FTSE 100 Dips As Commodity Stocks Drag
(RTTNews) - U.K. stocks declined on Thursday as lower commodity prices weighed on energy stocks and miners.
The benchmark FTSE 100 was down 18 points, or 0.3 percent, at 7,277 after closing down 0.1 percent on Wednesday.
Miners Anglo American and Antofagasta fell around 2 percent each as a surge in COVID-19 cases spurred lockdowns in the southern Chinese manufacturing hub of Guangzhou.
BP Plc dropped half a percent and Shell gave up 1.3 percent as oil extended losses for a fourth day on bearish inventory data and China demand worries.
Defense technology firm QinetiQ fell 2.2 percent despite the company lifting its full-year guidance.
Retailer WH Smith added 1.4 percent after it swung to a profit in FY22 and reinstated dividends.
Energy giant Centrica jumped 8.5 percent after lifting guidance and launching a £250mn share buyback.
Tate & Lyle advanced 1.6 percent. The provider of food-and-beverage ingredients reported a rise in pre-tax profit for the first half and said it expects to meet full-year market expectations.
Drug maker AstraZeneca gained 1.3 percent after lifting its FY22 earnings growth view.
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