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FTSE 100 Little Changed As Commodity Stocks Drag
(RTTNews) - U.K. stocks were little changed on Wednesday as energy stocks fell after a sharp decline in oil prices overnight.
The benchmark FTSE 100 was marginally higher at 7,563 after climbing 1.4 percent in the previous session.
Oil & gas firm BP Plc lost 3 percent and Shell declined 2.7 percent as oil prices fell nearly 2 percent in European trade, after having fallen more than 4 percent in the U.S. trading session amid a deteriorating fuel demand outlook in China.
Miners Anglo American and Antofagasta both fell around 1 percent while commodity trading and mining firm Glencore lost nearly 5 percent.
Banks HSBC Holdings and Barclays rose around 1 percent each on expectations that they would benefit from higher interest rates.
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