Miners push UK’s FTSE 100 lower at start of cenbank-heavy week

The UK’s FTSE 100 slipped in early trade on Monday, with mining stocks amongst top decliners, while focus remained on a plethora of central bank meetings due this week.

By 0807 GMT, the blue-chip FTSE 100 fell 0.2%, while the more domestically-focussed FTSE 250 midcap index was flat.

Industrial metal miners lost 1.2% as prices of most base metals slipped on a firmer dollar, while iron ore prices lost ground on disappointing China consumer prices data.

Global miner Anglo American fell 1.3%, leading declines on the FTSE 100 after at least four brokerages reduced their price targets on the stock.

Oil stocks send FTSE 100 to 7-week closing high

Lower gold prices also pushed precious metal miners down 1.5%.

All eyes are now on major central banks, with the Bank of England, US Federal Reserve and the European Central Bank all scheduled to announce their monetary policy decisions during the week. All three are expected to hold rates at current levels.