Reuters logo
UK's FTSE slips back, Hargreaves Lansdown tumbles
August 12, 2014 / 7:45 AM / 3 years ago

UK's FTSE slips back, Hargreaves Lansdown tumbles

* FTSE 100 slips back after 1 percent bounce on Monday
    * Friction between West and Russia over Ukraine weighs
    * UBS starts Hargreaves Lansdown with "sell" rating

    By Sudip Kar-Gupta
    LONDON, Aug 12 (Reuters) - Britain's benchmark equity index
slipped on Tuesday as tensions between the West and Russia over
Ukraine kept investors on edge, while investment group
Hargreaves Lansdown fell on negative broker comments.
    The blue-chip FTSE 100 index edged down 0.1 percent,
or 8.06 points, to 6,624.76 points in early trading.
    The FTSE rose 1 percent on Monday after Russia said it would
pull troops back from near the Ukrainian border, which investors
interpreted as a sign of that tensions could ease.
    But a convoy of 280 trucks which Russia said was carrying
humanitarian aid for Ukraine set off on Tuesday, amid Western
warnings to Moscow against using help as a pretext for an
invasion. Ukraine also reported that Russia had massed 45,000
troops on its border. 
    "The Ukraine situation is going to be simmering for a while.
We had a good bounce back yesterday, but we're still in a
downtrend. I'd still be selling any decent rallies," said
Berkeley Futures associate director Richard Griffiths.
    Hargreaves Lansdown was the worst FTSE 100 performer in
percentage terms, falling 3.6 percent after investment bank UBS
started coverage of the stock with a "sell" rating.
 
    The FTSE 100 hit a peak of 6,894.88 points in mid-May, which
marked its highest level since December 1999. It has since
retreated and is down 1.9 percent since the start of 2014.
    "The geopolitical tensions are going to be a drag on
equities for a while," said Hantec Markets analyst Richard
Perry.

 (Reporting by Sudip Kar-Gupta, editing by John Stonestreet)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below