• Thu. May 6th, 2021



FTSE 100 tracks Asia weakness after tech sell-off; Ashmore dips

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* FTSE 100 flat, FTSE 250 up 0.1%

Sept 11 (Reuters) – London’s FTSE 100 was subdued on Friday, tracking weakness in Asia as Wall Street’s tech rout hit global investor sentiment, while Ashmore inched lower after the money manager posted a drop in assets under management.

The blue-chip FTSE 100 was flat by 0704 GMT, with a dip in oil prices hitting shares of BP Plc and Royal Dutch Shell Plc. Financials were also among the decliners in early trading.

Still, the index was on course for its best weekly gain since June as a weaker pound boosted demand for its export-heavy constituents after no-deal Brexit fears returned to the forefront.

The mid-cap FTSE 250 edged up 0.1%, with consumer goods, healthcare and real estate stocks leading gains.

Data on Friday showed Britain’s economy grew for a third month in a row in July as pubs, restaurants and other sectors reopened after the coronavirus lockdown, but new business restrictions in England are likely to threaten the nascent rebound.

Emerging markets-focused money manager Ashmore fell 0.3% as a coronavirus-driven selloff in markets earlier this year hit its assets under management. (Reporting by Shashank Nayar in Bengaluru, Editing by Sherry Jacob-Phillips)

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