Fiona Cincotta August 13, 2019 9:49 AM
Asian shares all lost ground, led by the Hang Seng on -1.90%, the Shanghai Composite on -0.76%, and the Nikkei losing -1.11%. US trading followed suit, led by the Dow on -1.48%, and with the S&P500 and the Nasdaq losing -1.22% and -1.20% respectively. The slowing global economy depressed demand for oil, (-0.53%), pushing investors towards safe-haven investments such as gold, which gained just over 1%, and 10-Year US Treasuries, whose yields are now approaching a three-year low.
Financials on the falling FTSE 100 (-0.32%) continue to suffer, with Schroders, Hargreaves Lansdown and Prudential all among the laggards. Schroders lost -2.69%, while Hargreaves Lansdown lost -2.18% and Prudential was down -1.93%, ahead of the planned break-up of the group. Leading the benchmark were a mix of companies from different sectors. TUI was the lead performer, with its shares up 2.44%, with Just Eat gaining 1.77%.
The euro was down against sterling (0.927), and sterling remained flat against the dollar at 1.206.
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