FTSE 100 movers: Utilities, miners in the red
By Michele Maatouk
Date: Monday 17 Jun 2024
(Sharecast News) - London's FTSE 100 was down 0.2% at 8,127.26 in afternoon trade on Monday.
Utilities were under the cosh, with Severn Trent, SSE and United Utilities all lower.
Miners Glencore and Rio Tinto also lost ground as copper prices fell.
James Harte at Tickmill Group said: "Overnight, weaker-than-forecast Chinese industrial figures have added to bearish sentiment in the metal. Industrial production was seen sliding to 5.6% last month, down from 6.7% prior and below the 6.2% reading the market was looking for.
"A recent downturn in Chinese factory data has been a key driver of the weakness we've seen in copper prices recently. Fears of a developing slowdown in demand in China, the largest global copper consumer, has seen the futures market shedding around 15% recently."
FTSE 100 - Risers
St James's Place (STJ) 532.00p 2.31%
B&M European Value Retail S.A. (DI) (BME) 473.10p 2.18%
Entain (ENT) 669.60p 2.07%
Legal & General Group (LGEN) 228.70p 1.78%
Flutter Entertainment (DI) (FLTR) 14,075.00p 1.73%
Beazley (BEZ) 663.50p 1.38%
Intermediate Capital Group (ICG) 2,220.00p 1.28%
Vodafone Group (VOD) 69.70p 1.07%
Admiral Group (ADM) 2,576.00p 0.98%
Barclays (BARC) 204.05p 0.92%
FTSE 100 - Fallers
Convatec Group (CTEC) 248.20p -2.21%
Severn Trent (SVT) 2,422.00p -2.10%
Melrose Industries (MRO) 588.60p -2.00%
Tesco (TSCO) 305.60p -1.48%
Glencore (GLEN) 448.10p -1.42%
SSE (SSE) 1,742.00p -1.41%
United Utilities Group (UU.) 1,023.00p -1.30%
Croda International (CRDA) 4,074.00p -1.28%
Rio Tinto (RIO) 5,157.00p -1.19%
Land Securities Group (LAND) 615.00p -1.13%
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