*
FTSE 100 down 0.5%, FTSE 250 off 0.6%
March 9 (Reuters) - UK shares fell on Thursday as investors braced for a likely faster and longer period of interest rate hikes from the U.S. Federal Reserve, with mining names dragging the blue-chip index lower as metal prices dropped in the wake of a stronger dollar.
London's blue-chip FTSE 100 index fell 0.5% by 0819 GMT, and the mid-cap index lost 0.6%.
Overnight, Fed Chair Jerome Powell reiterated his stance that the central bank was prepared to hike interest rates and potentially faster, should the U.S. jobs and inflation data warrant.
With the Bank of England's rate-setters still split between a pause or more hikes, Powell's stance saw investors trying to price in the likelihood of the latter, a move typically negative for risk assets.
Rio Tinto was the biggest drag in the FTSE 100 as the miner traded without dividend eligibility. Falling iron ore and base metal prices aweighed on the broader sector.
Shares of Aviva rose 3.3% after the insurer posted a
35% rise in operating profit, and also announced a buyback
programme of 300 million pounds ($355.53 million).
($1 = 0.8438 pounds)
(Reporting by Susan Mathew in Bengaluru; Editing by Sherry
Jacob-Phillips)
UK hot stocks: and Wall Street: Gilts report: Euro bond report Pan European stock report: Tokyo stocks: HK stocks: Sterling report: Dollar report:
* For company prices, click on -
* Company directory: By sector:
* For pan-European market data, click on -
* European Equities speed guide................ FTSE Eurotop 300 index........................... DJ STOXX index................................... Top 10 STOXX sectors........................ Top 10 EUROSTOXX sectors................... Top 10 Eurotop 300 sectors.................. Top 25 European pct gainers.................... Top 25 European pct losers..................... ))
