FTSE 100 sags amid slumping miners and energy shares
On Tuesday, British stocks. It was their first loss for three trading sessions, because mining stocks dropped, when Antofagasta PLC dared to cancel its final dividend.
The FTSE 100 traded at 6,134.31, a 0.7% loss and even fewer than ten shares moved higher. Then, crude stocks lost ground, because energy prices kept falling. Asian shares set a pessimistic tone, when the BOJ refused to change its interest rates.
On Monday, the London Index grew 0.6%, driven by gains for mining stocks. However, the given sector tumbled on Tuesday, being led by a 10% sag in Antofagasta stocks. Additionally, the Chile-based copper producer reported it’s not going to pay its final dividend, justifying it by the intention to focus on cost cuts, because copper prices go down.
To add to this, in the mining group, BHP Billiton PLC lost 6% and Anglo American PLC closed -8.5%. BP PLC tumbled 1%, Royal Dutch Shell PLC decreased 0,9%, while the oil majors slumped amid falling oil prices, which in turn reacted on a poor hope for a supply freeze by key crude producers.