FTSE 100 falls as weakness in commodities persists

UK's FTSE 100 slipped on Thursday as commodity prices continued to slide amid growing recession risks, while investor focus was on a slew of data for clues on the strength of the economy and the path for monetary policy as inflation risks mount. The blue-chip index fell 0.5%, extending losses after shedding 0.8% on Wednesday, while the mid-cap FTSE slipped 0.1%.

The heavyweight energy index fell 1.1% in morning trade as crude prices dived more than 2%, while miners slid 1.6% as fears over rising COVID-19 cases in China and aggressive U.S interest rate hikes pushed copper prices to a 16-month low. UK Purchasing Managers' Index (PMI) data, a monthly gauge of activity in the services and manufacturing industries, is due at 8:30 a.m. GMT, while key retail sales data is due on Friday.

Online gambling firm 888 fell 4.3% after saying it expects to report lower half-year revenue.