FTSE 100 falls as weakness in commodities persists

A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain, August 24, 2015. REUTERS/Suzanne Plunkett

June 23 (Reuters) – UK’s FTSE 100 slipped on Thursday as commodity prices continued to slide amid growing recession risks, while investor focus was on a slew of data for clues on the strength of the economy and the path for monetary policy as inflation risks mount.

The blue-chip index (.FTSE) fell 0.5%, extending losses after shedding 0.8% on Wednesday, while the mid-cap FTSE (.FTMC) slipped 0.1%.

The heavyweight energy index (.FTNMX601010) fell 1.1% in morning trade as crude prices dived more than 2%, while miners (.FTNMX551020) slid 1.6% as fears over rising COVID-19 cases in China and aggressive U.S interest rate hikes pushed copper prices to a 16-month low.

UK Purchasing Managers’ Index (PMI) data, a monthly gauge of activity in the services and manufacturing industries, is due at 8:30 a.m. GMT, while key retail sales data is due on Friday.

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Reporting by Boleslaw Lasocki in Gdansk; Editing by Shailesh Kuber

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