FTSE 100 Declines As Miners And Housebuilders Drag
(RTTNews) - U.K. stocks traded lower on Monday, with mining stocks declining after data showed the Chinese economy grew just 0.8 percent in the June quarter, down from 2.2 percent in the first three months of 2023.
Investors were also reacting to data showing that U.K. house prices continue to fall this month due to rising mortgage costs.
The benchmark FTSE 100 was down 24 points, or 0.3 percent, at 7,410 after finishing marginally lower on Friday.
Miners Anglo American, Antofagasta and Glencore lost 2-3 percent while housebuilders Barratt, Persimmon and Taylor Wimpey all were down around half a percent.
Costain Group shares jumped 5 percent. The engineering and construction company announced that United Utilities Group PLC, a water service provider in U.K., has extended the contract for a further two years from May 2024 to May 2026. Shares of the latter were up 1.2 percent.
Ladbrokes-owner Entain declined 1.3 percent after it agreed to acquire U.S.-based Angstrom Sports for 122 million pounds ($159.5 million).
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