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FTSE 100 lower as oil majors weaken, Hargreaves tumbles

FTSE 100 lower as oil majors weaken, Hargreaves tumbles
FILE PHOTO: Traders look at financial information on computer screens on the IG Index trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson -
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(Reuters) – London’s FTSE 100 fell half a percent to the lowest in almost three months as worries about trade and economic growth continued to dominate stock markets, while money manager Hargreaves Lansdown was hurt by the suspension of one of Neil Woodford’s investment funds.

The FTSE 100 fell 0.5% and the FTSE 250 gave up 0.4% by 0719 GMT, tracking falls for Asian and U.S. stock markets overnight.

Oil majors bore the brunt of the fall, with Shell down 1.5% even as it forecast an increase to its dividend payouts and raised its free cash flow outlook.

Fund supermarket Hargreaves Lansdown slipped 6.2%after high-profile fund manager Neil Woodford suspended trading in one of his funds following an increase in demand from clients seeking to reclaim their money.

Woodford Equity Income is held in six of Hargreaves’ Multi-Manager funds, while Woodford Income Focus is in one of the HL Multi-Manager funds.

Shares of the company were on course for their worst day in more than two years.

(Reporting by Shashwat Awasthi in Bengaluru)

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