The FTSE 100 Index Closes 0.70% Lower

The FTSE 100 Index decreased 76 points or 0.70 percent on Thursday to close at 10757 points. The decline was led by Antofagasta (-6.78%), Fresnillo (-5.07%) and Rio Tinto (-4.72%). On the upside, the strongest performers were Lion Finance Group (2.67%), British American Tobacco (2.25%) and Persimmon (2.01%).

The FTSE 100 fell more than 0.5% 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 1.2% and 1.7%, respectively, while miners suffered steeper losses as gold, silver and copper prices retreated. Antofagasta fell more than 6%, Rio Tinto dropped 4.7% and Anglo American declined 3.5%. Precious-metal miners Fresnillo (-5.1%) and Endeavour (-4.2%) also fell sharply. Meanwhile, Entain reported stronger-than-expected operational profitability and reaffirmed that it remains comfortable with its full-year expectations.

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.