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FTSE 100 Drifts Lower On Inflation Concerns

U.K. stocks drifted lower on Friday, with a jump in bond yields and concerns of lofty equity valuations keeping investors worried.

A rout in global bond markets sent yields flying and stoked concerns about early tapering.

The benchmark FTSE 100 dropped 20 points, or 0.3 percent, to 6,631 after closing 0.1 percent lower on Thursday.

Law Debenture Corp shares fell 2 percent. The company reported pretax profit of 4.1 million pounds for fiscal 2020 compared to 131.4 million pounds, prior year.

Retail company Pets At Home Group surged 5 percent after upgrading its FY outlook.

Real estate company Rightmove gave up 2.5 percent after reporting a sharp drop in both revenues and profits for last year.

Jupiter Fund Management rallied 2.1 percent. The company ended 2020 with its assets under management at a record high.

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