FTSE 100 down 0.9, FTSE 250 off 1.0
GSK rises on RSV vaccine success in latestage trial

June 10 Reuters UK39;s top stock index fell nearly 1 on Friday, with miners leading the losses after parts of Shanghai announced fresh COVID19 curbs, while GSK rose as its respiratory vaccine succeeded in a latestage trial for older adults.

The bluechip FTSE 100 index was down 0.9, while the domestically oriented FTSE 250 index declined 1.0. The indexes were set for weekly losses of 1.8 and 2, respectively.

All sectors were in the red, with miners shedding 2.3 as industrial metals retreated after renewed COVID19 restrictions in top consumer China rekindled demand worries.

The European Central Bank said on Thursday it would deliver its first rate hike since 2011 next month, followed by a potentially larger move in September. 

Inflation is what39;s scaring the horses on financial markets and equities… The ECB39;s decision yesterday was a fresh jolt for markets and another sign that the cheap money journey is hurtling abruptly to an end, said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

We deem the ECB to be rather optimistic on growth… whereas we expect a sharp downturn at the end of the year and into 2023, with the bloc39;s economy getting close to recession at the turn of the year, Morgan Stanley researchers wrote in a note.

Next week, the Bank of England will likely raise rates for the fifth time since December as near10 inflation,…