Banks, Miners Drag FTSE 100 Lower; Hammerson Jumps

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April 12 Reuters Londons FTSE 100 fell on Monday, dragged lower by heavyweight banking and mining stocks, while shares of shopping centre operator Hammerson gained on plans to shore up its finances.

The bluechip index slipped 0.2 after recording its best weekly performance since earlyJanuary on Friday.

The wider banks index slid 0.8, with HSBC Holdings being the biggest loser.

Miners Anglo American, BHP Group, and Glencore tumbled more than 1 each, tracking lower metal prices.

The domestically focussed midcap FTSE 250 index edged 0.1 lower, with airline easyJet falling 2.5 after HSBC downgraded the stock to hold from buy.

Hammerson gained 1.4 after the company confirmed that it was in talks for a possible sale of its retail parks portfolio to Canadian private equity player Brookfield Asset Management.

C4X Discovery jumped 16.3 after the drug developer signed an exclusive licensing deal worth up to 492.12 million with French drugmaker Sanofi to develop an oral therapy for treatment of inflammatory diseases.

Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V

Source Reuters

 

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