FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange

Financial Stocks Drag FTSE 100 Lower; DS Smith Outperforms

The blue-chip index fell 0.3%, with shares of banking and investment banking and brokerage services providers shedding 0.8% and 0.6%, respectively.

Heavyweight oil majors BP and Royal Dutch Shell slipped about 0.4% as oil prices remained muted amid fears over slower demand.

The domestically focused mid-cap FTSE 250 index was flat.

DS Smith gained 3.3% as J.P.Morgan raised its price target on the cardboard maker’s stock after it said trading continued to progress well in line with the trends.

TP ICAP Group Plc fell 4.6% after the world’s largest inter-dealer broker reported a lower half-year profit as market volatility eased.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty)