Miners weigh on the FTSE 100; Unilever’s top boost

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Pedestrians exit and enter the London Stock Exchange in London, Britain August 15, 2017. REUTERS / Neil Hall / File Photo

  • FTSE 100 down 0.5%, FTSE 250 down 0.4%

October 21 (Reuters) – London’s FTSE 100 index fell on Thursday as miners slipped on growing problems in China’s real estate sector and investors worried about the outlook for rate hikes, while Unilever profited strong growth in quarterly sales.

The blue-chip FTSE 100 (.FTSE) fell 0.5% at 07:09 GMT, with mining companies Rio Tinto (RIO.L), BHP Group (BHPB.L) and Anglo American (AAL.L) down from 1.5% to 2.5%.

Despite positive earnings updates, miners (.FTNMX551020) were hit by further concerns over heavily indebted Chinese real estate developer China Evergrande Group (3333.HK) after announcing it abandoned a $ 2.6 billion sale. dollars from a stake in an affiliate and that he had made no progress on other sales. Read more

Global mining company Anglo American (AAL.L) fell 1.9% despite news of a 2% increase in overall production in the third quarter. Read more

The domestically focused mid-cap index (.FTMC) fell 0.4%, with consumer services stocks among the worst performers.

In corporate news, Renishaw PLC (RSW.L) rose 6.8% after reporting an almost 146% increase in profits.

Unilever (ULVR.L) gained 0.9% after the consumer goods giant exceeded its sales growth forecast for the third quarter and maintained its profit margin guidance for the full year. Read more

Reporting by Bansari Mayur Kamdar; Editing by Subhranshu Sahu

Our Standards: Thomson Reuters Trust Principles.

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