THE FTSE 100 was down yesterday, weighed on by Paddy Power owner Flutter and Asiafocussed bank StanChart. The blue-chip FTSE 100 index eased 0.19 per cent to 7,274.81 points after closing at fresh February 2020 highs yesterday, while the UK-centric mid-cap FTSE 250 index slipped 0.31 per cent to 23,140.00 points.

Standard Chartered was the worst performer on the blue-chip as investors took flight from the bank despite it posting better than expected profits in the third quarter. Its shares plunged over 7.8 per cent by market close.

The Asia-focused bank produced a downbeat outlook, causing investor sentiment to sour toward the stock.

Miners BHP, Rio Tinto and Anglo American were among the worst performers on the FTSE 100 as a tumbling iron ore market weighed on metal prices.

Paddy Power, Betfair and Fanduel owner Flutter Entertainment dropped 7.7 per cent after it cut its full-year guidance on unfavourable sports results in October and a temporary exit from the Netherlands.

Cambridge-based cybersecurity firm Darktrace continued its descent today as investors brace for the business's top executives to potentially dump their holdings tomorrow.

Shares in online retailer THG plummeted again today after news broke that the world's largest asset manager, BlackRock, has sold around half of its stake in the company.

And, oil megacap fell more than 3.3 per cent as investors sniffed at its third quarter results despite it launching a £1.25bn share buyback in what was a bleak morning on London markets. Analysts are concerned BP may get left behind in the transition to netzero. The pound dropped 0.14 per cent against the greenback to buy $1.3654.

(c) 2021 City A.M., source Newspaper