FTSE 100 Extends Losses As Commodity Stocks Drag
(RTTNews) - U.K. stocks fell on Tuesday to extend losses from the previous session as lower commodity prices weighed on mining and energy stocks.
The benchmark FTSE 100 was down 35 points, or half a percent, at 7,514 after losing 2.6 percent on Monday.
Anglo American, Antofagasta and Glencore fell 1-2 percent as London copper prices declined around 1 percent on news that Chinese regulators might take steps to curb inflated iron ore prices.
Oil & gas firms BP Plc and Shell both fell around 1.7 percent as oil maintained its downward trajectory on fears of a fresh financial crisis in the United States.
HSBC declined 1.7 percent to extend losses for a fourth day running. On Monday, the lender bought the U.K. arm of failed U.S. lender Silicon Valley Bank for a nominal 1 pound ($1.2) in a rescue deal.
Financial services business Close Brothers slumped 4 percent after reporting a 90 percent fall in adjusted operating profit to £12.6mln during the first six months ending January 2023.
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