Minor drags FTSE 100 slides

Miners fell and UK stocks fell on Wednesday after data showed that China’s factory gate prices rose at the fastest pace in more than 12 years in May against the backdrop of soaring commodity prices.

Investors are waiting for the release of US inflation data on Thursday, which may provide clues about the Federal Reserve’s stance on curtailing monetary stimulus.

The benchmark FTSE 100 rose 0.3% on Tuesday and then fell 47 points (0.7%) to 7,048.

Anglo American, BHP, Rio Tinto, Antofagasta and Glencore fell between 1.4% and 2.5%, and a sharp rise in factory prices in China weighed heavily on the mining sector.

The share price of Rolls-Royce Holdings rose 0.5%. The aerospace company said it has appointed Anita Flue as a non-executive director and chair nominee.

Airlines easyJet rose 2.4%, Ryanair Holdings rose 2.2%, and British Airways owner IAG rose 3%.

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Minor drags FTSE 100 slides

Source link Minor drags FTSE 100 slides

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