FTSE 100 Slumps to 2012 Low in Global Rout; Anglo American Sinksby
U.K. stocks fell with a global equity slump that sent the FTSE 100 Index to a 2012 low amid plunging oil prices and mounting concern over prospects for global growth.
The FTSE 100 slid 1.9 percent to close at 5,804.10 in London, following global stocks lower after Chinese and European shares tumbled into a bear market, while U.S. equities headed for an August low. Energy-related companies and commodity producers tumbled, with Glencore Plc, BHP Billiton Plc and Antofagasta Plc dropping at least 6 percent. Anglo American Plc plunged 11 percent.
Shire Plc added 1.2 percent after Bank of America Corp. recommended buying the stock.
The U.K. benchmark has lost 7 percent since the start of the year amid concern a currency and stock market rout in China will hurt global growth. The broader FTSE All-Share Index lost 1.9 percent today, while Ireland’s ISEQ Index lost 2.1 percent.