FTSE 100 Falls for 6th Day; Glencore Bucks Commodity Stock SlumpTrista Kelley
Commodity stocks weighed on U.K. stocks, dragging the FTSE 100 lower.
One exception was Glencore Plc, which rallied 3.6 percent even as industry peers fell, after investor Harris Associates LP increased its holding. The 4.5 percent stake, worth about $1.6 billion, now makes Harris Glencore’s fourth-largest shareholder. Shire Plc snapped a five-day losing streak to add 1.7 percent.
Antofagasta Plc led declines, with Anglo American Plc, Persimmon Plc, BHP Billiton Plc and Rio Tinto Group also falling. The Bloomberg Commodity Index extended a 13-year low reached yesterday.
The FTSE 100 lost 0.4 percent at the close in London. The gauge slid 2.5 percent last week as commodity producers extended losses.
The FTSE 250 Index added 0.1 percent, while Ireland’s ISEQ Index rose 0.8 percent.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- The Two Words That Will Help Get an Airline Upgrade Over the Phone
- Stocks Turn Lower, Dollar Rises After Fed Minutes: Markets Wrap
- Risky Crypto Bet Dents Dennis Gartman's Retirement Account
- Apple in Talks to Buy Cobalt Directly From Miners
- Brighter U.S. Growth Outlook Emboldens Fed on Rate-Hike Course