FTSE 100 Declines As Commodity Stocks Drag On Growth Concerns
(RTTNews) - U.K. stocks traded lower on Wednesday as lower commodity prices on the back of disappointing manufacturing data from China pulled down mining and energy stocks. Traders also watched the latest developments surrounding the U.S. debt ceiling bill. Anglo American, Glencore, BP Plc and Shell lost 1-2 percent after China reported a contraction in manufacturing activity in May.
The benchmark FTSE 100 was down 14 points, or 0.2 percent, at 7,508 after losing 1.4 percent on Tuesday.
Entain, owned by Ladbrokes, fell over 2 percent after the company revealed it expects to be hit by a large fine as part of an investigation by Britain's tax authority over historic corporate misconduct involving former third-party suppliers.
B&M European Value Retail S.A. jumped 5.6 percent after the discount retailer said it expects current adjusted core earnings to be higher in 2024.
Bloomsbury Publishing gained 2 percent after FY23 profit and revenue beat expectations.
Retailer WH Smith added 1 percent after lifting its full-year guidance.
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Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus
Pound Slides Against Majors
FTSE 100 Weak Again, Looks Headed For Weekly Loss
Pound Falls Against Majors
French Stocks Mostly Subdued In Cautious Trade
French Inflation Cools; Economy Expands As Estimated
