Oil in addition to mining stocks drag FTSE 100 lower

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AFP

The UK’s main share index fell to a six-week low on Wednesday, weighed down by falls in mining in addition to oil stocks.

The FTSE 100 dropped 37 points, or 0.5%, to 7,377 points by lunchtime, its lowest level since early October.

The biggest losers were mining firms including Glencore in addition to Anglo American, along with oil giants BP in addition to Shell.

the item comes after further falls in global oil in addition to commodity prices, with Brent crude extending its losses in addition to falling more than 1% to $61.40 a barrel.

Oil prices also fell heavily on Tuesday after warnings by the International Energy Association of slowing demand in addition to rising stockpiles.

Royal Dutch Shell shares were down 1.4% at £24.01, while BP was 1.2% lower at 496.95 pence.

Glencore, Rio Tinto in addition to Anglo American were all down by more than 2% on the back of falling metal prices.

although gold miner Fresnillo was one of the biggest winners on the index – rising 1.8% – after gold prices edged 0.3% higher to $1,284.30 per ounce.

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