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FTSE 100 Subdued As Metal Stocks Decline On China Growth Concerns
(RTTNews) - U.K. stocks were subdued on Thursday as mining stocks fell on concerns about China's economic recovery and the Fed's hawkish policy outlook.
The benchmark FTSE 100 was marginally lower at 7,599 after closing 0.1 percent higher on Wednesday.
Miners Antofagasta and Glencore fell over 1 percent each as the latest Chinese data on retail sales, industrial output, fixed asset investment and home prices fueled the gloom over the country's economic recovery.
Anglo American fell nearly 2 percent. The company has signed a pact with Jiangxi Copper Company, a Chinese copper producer, to work together to provide greater assurance on the way copper is mined, processed, and brought to market.
Event organizer Informa jumped 3.2 percent after lifting its annual outlook.
Agri-Services group Origin Enterprises gained 1.7 percent. The company reported that its year-to-date revenue increased 9.3 percent or 11.3 percent on a constant currency basis to over 1.92 billion euros.
Halma plunged 5 percent after posting lower FY23 attributable profit.
Legal & General fell 2.6 percent after naming an outsider as its next chief executive officer to replace Nigel Wilson.
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Yen Rises Against Majors
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