Once again the FTSE was left lagging behind its peers, the UK index tumbling after the bell thanks to the latest reversal in its commodity sector.
Falling half a percent, the FTSE ducked under 7550, the index now having undone most of the growth managed either side of the weekend. As has been the case of late, the brunt of the decline came from its trade war-fearing oil and mining stocks; BP (LON:BP) and Shell (LON:RDSa) shed 0.6% and 0.5% respectively, while the likes of Rio Tinto (LON:RIO), BHP Billiton (LON:BLT), Anglo American (LON:AAL) and Antofagasta (LON:ANTO) were down anywhere between 0.7% and 2.6%.
The pound, meanwhile, couldn’t quite build on yesterday’s gains over the damaged dollar. Instead cable slipped 0.1%, just about sending sterling under $1.29 against the greenback. Whether or not the dollar’s stint in the doghouse following Donald Trump’s criticism of the Federal Reserve is over, however, is unclear, especially with the President being dealt the double of blow of Michael Cohen and Paul Manafort’s legal issues.
In the eurozone things were slightly different. Though nothing special, the DAX and CAC did manage to push a bit higher, climbing 0.2% and 0.1% respectively. And yeah, that’s not great, but it is certainly better than what’s going on with the FTSE.
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