Economy

xchrom

(108,903 posts)

16. FTSE hit by falls at banks and miners

Fri Aug 1, 2014, 07:33 AM

Aug 2014

http://uk.reuters.com/article/2014/08/01/uk-markets-britain-stocks-idUKKBN0G13J120140801

(Reuters) - Britain's top equity index fell to a three-week low on Friday, with banks and miners underperforming, as jitters ahead of U.S. data that could provide hints about the timing of a rate hike weighed on shares.

Weak UK manufacturing data on Friday also kept the London stock market on the back foot, with the blue-chip FTSE 100 equity index down by 1.2 percent, or 83.01 points, at 6,647.10 points by the middle of the trading day.

After this week's strong economic growth data from the United States, investors' focus has shifted to U.S. jobs data, due at 13:30 BST. Non-farm payrolls are predicted to have risen by 233,000 in July, which would mark the sixth month with job growth above 200,000.

Some analysts predicted a higher number, with Societe Generale forecasting that 280,000 net new jobs were created during the month.

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