FTSE 100 drops as interest rate concerns weigh on housebuilders
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The FTSE 100 had a cautious morning of trading but quickly dropped to its lowest point this month after hotter-than-expected US Consumer Price Index inflation figures. The data suggested hopes of interest rate reductions soon could be premature and particularly dented housebuilders amid concerns about the mortgage market. “January consumer price inflation falling less than expected was enough of a catalyst to cut the equity rally short, push yields and the US dollar to two-month highs. The price of oil improved for the seventh day in a row as tensions in the Middle East continue to put pressure on supply A barrel of Brent crude oil was up by 1.02% to 82.84 US dollars as markets were closing in London The biggest risers on the FTSE 100 were AstraZeneca, up 99p to 9,600p, GSK, up 15.4p to 1,641.8p, Centrica, up 1.1p to 135.55p, HSBC, up 2.1p to 610.5p, and Anglo American, up 4.4p to 1,756p.
History of this topic
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