Risk aversion hits UK stocks at the end of a turbulent week

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UK’s main stock indexes slipped on Friday as global sentiment soured at the end of a week marked by political turmoil in Britain, soaring energy prices and hawkish comments from major central banks.

The blue-chip FTSE 100 dipped 0.3% by 0708 GMT and the domestically oriented FTSE midcap index also slid 0.3%.

Overall, risk aversion crept into global markets after the shooting of former Japanese Prime Minister Shinzo Abe, while investors awaited U.S. jobs data that could offer clues on the Federal Reserve’s rate hiking plans.

The pound, meanwhile, edged towards a two-year low in the wake of Boris Johnson announcing his resignation as British prime minister on Thursday.

Shares of global miners such as Rio Tinto and Anglo American dragged on the FTSE 100 the most, as metal prices slid on worries about China’s COVID-19 flare ups.

Housebuilder Vistry Group Plc rose 1.8% after it forecast “significant margin progression” in fiscal 2022. (Reporting by Sruthi Shankar in Bengaluru; Editing by Amy Caren Daniel)

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