Glencore Plunging Another 9.6% Leads Decline in FTSE 100 Sharesby
The rout that’s affecting miners is showing no signs of abating, dragging U.K. shares down for a second time in three days.
A gauge tracking the nation’s commodity producers lost 3.1 percent, closing at its lowest level since 2009. the FTSE 100 Index fell 1.2 percent. Glencore Plc tumbled 9.6 percent after Goldman Sachs Group Inc. cut its stock-price estimate, based on the outlook for commodity markets. The miner has plummeted 67 percent this year.
The FTSE 100 erased intraday gains of as much as 0.4 percent and has fallen 2.3 percent this week. The broader FTSE All-Share Index dropped 1.1 percent, and Ireland’s ISEQ Index fell 2.9 percent.
Ferrexpo Plc climbed 2.9 percent after people familiar with the matter said it’s offering concessions to lenders to convince them to extend loans. Lloyds Banking Group Plc advanced 1.2 percent.