FTSE 100 goes down, but revenues for miners limit deeper descend
On Wednesday, British stocks went down with stocks of travel-services provider TUI AG lower after a recent financial update. However, revenues for miners helped to curb a deeper loss for the market’s benchmark.
The FTSE 100 slid 0.2%, trading at 6,144.24. On Tuesday, the London Index finished 0.7% higher assisted by a surge in crude prices.
However, on Wednesday crude prices rebounded in the red ahead of the issue of weekly American supply data. Stocks of BP PLC dived 0.2%, Royal Dutch Shell PLC fluctuated around the flatline.
At the same time, bank stocks lost ground, with Royal Bank of Scotland PLC down 2%, while Standard Chartered PLC dipped 1.6%.
Shares of TUI AG surged 2.3% after its financial results. The given travel company reported the first half profit surge of 2.7% to about 6.79 billion euros. UBS told that it was quite below its own prediction of €7.3 billion as well as a consensus estimate of €7.2 billion.
As for home builders, Barratt Developments PLC stocks grew 0.1% after the home builder reaffirmed its year’s outlook and informed that forward sales were surged 9.7% in the first 19 weeks of 2016.