Commodity-linked stocks pull FTSE 100 lower as China-demand worries rise
London's FTSE 100 slipped on Monday, with energy and mining stocks leading broad-based declines as investors worried about China's economic outlook amid protests in the country against its strict COVID-19 curbs. The blue-chip FTSE 100 and the more domestically-focused FTSE 250 midcaps shed 0.7% each.
- Country:
- United Kingdom
London's FTSE 100 slipped on Monday, with energy and mining stocks leading broad-based declines as investors worried about China's economic outlook amid protests in the country against its strict COVID-19 curbs.
The blue-chip FTSE 100 and the more domestically-focused FTSE 250 midcaps shed 0.7% each. Energy stocks fell 1.0%, while base metal miners and precious metal miners dropped 0.6% and 0.9%, respectively.
Commodity prices dipped on worries about demand from top consumer China where protests against strict COVID-19 restrictions flared up. China's zero-COVID policy has already slowed the economy and pressured global growth but failed to stem the rise in infections. Asia-exposed lenders HSBC and Standard Chartered both fell more than 1%.
Data showed Black Friday shopper numbers across Britain rose 3.7% year-on-year, albeit they were still down 21.3% on pre-pandemic levels. The focus will now be on Cyber Monday sales amid a worsening cost-of-living crisis.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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