By Khushi Singh and Shubham Batra
(Reuters) -UK stocks fell on Friday after a drop in Legal and General Group dragged the life insurance sector lower, while bond yields rose after comments from Bank of England’s Jonathan Haskel pushed investors to trim their bets on interest rate cuts.
The blue-chip FTSE 100 was down 0.3% on the day and hovered around two-week lows, while the midcap FTSE 250 slipped 0.2%. Both the indexes logged losses for a second week.
Legal & General slid 3.1% to its lowest in two months and was among the bottom performers on the FTSE 100, following a cut in price target by Citigroup.
The broader life insurance index shed 2.2% to hit a three-week low.
“Legal & General solvency remains strong but with the new CEO fresh in the seat, we see the likelihood of upside surprises from additional capital return as low at this point,” Citigroup wrote in a note to investors.
Shares of automobiles and parts were the top gainers…
