Mining and oil stocks send FTSE 100 tumbling as commodity prices tumble By Reuters

© Reuters. FILE PHOTO: British five pound banknotes are seen in this illustration taken November 14, 2017. REUTERS/Benoit Tessier/Illustration

(Reuters) – The United Kingdom fell in early trading on Tuesday, led by mining and oil stocks, as commodity prices fell on concerns over a resurgence of COVID-19 cases in China, while Imperial Brands (LON:) shares fell after a profit warning.

The commodity-heavy FTSE 100 fell 1.4% at 0819 GMT, while the mid-cap index fell 1.0%.

Britain’s oil and gas index fell 1.6% as crude prices fell to two-week lows, while industrial miners fell 3.1% as most oil prices metals fell. [O/R] [MET/L]

Imperial Brands fell 1.5% after saying its exit from Russia would have a slight impact on its full-year profit and the cigarette maker had entered into talks with a third party to transfer assets amid the Ukraine crisis.

Events Group Information Plc (LON:) rose 1.2% after posting a higher annual profit as more trade shows and conferences resumed after the pandemic pause and its digital business grew.

Data showed Britain’s unemployment rate fell more than expected to 3.9% in the three months to January as the country grappled with the Omicron wave of coronavirus.

Warning: Merged media would like to remind you that the data contained in this site is not necessarily real time or exact. All prices for CFDs (stocks, indices, futures) and Forex are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price, which which means that the prices are indicative and not suitable for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur due to the use of this data.

Merged media or anyone involved with Fusion Media will accept no liability for any loss or damage resulting from reliance on the information, including data, quotes, charts and buy/sell signals contained in this website . Please be fully informed of the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investment possible.


Source link

Felix J. Dixon