FTSE 100 Drops As Mining And Energy Stocks Drag On China Concerns

RTTNews | 649 days ago
Stocktwits
FTSE 100 Drops As Mining And Energy Stocks Drag On China Concerns

(RTTNews) - U.K. stocks were moving lower on Monday, with mining and energy stocks retreating on concerns about the health of Chinese economy.

The benchmark FTSE 100 was down 12 points, or 0.2 percent, at 7,512 after losing 1.2 percent on Friday.

Miners Anglo American and Glencore both fell over 1 percent as the dollar firmed up on risk aversion amid concerns over China's embattled property sector.

Concerns mounted around Country Garden, a major property developer in China which is now on the brink of default.

China's new bank loans tumbled in July and other key credit gauges also weakened, deepening investor concerns about the health of the world's second largest economy.

Weaker oil prices sent energy stocks lower, with BP Plc and Shell both falling around 1 percent.

Stocktwits
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