FTSE 100’s winning streak loses steam
On Tuesday, British shares sagged, pulling back after eight consecutive soars, though revenues for miners limited the loss for the benchmark FTSE 100.
The FTSE 100 dropped 0.3%, trading at 6,926.09, with only the mining as well as energy sectors edgeing up.
On Monday, the benchmark grew 0.4%, trading at 6,941.19, perhaps, the strongest close since early June 2015, as Dow Jones data states. The index had surged for eight straight sessions, perhaps, the longest string of gains since October 2015.
Mining stocks traded higher following a financial report from BHP Billiton Ltd, which is the world’s largest miner by market value. Its stocks turned higher to earn 1.7% after losing ground at the beginning of the trading session.
Financial experts point out that BHP’s underlying revenue of $1.2 billion topped hopes for $1.1 billion.
Antofagasta PLC stocks surged 3.6% after the copper producer posted a drop in first-half net revenue to $88.1 million, though reaffirmed its expectations for higher output this year.