FTSE 100 Slides As Energy Stocks Drag
(RTTNews) - U.K. stocks traded lower on Monday, with commodity stocks moving lower after data showed slowing industrial profit growth in China.
The benchmark FTSE 100 was down 0.2 percent at 7,471 after finishing marginally lower on Friday.
BP Plc dropped 0.8 percent and Shell fell 1.2 percent as Bent prices fell toward $80 a barrel following reports of disputes among OPEC+ members on their production quotas next year.
Miners Anglo American and Glencore were down around half a percent each.
Rightmove jumped nearly 7 percent after the property portal raised part of its revenue guidance for 2023.
GSK edged up slightly after announcing positive headline results from phase III trial evaluating its elantamab mafodotin asset.
Insurer Aviva was marginally lower after it agreed to buy Optiom from Novacap and other minority shareholders for around £100m.
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German Unemployment Exceeds 3 Mln
U.S. PCE Price Index Increased In Line With Estimates In July
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