London's FTSE 100 drops as financial, mining stocks weigh

FILE PHOTO: A broker looks at financial information on computer screens on the IG Index trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson

(Reuters) – London’s FTSE 100 fell on Thursday, dragged down by heavyweight financials and miners, as investors weighed risks associated with rising global COVID-19 infections and supply chain disruptions.

The blue-chip FTSE 100 index fell 0.7% after four straight sessions of gains, with HSBC Holdings, Aviva, Rio Tinto and BHP Group being the top drags.

The domestically focussed mid-cap index eased 0.4% after hitting record highs in the previous session, with travel shares leading the declines.

Global stocks eased as investors reduced their risk exposure ahead of the Federal Reserve’s Jackson Hole symposium on Friday and what central bank chairman Jerome Powell might say about U.S. tapering monetary stimulus. [MKTS/GLOB]

Recruitment agency Hays Plc added 0.6% after it forecast a “dramatic” recovery in the jobs market and said it would resume dividends.

Greggs Plc eased 0.3% after the U.K. bakery and fast food chain became the latest food business to be hit by supply chain interruptions. Retail stocks were down 0.8%.

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