Mining stocks weigh on FTSE 100

Business | 17 Jun 2021 4:37 pm

Miners knocked London's FTSE 100 index off 16-month highs on Thursday as a hawkish turn by the U.S. Federal Reserve hit commodity prices, although Britain's plans to ease travel restrictions allowed airline shares to buck the trend, Reuters reports.

The blue-chip index fell by 0.3 percent and was on track for its biggest percentage fall in two weeks.

Base and precious metal miners slid by 1.3 percent and 2.4 percent respectively, as commodity prices slipped after the Fed signalled it could raise rates earlier than expected.

Large dollar-earning consumer staples companies Unilever, Diageo and Reckitt Benckiser Group fell by between 0.5 percent and 1 percent.



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