FTSE falls as banks weaken on China GDP, Brexit nerves

FTSE falls as banks weaken on China GDP, Brexit nerves
Traders looks at financial information on computer screens on the IG Index trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson/Files -
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(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)

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