FTSE 100 Slips Nearly 0.5%; Mining Stocks Move Up
(RTTNews) - U.K.'s benchmark index FTSE 100 slipped Monday morning, although gains in the mining sector limited its downside. Shares from utilities and healthcare sectors were under pressure.
The benchmark FTSE 100 was down 45.17 points or 0.46% at 9,852.25 a few minutes past noon.
DCC drifted lower by about 4.4%. Diageo eased nearly 3%, whie Coca-Cola Europacific Partners, WPP, Imperial Brands, Croda International, Convatec Group, Reckitt Benckiser, Marks & Spencer, Pearson, United Utilties Entain and Tesco lost 1 to 2.2%.
Endeavour Mining climbed 2.7%. Fresnillo gained 2.35%, while Rio Tinto and Antofagasta gained 1% and 0.8%, respectively. Polar Capital Technology Trust gained nearly 1%.
Data from the Office for National Statistics showed the UK economy registered a meager growth as initially estimated in the third quarter, growing by unrevised 0.1% sequentially, following the second quarter's 0.2% expansion.
The growth was driven by increases in services and construction, while industrial output contracted.
The dominant service sector advanced 0.2%, following a growth of 0.3% a quarter ago. Construction output also expanded 0.2% after rising 1.2% in the preceding period.
Industrial production fell 0.3% but slower than a 0.7% fall in the previous quarter. The monthly fall was mainly because of a drop of 0.8% in manufacturing and a 0.4% fall in mining and quarrying.
On a yearly basis, GDP expanded 1.3% in the third quarter, unchanged from the initial estimate.
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