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FTSE 100 falls 1%, FTSE 250 down 0.6%
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Aviva's financial targets disappoint investors
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3i Group ( TGOPF ) cautious on new investments
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UK economy barely expands in Q3
(Updates after market close)
Nov 13 (Reuters) - London's FTSE 100 closed lower on
Thursday after a three-day run of record highs, weighed down by
financial shares as investors assessed disappointing
third-quarter economic growth data.
The blue-chip index ended 1% down, marking its worst
performance since April 9, when global markets were rattled by
U.S. President Donald Trump's tariff announcements.
The mid-cap FTSE 250 also dipped 0.6%.
The investment banks & brokerages sub index
extended declines from the morning and fell 7.8%.
3i Group ( TGOPF ) slumped 17.4% in its worst day on record
after the investment firm expressed caution about deploying
capital, saying that the transaction market and broader
environment will likely remain challenging.
The energy sector dropped 1.3% as investors
weighed concerns about global oversupply, even as oil prices
ticked up.
On the data front, Britain's economic performance showed
minimal momentum in the third quarter, with growth hampered by a
cyberattack on Jaguar Land Rover in September.
Sterling briefly touched a session low following the
data release before recovering to trade 0.5% higher.
Global markets remained focused on the flow of economic data
from the U.S. after President Trump signed legislation ending
the country's longest government shutdown. The 43-day data
blackout left both the Federal Reserve and traders uncertain
about labour market conditions and inflation trends.
Back in the UK, life insurers fell 2.4%, as
Aviva dropped nearly 6.2% after the insurer's new
financial targets failed to impress investors.
Rolls-Royce dropped 2.8%, even as the aero-engineering firm
said it was confident on its full-year forecasts despite supply
chain disruption.
Burberry ( BBRYF ) shares reversed course to end 2% lower
after hitting their highest since July 29 on the news that the
luxury brand had posted its first quarter of growth in two
years.
Precious metal miners rose 4.5%, easing
from an earlier 8.3% surge in the day, as gold retreated after
touching its highest level in more than three weeks.
Wizz Air's ( WZZAF ) shares climbed 6.7% after the airline
reported strong first-half operating profit.