Home Commodities Febrile FTSE 100 edges lower as commodity stocks weigh

Febrile FTSE 100 edges lower as commodity stocks weigh

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The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville

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  • FTSE 100 down 0.1%, FTSE 250 adds 0.5%

June 17 (Reuters) – London’s blue chip index was on course for its third-straight weekly loss, with oil majors and miners dragging it lower on Friday as commodity prices slipped on sluggish growth worries.

The FTSE 100 index (.FTSE) was down 0.1% by 0717 GMT. BP (BP.L) and Shell (SHEL.L) fell 1.6% and 1.3%, respectively, while industrial miners (.FTNMX551020) dipped 0.8%.

But a weaker pound gave the export-heavy index some support.

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The domestically focused mid-cap FTSE 250 index (.FTMC) advanced 0.5%, after closing at its lowest level since March 2022 on Thursday.

Both the indexes were set for a third straight week of falls as investors grew wary about an economic slowdown after monetary policy tightening by global central banks.

Tesco (TSCO.L) fell 0.3% after the Britain’s biggest retailer said it was seeing early indications of changing customer behaviour due to surging inflationary pressures that had made the market “incredibly challenging”. read more

Shares of rival Sainsbury’s (SBRY.L) edged 0.1% lower.

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Reporting by Devik Jain in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

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