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FTSE 100 edges down

On Wednesday, British shares lost ground. It appeared to be the first day in June, starting with losses in housing and mining stocks.   

The FTSE 100 index descended 0.4%, trading at 6,205.56. On Tuesday, the index closed 0.6% lower, weighed by a survey unveiling more support for an exit of Great Britain from the EU. In May, the index finished down 0.2%.  

During Wednesday’s trade, the vast majority of mining stocks struggled following China’s manufacturing data. In May, the official measure of the sector was intact, while the private Caixin index tumbled from 49.4 to 49.2 in April.

Mining stocks appear to be extremely sensitive to developments in China. By the way, this Asian country is a number one buyer of precious as well as industrial metals. Stocks of platinum and copper producer Anglo American PLC sank 2.1%.  As for copper miner Antofagasta PLC, its shares descended 1.9%, while iron ore heavyweights BHP Billiton PLC as well as Rio Tinto PLC lost 1.5%.

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