LONDON: British shares pulled back on Wednesday, weighed by bankers and miners as a global risk-off mood combined with a stronger pound conspired against the UK stock market. Britain’s blue-chip FTSE 100 index was down 0.9 percent, hitting a two-week low and set for its biggest daily drop since late January. Investors globally were growing concerned that much-anticipated reflationary policies from the new US administration would take longer to materialise than hoped. Banking and mining, which had seen the greatest gains from the ‘Trump trade’ as investors bet on reflation and infrastructure spending, were the biggest sector fallers. “There’s a degree of fiscal frustration – what’s been driving markets is the hope and promise of fiscal stimulus, tax cuts and deregulation, and investors were expecting many more details than what we have by this point,” said Alex Dryden, global market strategist at JP Morgan Asset Management. “Markets have been very tranquil so far this year, and that suggests to me that any sort of move was going to cause some shockwaves,” he added. A pound strengthened by a jump in inflation was also putting pressure on Britain’s major index, whose constituents mainly earn foreign currency. Rio Tinto, BHP Billiton and Ashtead were among top fallers, down 2.6 to 3.5 percent, as lower copper prices dragged on the miners.