Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Investments and investor services

Stocks dip after Chinese shares nosedive

Indices in London, Paris and Frankfurt all head south

European markets began on the back foot on Monday after Chinese stocks put in their worst showing in about three weeks.

The FTSE 100 Index shed 18 points to 6561 while Germany's DAX dropped 143 points and the CAC-40 in Paris slipped 81 points.

The Shanghai Composite dipped 8% after a 13-month low manufacturing PMI figure last week.

Analysts said the downturn would inevitably affect oil and natural resources stocks.

Spreadex analyst Connor Campbell said: "Of course, this Chinese choppiness brings with it more headaches for the already dizzy commodities sector; Brent Crude is remaining firm near its 3-month lows, whilst copper suffered its latest undignified decline."

BP (LON:BP.) fell 1.35p to 393.35p but Royal Dutch Shell (LON:RDSB) added 11p to 1,781p after Brazilian regulators approved its purchase of BG Group (LON:BG.), whose shares inflated 4.5p to 1,040p.

Chilean copper miner Antofagasta (LON:ANTO) lost its shine by 11p to 578p, but other miners were making gains. Glencore (LON:GLEN) rose 1.15p to 211.3p, Rio Tinto (LON:RIO) climbed 11.5p to 2,412p and BHP Billiton (LON:BLT) advanced 20.5p to 1,144p.

Friday saw the major US benchmarks on the skids as investors mulled underwhelming results from some heavy hitters such as Apple, Caterpillar and IBM.

Back in London, a busy week is in prospect, with the oil majors and the banks set to report, along with a host of FTSE 100 companies.

Reckitt Benckiser (LON:RB.) kicked off the flurry of updates with news of a 5% rise in first half net revenue, helped by demand for influenza treatments. Shares were up 103p at 6,011p.

Ryanair (LON:RYA) flew €0.09 lower to €12.18 as the Irish budget airline posted higher first quarter profits but said it had little idea about where prices were going in the second half of the year.

Ariana Resources (LON:AAU) dropped 0.06p to 0.95p as the Anglo-Turkish gold explorer and developer raised £1mln in a placing to fund development of its Red Rabbit project in Turkey.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK