The FTSE 100 Index Opens 0.47% Lower

The FTSE 100 traded lower on Thursday, extending its decline for a fourth consecutive session and underperforming other European markets, as weakness in commodity-related stocks outweighed stronger-than-expected UK economic data. UK GDP rose 0.4% in the second quarter, in line with forecasts, while monthly growth accelerated to 0.3% in June, beating expectations. However, falling commodity prices weighed heavily on the index. Shell and BP declined 0.4% and 1%, respectively, while miners suffered steeper losses as gold, silver and copper prices retreated. Antofagasta fell more than 5%, Rio Tinto dropped 4.5% and Anglo American declined 3%. Precious-metal miners Fresnillo and Endeavour also lost more than 3% each. Meanwhile, Entain reported stronger-than-expected operational profitability and reaffirmed that it remains comfortable with its full-year expectations.

The FTSE 100 Index is losing 51 points. Losses were led by Antofagasta (-5.05%), Rio Tinto (-4.56%) and Fresnillo (-3.78%). Offsetting the fall, top gainers were Scottish Mortgage (1.56%), Aviva (1.28%) and Spirax-Sarco Engineering (1.11%).

The FTSE 100 Index fell 23 points or 0.22 percent on Wednesday to close at 10821 points. Leading the losses are Burberry (-4.57%), Marks & Spencer (-3.78%) and Relx (-2.95%). Top gainers were Admiral (2.90%), Fresnillo (2.75%) and 3i (2.46%).