London Markets: FTSE 100 heads for worst week since August as AstraZeneca, BT slide

U.K.’s benchmark stock index dropped for a fourth straight day on Friday, extending its likely weekly loss, after heavyweights AstraZeneca and BT slumped on the back of disappointing earnings reports.

What are markets doing?

The FTSE 100 index UKX, -0.27% shed 0.3% to reach 7,469.11. The blue-chip benchmark is on track for a 2.6% weekly loss, which would be its biggest since August.

The pound GBPUSD, -0.3366% fell to $1.4212 from $1.4261 late Thursday in New York.

What is driving the market?

It’s been a tough week for stocks globally as concerns over a potential rapid rise in inflation sent bond yields rallying.

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