FTSE 100 Down 0.5%; Banks, Miners Among Notable Losers
(RTTNews) - After edging higher in early trades, the UK stock market's benchmark index FTSE 100 slipped into negative territory Wednesday morning, weighed down by losses in mining and banking sectors.
The mood in the market remained cautious amid renewed tensions in the Middle East following the U.S. and Iran engaging in fresh attacks and counter-attacks.
The FTSE 100, which edged up to 10,259.28 in early trades, was down 50.72 points or 0.5% at 10,176.61 a little over half an hour before noon.
Miners Endeavour Mining (down 2.6%), Glencore (down 1.8%), Antofagasta (down 1.6%), Fresnillo (down 1.4%) and Anglo American Plc (down 1.3%) are notably lower on selling pressure.
Among bank stocks, HSBC Holdings is down 2.5%, Standard Chartered is lower by 2% and Lloyds Banking Group is down 1%.
Among other notable losers, Relx is down 3.6%, Experian is drifting down 2.6% and Polar Capital Technology Trust is declining by about 2.5%.
LSEG, Airtel Africa, The Sage Group, Pearson, St. James's Place, Burberry Group, Diageo and AstraZeneca are also down in negative territory.
British travel retailer WHSmith was down by as much as 14% despite recovering some lost ground. The stock fell after the company cut its annual profit forecast for the second time this year.
Metlen Energy & Metals climbed more than 3%. DCC gained 2.1%, while Land Securities, Associated British Foods, Intercontinental Hotels Group, British Land, Games Workshop, Admiral Group, Tesco, Segro and Sainsbury (J) advanced 1%-1.7%.
