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.