London’s FTSE 100 slipped on Monday, with energy and mining stocks leading broad-based declines as investors worried about China’s economic outlook amid protests in the country against its strict COVID-19 curbs.
The blue-chip FTSE 100 and the more domestically-focused FTSE 250 midcaps shed 0.7% each.
Energy stocks fell 1.0%, while base metal miners and precious metal miners dropped 0.6% and 0.9%, respectively.
Commodity prices dipped on worries about demand from top consumer China where protests against strict COVID-19 restrictions flared up.
China’s zero-COVID policy has already slowed the economy and pressured global growth but failed to stem the rise in infections. Asia-exposed lenders HSBC and Standard Chartered both fell more than 1%.
Commodity stocks support FTSE 100 ahead of PMI data
Data showed Black Friday shopper numbers across Britain rose 3.7% year-on-year, albeit they were still down 21.3% on pre-pandemic levels.
The focus will now be on Cyber Monday sales amid a worsening cost-of-living crisis.
Comments
Comments are closed.