FTSE 100 Down 127 Points As Traders Await BOE Decision
(RTTNews) - U.K. stocks slumped on Wednesday, with miners suffering heavy losses on China demand worries and Fitch's move to downgrade U.S. credit rating.
Investors also looked ahead to the Bank of England's interest rate announcement on Thursday and the U.S. nonfarm payrolls report due to be published on Friday for directional cues.
The benchmark FTSE 100 was down 127 points, or 1.7 percent, at 7,539 after closing 0.4 percent lower on Tuesday.
Miners Anglo American, Antofagasta and Glencore fell 2-3 percent.
Ferrexpo dropped 2 percent after reporting a fall in pellet production for the first half of the year.
BAE Systems jumped 5 percent. The defense company upgraded its guidance for 2023 after reporting strong first-half figures.
Housebuilder Taylor Wimpey rallied more than 3 percent after its first-half trading beat expectations.
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