Miners lead fall on London’s FTSE 100
By the end of the day of trading, Anglo American, Glencore, Rio Tinto and others were gathered towards the bottom of the index.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shares in London’s mining giants helped push down the FTSE 100 on Monday as investors cashed in on a recent jump in share prices.
By the end of the day of trading, Anglo American, Glencore, Rio Tinto and others were gathered towards the bottom of the index.
“European markets have got the new week off to a slow and mixed start with a weak commodities sector weighing on the FTSE 100, with weakness in basic resources and energy acting as the main drag,” said CMC Markets analyst Michael Hewson.
“We appear to be seeing some profit taking in miners after the broker upgrade-inspired gains of Friday which saw Anglo American and Antofagasta pop higher.
“BP and Shell are also acting as a drag on the back of further weakness in oil and gas prices.”
The FTSE 100 fell 16.39 points, or 0.22%, to end the day at 7512.96.
At the end of the day in Europe, Frankfurt’s Dax index rose 0.04%, while the Cac 40 in Paris closed down 0.18%.
In New York a little while after markets closed in Europe, the S&P 500 was trading down 0.75%, while the Dow Jones was 0.39% lower.
On currency markets, the pound dropped 0.7% against the dollar to 1.2622. Against the euro it fell 0.1% to 1.1662.
In company news, shares in 888, which owns William Hill, soared after a report in the Sunday Times that the company rejected a £700 million bid this summer.
The company’s shares closed up 17.3%, ending the day at 82.8p per share, still well short of the 156p that Playtech was reported to have bid in the summer.
Elsewhere, shares in Capita rose 2.9% after the business said it would sell its three-quarters stake in a joint venture with the Government to a private equity company.
Capita said it would get £60 million for its stake in Fera Science, which it co-owns with the Department for Environment, Food and Rural Affairs (Defra). The business specialises in environmental testing.
The biggest risers on the FTSE 100 were Rolls-Royce, up 8.7p to 285.4p, JD Sports, up 4.55p to 164.9p, BT, up 2.45p to 126.1p, WPP, up 12.2p to 723p, and B&M European, up 9.2p to 598.2p.
The biggest fallers on the FTSE 100 were Anglo American, down 86.5p to 2224.5p, Glencore, down 14.05p to 443.65p, Rio Tinto, down 151p to 5,448p, Antofagasta, down 39.5p to 1,456p, and Burberry, down 30p to 1,468.5p.