London stocks slip as commodity stocks weigh, Boohoo slumps on forecast cut

Boohoo dropped 10% as the online fashion retailer said its revenue fell 17% in the six months to August and warned of a similar decline for the full year due to a slower-than-expected recovery in sales volumes. The internationally focused FTSE 100 lost 0.1% by 0702 GMT, while the more domestically focussed FTSE 250 was down by 0.5%.

UK-listed stocks opened lower on Tuesday, weighed down by energy and mining companies as prices of most commodities fell due to a stronger dollar, while Boohoo's shares slumped after the fashion retailer flagged a decline in annual revenue.

Industrial metal miners slipped 0.4%, while precious metal miners shed 1.1%, tracking prices of metals, including copper and gold. The heavyweight energy sector fell 0.1% as oil prices retreated about 0.5%.

The dollar reached fresh 11-month highs against major peers after the U.S. government avoided a partial shutdown while the manufacturing data fuelled expectations the Federal Reserve will keep rates higher for longer. Boohoo dropped 10% as the online fashion retailer said its revenue fell 17% in the six months to August and warned of a similar decline for the full year due to a slower-than-expected recovery in sales volumes.

The internationally focused FTSE 100 lost 0.1% by 0702 GMT, while the more domestically focussed FTSE 250 was down by 0.5%. Latest data showed that prices in British store chains rose at the slowest pace in a year in September, suggesting that the UK's inflation rate will continue to ease.

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