LONDON (dpa-AFX) - The U.K. stock market is down in negative territory, with the pound sterling rebounding after recent setback and markets across the globe wilting under pressure due to geopolitical worries and trade related tensions.
Italy's budgetary woes and the diplomatic isolation of Saudi Arabia following the alleged killing of journalist Jamal Khashoggi at a consulate in Turkey earlier this month are taking a toll on markets across the globe.
Uncertainty about a smooth Brexit weighed as well. The British pound was trading at $1.2997, compared with yesterday's rate of $1.2966 in late deals in New York.
The U.K.'s FTSE 100 index is down 59.50 points, or 0.84 percent, at 6,983.30.
Among the prominent losers, Provident Financial is down 5.5 percent, Mondi, St. Jame's Place, Babcock International, Hammerson, Glencore, Burberry Group and Antofagasta are lower by 3.5 to 4.5 percent.
Anglo American, Paddy Power, Vodafone Group, DCC, Ashtead Group, Mediclinic, Admiral Group, Merlin Entertainment, HSBC and British Land Company are also sharply lower.
Travis Perkins is gaining more than 3.5 percent. National Grid, British American Tobacco, Imperial Brands, Fresnillo and Randgold Resources are also up with impressive gains.
Copyright RTT News/dpa-AFX