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British shares track worst day in 3 weeks on inflation concerns; NatWest slips

05/11/2021 03:29
British shares track worst day in 3 weeks on inflation concerns; NatWest slips

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FTSE 100 down 1.8%, FTSE 250 off 1.6%

- London's FTSE 100 fell on Tuesday, in line with Asian markets, after an overnight tech sell-off on Wall Street over inflation concerns, while NatWest Group slipped as the British government cut its stake in the domestic lender.

The blue-chip index .FTSE slid 1.8%, with NatWest NWG.L tumbling 3.3% after the UK government completed the sale of 1.1 billion pounds ($1.55 billion) in its shares at a discounted price. nL8N2MY1LI

All the FTSE 100 constituents were trading in negative territory.

Banks .FTNMX301010, travel and leisure .FTNMX405010, and miners .FTNMX551020 were among the biggest losers, all down more than 2% each.

Globally, tech stocks took a brunt of the selling as investors braced for U.S. inflation data due on Wednesday while keeping a close eye on a host of Federal Reserve speakers this week to assess how authorities are likely to respond to receding risks posed by the pandemic in some major economies. MKTS/GLOB

The domestically focused mid-cap FTSE 250 index .FTMC tripped 1.6%. Both the indexes were tracking their worst daily performance in three weeks.


(Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)

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