U.K. Shares Decline as Glencore Drags Commodity Producers Lowerby
U.K. shares fell for the third time in four days, with miners among the worst performers, as Glencore Plc reported worse-than-estimated first-half profit.
Glencore dropped 3.1 percent after posting a 66 percent drop in earnings on lower raw-materials prices. Anglo American Plc retreated 3.1 percent, while BHP Billiton Ltd. and Rio Tinto Group lost 2.5 percent. WPP Plc bucked the trend, rising 1.9 percent, after the world’s largest advertising company said favorable currency translations helped boost profit by 15 percent in the six months to end-June.
The FTSE 100 Index slipped 0.5 percent to 6,835.78 at the close of trading in London. A surge in homebuilders yesterday helped the index snap a two-day streak of losses. The FTSE 250 Index of mid-cap shares rose 0.2 percent today. The regional Stoxx Europe 600 Index gained 0.4 percent.