U.K. Stocks Plunge to Lowest Since 2012 as BHP, Glencore Sinkby
A slump in miners sent Britain’s stocks to their biggest three-day selloff since August.
The FTSE 100 Index dropped 1 percent to its lowest level since November 2012 at the close of trading in London, reversing gains of as much as 0.9 percent. Anglo American Plc, BHP Billiton Ltd. and Glencore Plc dropped more than 5.8 percent after a measure tracking U.K. miners surged the most since 2009 in four days. A gauge tracking volatility expectations for the FTSE 100 jumped to its highest level since September.
Among stocks that rose, WPP Plc climbed 3.4 percent after U.S. peer Omnicom Group Inc. reported profit that beat estimates.
The FTSE 100 has lost 9.8 percent this year, less than the broader European market. The FTSE All-Share Index also fell on Tuesday, and Ireland’s ISEQ Index completed its biggest six-day slump since 2011. The volume of FTSE 100 shares changing hands was almost 40 percent greater than the 30-day average.