FTSE 100 Slips As Resource Stocks Drag On China Concerns
(RTTNews) - U.K. stocks were moving lower on Tuesday, with resource shares declining amid fading hopes of top consumer China easing its strict zero-COVID policy.
Signs of increased coronavirus cases in Guangzhou and other Chinese cities and caution amid the U.S midterm elections also dented sentiment.
The benchmark FTSE 100 was down 24 points, or 0.3 percent, at 7,276 after declining half a percent on Monday.
Miners Anglo American, Antofagasta and Glencore fell 1-2 percent, while oil & gas firm BP Plc gave up 1.7 percent and Shell declined 1.4 percent.
3i Infrastructure jumped 3.4 percent after reporting improved earnings in the first half of the year.
Associated British Foods soared more than 5 percent. After reporting a jump in annual profits, the Primark owner has announced a £500mln share buy-back program for the current financial year.
Hammerson climbed 9 percent. The retail property firm said that footfall at its Irish flagships improved to 90pc of 2019 levels in the third quarter of the year.
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
