FTSE 100 Drifts Lower; Miners Among Notable Losers
(RTTNews) - The U.K. market is down in negative territory on Monday, weighed down by losses in the mining sector. The mood remains quite cautious amid concerns about global economic growth as several central banks, including the Federal Reserve and the European Central Bank signaling that further interest rate cuts are unlikely in the coming months.
Investors are awaiting the Bank of England's monetary policy announcement this week. The BoE is widely expected to hold interest rate at 4%.
The benchmark FTSE 100 was down 58.52 points or 0.6% at 9,642.85 a few minutes before noon.
Anglo American Plc and Antofagasta are down nearly 3%. Glencore and Rio Tinto are lower by 2.2% and 2%, respectively. Fresnillo is down 1.6% and Fresnillo is declining by about 1.25%.
Associated British Foods is down 3.7%. The company's full-year attributable profit was also down 29.6% to 1.03 billion pounds for the 52 weeks ended Sept. 13. Group revenue fell 2% to 19.46 billion pounds sterling.
Burberry Group, JD Sports Fashion, Hikma Pharmaceuticals, Beazley, Entain, Rolls-Royce Holdings, Whitbread, IMI, Easyjet, Vodafone Group, Lloyds Banking Group, Natweat Group, Melrose Industries and Schroders are also among the notable losers.
Among the gainers, Segro is rising 2.35%. GSK, Convatec Group, Barratt Redrow, Land Securities, United Utilities, Severn Trent, Persimmon and National Grid are up 0.5 to 1.3%.
U.S. Dollar Falls Against Euro, Pound
Swiss Market Ends On Weak Note
European Markets Close Weak On Growth Concerns, Fading Fed Rate Cut Hopes
Canadian Market Rebounds From Early Setback; Technology, Energy Stocks Rise
Bay Street Likely To Open On Weak Note
FTSE 100 Down Sharply As Bond Yields Climb Higher
CAC 40 Sheds About 1.3% On Economic Concerns
