LONDON MARKETS: FTSE 100 Veers Toward Second Straight Loss, With Miners Under Pressure
2017年12月6日 - 6:24PM
Dow Jones News
By Carla Mozee, MarketWatch
EasyJet upgraded
U.K. stocks dropped Wednesday, with mining shares leading
broad-based losses that could pull London's blue-chips market to a
second straight losing session.
What markets are doing: The FTSE 100 index fell 0.4% to
7,300.03, as the basic material, tech and industrial groups led all
sectors lower. On Tuesday, the index shed 0.2%
(http://www.marketwatch.com/story/ftse-100-lifted-by-rising-supermarket-stocks-weaker-pound-2017-12-05)
for its fourth loss in five sessions.
The pound bought $1.3438, little changed from $1.3442 late
Tuesday in New York. Against the euro, sterling bought EUR1.1339,
also little changed from Tuesday when the pound bought
EUR1.1367.
What's moving markets: Stocks trading in London and across
Europe followed in the footsteps of losses Tuesday on Wall Street
(http://www.marketwatch.com/story/dow-looks-on-track-for-another-record-while-nasdaq-appears-set-to-fall-again-2017-12-05),
where the S&P 500 Index fell for a third straight session,
suffering its longest losing streak since August. Weakness spilled
over to Asian markets. Overall in global markets, technology stocks
have been under pressure as investors had been rotating into banks
and retail shares as Washington hammers out plans to cut taxes.
Also, mining stocks have been knocked down in the wake of recent
losses for copper prices on worries over rising inventories and the
potential for slowing demand from China, which makes up about half
of global consumption for the industrial metal.
Stock movers: Copper prices were moving higher Wednesday
following Tuesday's slide of 4.7% on the Comex market, according to
FactSet data. Still, London-listed mining stocks were losing
ground. Glencore PLC (GLEN.LN) and Antofagasta PLC (ANTO.LN) each
fell 1.2%, Rio Tinto PLC (RIO) (RIO) (RIO) gave up 1.4% and BHP
Billiton PLC (BLT.LN) (BHP.AU) (BHP.AU) moved down 1.3%.
Hammerson PLC (HMSO.LN) fell 3.5%, at the bottom of the FTSE
100, after the retail property developer said Wednesday it's buying
shopping center owner Intu Properties (INTU.LN) for GBP3.4 billion
($4.6 billion). Intu shares rallied 18%.
EasyJet PLC (EZJ.LN) was up 1.4%, with a ratings upgrade to
overweight from underweight at J.P. Morgan Cazenove. The discount
airline said it'll roll out German domestic routes from Berlin next
month, according to media reports.
Off the FTSE 100, shares of Saga PLC (SAGA.LN) dropped 21% after
the travel and insurance company warned that it expects its
underlying profit growth
(http://www.marketwatch.com/story/saga-profit-lagging-on-monarch-collapse-headwinds-2017-12-06)
for its current financial year to be behind the previous year. It
cited more challenging insurance broking conditions and disruption
to its tour operations as reasons for the outlook.
(END) Dow Jones Newswires
December 06, 2017 04:09 ET (09:09 GMT)
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