Energy, mining stocks drag FTSE 100 lower on weak commodity prices

People look towards Canary Wharf from Greenwich Park in London, Britain December 27, 2020. REUTERS/Simon Dawson/File Photo

(Reuters) – London’s FTSE 100 fell on Monday, dragged down by heavyweight energy and mining stocks as concerns about commodity demand returned due to a rise in coronavirus infections.

The blue-chip FTSE 100 slipped 0.3% with BP, Anglo American, Glencore and Royal Dutch Shell being among the top drags.

The domestically focussed mid-cap index fell 0.3%.

Among stocks, Vecture gained 2.8% after tobacco company Philip Morris raised its bid for the drugmaker to 165 pence ($2.29) per share.

Deliveroo jumped 3.5% after its German rival Delivery Hero took a 5.09% stake in the British food delivery company.

Global recruiter PageGroup dropped 2% to the bottom of the mid-cap index even after it said it would spend 100 million pounds ($138.81 million) on shareholder returns as trading conditions improved in the first half.

Source: Read Full Article