FTSE 100 Slips On China COVID Concerns
(RTTNews) - U.K. stocks edged lower on Tuesday amid lingering worries about the COVID-19 situation in China.
Due to the size of the Chinese economy, analysts say that the recent surge in virus cases in the country after a sudden policy shift will have an adverse impact on the global economy in the short term.
The benchmark FTSE 100 dipped 12 points, or 0.2 percent, to 7,347 after rising 0.4 percent the previous day.
Miners traded mixed, with Antofagasta and Glencore rising around half a percent after China's central bank kept benchmark lending interest rates unchanged for the fourth consecutive month.
Bunzl slipped half a percent after the company sold its U.K. healthcare division and bought four new businesses in a series of deals.
Oilfield services provider Petrofac lost 10 percent after flagging an annual operating loss.
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