British stocks drop amid slumping miners
On Friday, British stocks tumbled for a second day, following pessimistic sentiment in the European Union, where new fears of another vehicle emission-test scandal as well as mixed earnings brought markets lower.
The FTSE 100 index closed -0.9%, trading at 6,323.29, thus neutralizing its weekly revenue and setting it on track for its 0.3% tumble this week.
Once again mining stocks led decliners. They did it after a wavy few days in the metals markets, where huge swings have been observed. On Friday, the vast majority of metals leapt, coming back from Thursday’s descends.
Stocks of Rio Tinto PLC closed -3.5%, Anglo American PLC lacked 2.9%, while Glencore PLC 3.7%.
The broader British market tracked losses in the EU, where the Stoxx Europe 600 index dipped 0.7%. Additionally, car makers led the descends in Europe amid worries that the emissions scandal could touch more car makers, when Daimler AG told it’s scrutinizing its American emissions certification process.
Furthermore, stocks of Standard Chartered PLC dipped 0.8%, when DBS Group Holding Ltd. Informed it’s not going to acquire its UK-based lender.