JITTERS over a slowdown in the global economy pulled industrial stocks lower yesterday, taming gains on
The capital's premier index edged 0.09 per cent higher to 7,270.51 points, while the domestically-focused midcap FTSE 250 index, which is more aligned with the health of the
Scorching inflation and rising business costs are crimping economic activity, sending a chill through global output.
Investors are also worried central banks will tip their respective economies into recession by raising rates rapidly to tame historic price rises. The
Those concerns over a reduction in global demand weighed on FTSE 100- listed commodities producers.
BP and Shell, which represent an enormous share of the index meaning movements in their share price exert a strong influence over its direction, both fell more than 1.05 per cent.
Brent and WTI, the global oil price benchmarks, each dropped around two per cent, hitting the oil mega caps' shares.
Miners Glencore and Fresnillo all placed near the bottom of the FTSE 100 performance table. Prices for commodities such as copper have tumbled in recent months.
(c) 2022 City A.M., source