FTSE 100 Falls With Miners; Anglo American Sinks on Dividend Cutby
U.K. stocks fell, weighed down by a decline in mining and oil stocks on signs of a demand slump in China that’s helped drive energy and commodity prices to multiyear lows.
Anglo American Plc scrapped its dividend for the first time since 2009, sending the shares tumbling 8.9 percent. BHP Billiton Ltd. declined 2.9 percent.
J Sainsbury Plc snapped a seven-day losing streak, rallying 3.9 percent, after Stifel Financial Corp. recommended buying the shares. Peer Tesco Plc also gained, while Wm Morrison Supermarkets Plc increased after HSBC Holdings Plc. raised its rating on the stock to hold from reduce. Airlines advanced, with EasyJet Plc and IAG SA up at least 1.2 percent.
The FTSE 100 Index declined 0.5 percent to 6,190.76 at 9:19 a.m. in London, The number of shares changing hands was 20 percent lower than the 30-day average. The broader FTSE All-Share Index dropped 0.5 percent, while Ireland’s ISEQ Index lost 0.7 percent.