(Reuters) – Financial stocks pushed London’s FTSE 100 lower on Friday after China’s economic growth fell to a near 30-year low and on uncertainty ahead of a parliamentary vote on the new Brexit deal.
The main index <.FTSE> shed 0.3%, with Asia-focussed HSBC <HSBA.L> dragging the most, as China’s third-quarter GDP growth slowed more-than-expected amid a bruising trade war with the United States.
The blue-chips were also dragged lower by a 2% dip in InterContinental Hotels <IHG.L> after the Holiday Inn-owner blamed lower business bookings in China and protests in Hong Kong for a drop in revenue.
The FTSE 250 <.FTMC> fell 0.1%, as domestic stocks eased after a week of volatile, Brexit-driven trading and as uncertainty remained whether British lawmakers would approve the new accord on Saturday.
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Shounak Dasgupta)