LONDON: British equities slipped on Monday, with mining stocks leading declines after weak economic data from top commodities consumer China knocked down metal prices, while energy stocks mirrored a dip in crude prices.
The blue-chip FTSE 100 lost 0.4%, while the more domestically focussed FTSE 250 midcap index fell 0.9%.
China’s economy grew at a frail pace in the second quarter, with the post-COVID momentum faltering rapidly and raising pressure on policymakers to deliver more stimulus to shore up activity.
Industrial metal miners dipped 2.6% as prices of most base metals came under pressure.
Heavyweight energy stocks fell 0.5% on lower oil prices.
Focus now shifts to UK consumer prices data due Wednesday, after data last week showed US inflation easing. UK’s inflation is expected to ease slightly in June to 8.2% from 8.7% a month ago.
Comments
Comments are closed.