BREAKING NEWS

FTSE erases last week's gain on rising Hong Kong tensions

FTSE erases last week's gain on rising Hong Kong tensions
FILE PHOTO: Traders work at their desks whilst screens show market data at CMC Markets in London, Britain, December 13, 2018. REUTERS/Henry Nicholls -
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Henry Nicholls(Reuters)
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(Reuters) – UK’s main stock index fell sharply on Monday as a violent escalation in protests in Hong Kong knocked Asia-facing financial stocks, while investors waited for British economic growth numbers.

The FTSE 100 <.FTSE> slid 0.7% by 0806 GMT, handing back nearly all the gains accumulated last week, while the FTSE 250 index <.FTMC> of more domestic-focussed firms lost 0.5%.

Bluechips HSBC <HSBA.L>, Prudential <PRU.L> and China-exposed miners <.FTNMX1770> all slipped roughly 2% after news that Hong Kong police shot and wounded one protester as the pro-democracy unrest continued into its 24th straight week.

Baker Greggs <GRG.L>, however, leapt 9% to top FTSE 250 gainers after hiking profit targets.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Saumyadeb Chakrabarty)

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