LONDON, Aug 27 ― London's FTSE 100 fell yesterday, dragged down by heavyweight mining and financial stocks, as investors weighed risks from rising global Covid-19 infections and supply chain disruptions.
The domestically focussed mid-cap index eased 0.1 per cent after scaling record highs in the previous session, with travel-related stocks leading the declines. The FTSE 100 has recovered 10.2 per cent so far this year, supported by easing Covid-related restrictions and dovish central bank policies. The index had slumped 14 per cent last year amid the pandemic.
Global stocks eased as investors reduced their risk exposure ahead of the Federal Reserve's Jackson Hole symposium on Friday and what central bank Chair Jerome Powell might say about US tapering monetary stimulus.
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