Economic news

Energy Stocks Drag FTSE 100 Lower Ahead of Jackson Hole

* FTSE 100 down 0.2%, FTSE 250 flat

Aug 26 (Reuters) - The FTSE 100 slipped on Wednesday, weighed by a sell-off in stocks ranging from energy to consumer staples and financials, while investor attention turned to an annual central bankers’ conference later in the week.

The commodity-heavy FTSE 100 was down 0.2%, with BP Plc, Royal Dutch Shell Plc, British American Tobacco Plc and HSBC Holdings Plc among the top drags.

The benchmark index has struggled to build on a strong start to the week as signs of a sluggish economic rebound overshadowed optimism around COVID-19 vaccines and U.S.-China trade. All eyes are now on U.S. Federal Reserve Chair Jerome Powell’s address at the virtual Jackson Hole Symposium on Thursday.

Doorstep lender Provident Financial jumped 8.3% even as it sank to a loss in the first half of 2020 and suspended its interim dividend. Its shares have more than halved in value this year.

The mid-cap FTSE 250 was flat in early trading.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu)

Source: Reuters


To leave a comment you must or Join us


More news


Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree