UK shares inch lower as stronger pound, consumer spending data weigh

  • Reuters
  • Stock Market News
UK shares inch lower as stronger pound, consumer spending data weigh
Credit: © Reuters.

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* FTSE 100 down 0.2%, FTSE 250 off 0.1%

March 9 (Reuters) - London's FTSE 100 fell on Tuesday after a solid start to the week, as a stronger pound pressured exporters, while data showed a nationwide lockdown hurt consumer spending in February.

The blue-chip FTSE 100 index .FTSE fell 0.2%, dragged down by mining stocks, including Rio Tinto RIO.L , Anglo American AAL.L and BHP BHPB.L , falling between 2.6% and 3.5%.

Bank stocks, HSBC Holdings HSBA.L , Lloyds Banking group LLOY.L , and Barclays Plc BARC.L were also among the laggards.

British consumers cut back heavily on spending as they spent a second month in a COVID-19 lockdown in February but confidence in the economy hit a 12-month high, payment card firm Barclaycard said. domestically focused mid-cap FTSE 250 index .FTMC fell 0.1%, led by declines in communication services stocks.

World's largest inter-dealer broker TP ICAP (LON: NXGN ) Plc TCAPI.L fell 2.7%, after it halved its dividend citing a one-off reduction, and said first-quarter revenue might be lower compared to 2020. Energy CNE.L slumped 7.0%, after agreeing to sell its interests in the UK Catcher and Kraken oil fields in the North Sea to Waldorf Production Ltd for $460 million in cash.

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