Miners energy stocks drag FTSE 100 as China upholds COVID policy
Nov 7 (Reuters) – UK’s export-oriented FTSE 100 started the week on a lacklustre note, dragged down by energy and mining stocks, as China dampened hopes of a rebound in commodity demand after it reiterated its zero-COVID policy to curb outbreaks. Energy stocks (.FTNMX601010) and miners (.FTNMX551030) were off 1.1% and 0.2%, respectively, tracking commodity prices that were hit as stringent COVID-19 curbs darkened demand outlook from China. Mortgage lender Halifax said British house prices fell in October at the fastest monthly rate since February 2021.
Nov 7 (Reuters) – UK’s export-oriented FTSE 100 started the week on a lacklustre note, dragged down by energy and mining stocks, as China dampened hopes of a rebound in commodity demand after it reiterated its zero- COVID policy to curb outbreaks .
The blue-chip FTSE 100 (. FTSE ) fell 0.5% on Monday, while the mid-cap FTSE 250 (.FTMC) was down 0.1% by 0808 GMT.
Energy stocks (.FTNMX601010) and miners (.FTNMX551030) were off 1.1% and 0.2%, respectively, tracking commodity prices that were hit as stringent COVID-19 curbs darkened demand outlook from China . METL/Mortgage lender Halifax said British house prices fell in October at the fastest monthly rate since February 2021. The construction materials sector (.FTNMX501010) slipped 0.4%.GSK Plc (GSK.L) slid 2.0% after the British drugmaker said its blood cancer drug Blenrep failed the main goal of a late-stage study.Shares of Joules Group (JOUL.L) plunged 34.4% after the struggling British fashion retailer said it was in advanced discussions with its investors for a cornerstone investment in an equity raise for the company.
