U.K. Stocks Fall, Posting Monthly Decline, as Miners Retreatby
U.K. stocks declined as trading resumed following Monday’s holiday, with the FTSE 100 Index posting its first monthly decline in four.
Glencore Plc and BHP Billiton Ltd. dragged miners lower with decreases of at least 2.1 percent. Tullow Oil Plc lost 3.2 percent, weighing most on a gauge of energy companies as investors await Thursday’s OPEC meeting on production.
The FTSE 100 slid 0.6 percent to 6,230.79 at the close of trading in London. It had been on course for a monthly gain until today, when late losses dragged it down 0.2 percent for May. The benchmark had been buoyed by commodity and oil shares in recent weeks as crude rallied and optimism grew that the U.S. economy is strong enough to withstand higher interest rates.
The FTSE All-Share Index dropped 0.5 percent today, while Ireland’s ISEQ Index fell 0.3 percent.