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Miners drag UK'S FTSE 100 lower after hawkish ECB; GSK rises

Miners drag UK'S FTSE 100 lower after hawkish ECB; GSK rises

reuters.com · 06/10/2022 03:29
Miners drag UK'S FTSE 100 lower after hawkish ECB; GSK rises

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FTSE 100 down 0.8%, FTSE 250 off 0.6%

- UK's top stock index extended losses on Friday, with declines led by miners after some parts of Shanghai announced fresh COVID-19 curbs, while GSK rose as its respiratory vaccine succeeded in a late-stage trial for older adults.

The blue-chip FTSE 100 index .FTSE was down 0.8% by 0715 GMT, while the domestically oriented FTSE 250 index .FTMC declined 0.6%. The indexes eyed weekly losses of 1.5% and 1.6%, respectively.

Miners .FTNMX501010 were down 1.7% as copper and industrial metals fell after renewed COVID-19 restrictions in top consumer China rekindled demand worries. MET/L

The ECB said on Thursday it would deliver its first interest-rate hike since 2011 next month, followed by a potentially larger move in September. nL1N2XW0AB

Investors' focus is now on the highly anticipated U.S. inflation data due later in the day, which could guide the Federal Reserve's tightening path in the months to come. The Fed will also be holding a key rate-setting meeting next week.

GSK GSK.L boosted healthcare stocks .FTNMX201030 with a rise of 2.4% after the drugmaker said its vaccine for respiratory syncytial virus was successful in a late-stage trial involving adults aged 60 years and older. nL1N2XX0A3


(Reporting by Anisha Sircar in Bengaluru; editing by Uttaresh.V)

((Anisha.Sircar@thomsonreuters.com;))

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