UK 10year bond prices hit twomonth low
Rentokil Initial down on weaker demand outlook
Hargreaves Lansdown falls on slower new client growth
FTSE 100 down 1.1, FTSE 250 off 0.6
Oct 19 Reuters The UK39;s FTSE 100 fell on Thursday as a rise in longterm government bond yields and uncertainty around the Middle East conflict kept investors riskaverse, while Rentokil Initial dropped on flagging weaker annual demand in North America.
The commodityfocused FTSE 100 was down 1.1 at 0838 GMT, while the midcap FTSE 250 slipped 0.6.
British 10year government bond prices fell to a new twomonth low as they extended a sharp selloff driven by Wednesday39;s higherthanexpected inflation data and higher oil prices.
Higher oil prices due to the geopolitical crisis in the Middle East will result in inflationary pressures, which is not helping the yield space, said Giles Coghlan, chief market analyst at GCFX Ltd.
Tenyear gilt yields rose as high as 4.726, up more than 6 basis points on the day and the highest since Aug. 22.
Rentokil Initial tumbled 14 to the bottom of the FTSE 100 after the pest control firm forecast fullyear performance slightly below the previous outlook due to softer demand in North America, its biggest market.
The broader industrial support services index fell 4.1, touching its lowest level in over 11 months.
The heavyweight oil and gas index was down 1.0, tracking lower oil prices, while industrial metal mining stocks lost 0.6 as copper prices slipped against…