FTSE 100 Slips as Bond Yields Hit MultiDecade Highs
London stocks fell as surging oil prices and a global bond rout renewed inflation worries. Benchmark gilt yields touched a 19year high while energy shares gained.
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London stocks fell Thursday afternoon as surging oil prices and a global bond rout pushed benchmark 10-year gilt yields to a 19-year high of 5.527%. The blue-chip FTSE 100 index closed 0.2% lower, while the midcap FTSE 250 slipped 0.4% amid growing inflation worries. Energy shares cushioned the blow, limiting broader declines across the United Kingdom market.
