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The Markets
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Energy

Mining and oil giants drag FTSE lower as market mood sours again

London-listed mining and oil stocks were among the fallers on Friday as commodity prices pulled back across metals and crude oil markets.

Copper-focused Antofagasta PLC (LSE:ANTO) led declines, falling 4.6%, while Glencore PLC (LSE:GLEN) dropped 3.4%. Anglo American PLC (LSE:AAL) was down 2% and Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) lost 1.7%.

Comex copper was down 0.9% to $4.001 per pound. Iron ore prices in China eased 0.5%.

Precious metals producers also weakened. Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) fell 3.7% and Fresnillo PLC (LSE:FRES) declined 3.6% on the FTSE 100, while on the 250, Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) sank 5.8%.

They were tracking lower gold and silver prices. Spot gold slipped 1% to $2,037.36 per ounce, and silver dropped 3.7% to $24.80 per ounce.

Oil prices also moved sharply lower. WTI crude fell 2.45% to $57.56, while Brent crude declined 2.12% to $62.04.

That saw shares in Shell PLC (LSE:SHEL, NYSE:SHEL) and BP PLC (LSE:BP.) both drop 1.5%.

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