Miners drag FTSE 100 lower after lacklustre production updates

The blue-chip index slipped 0.3%, with miners leading the way lower. BHP Group dipped 2.6% after the world's largest listed miner reported weaker-than-expected iron ore production for the March quarter, due to a pandemic-related labour crunch.

London's FTSE 100 fell on Thursday weighed down by underwhelming production updates from mining companies, while a jump in shares of airlines helped the midcap index stay afloat. The blue-chip index slipped 0.3%, with miners leading the way lower.

BHP Group dipped 2.6% after the world's largest listed miner reported weaker-than-expected iron ore production for the March quarter, due to a pandemic-related labour crunch. Antofagasta lost 7.8% as the Chilean miner's first-quarter copper production fell 24% year-on-year to 138,800 tonnes, hit by continued drought and lower grades.

Anglo American dropped 5.7% as the miner lowered its production outlook after its quarterly production fell 10%, partly owing to operations running at reduced capacity because of higher rates of COVID-19 infections among workers. The domestically focused midcap FTSE 250 index was flat with Wizz Air and Easyjet rising over 3% each.

U.S. peer United Airlines Holdings unexpectedly forecast a profit for the second quarter, as the carrier sees booming travel demand generating the highest quarterly revenue in its history.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)