. 27, 2021 10:48a
P/E Ratio
93.28
Dividend Yield
N/A
Market Cap
£12.94 billion
Rev. per Employee
£151,088
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