The UK’s FTSE 100 fell in early trading on Monday as heavyweight energy stocks eased tracking declining crude prices and lower copper prices pulled mining stocks lower, while the focus slowly shifted to the United States’ jobs data.
By 0803 GMT, the blue-chip FTSE 100 fell 0.5%, while the more domestically-focussed FTSE 250 midcap index added 0.1%.
The oil and gas sector fell 1.8% as crude oil prices fell amid persistent pressure from the OPEC+ decision and uncertainty over global fuel demand growth.
Industrial metal miners slipped 2.1% as copper prices fell on a stronger dollar.
FTSE 100 hits 6-week high as metal miners shine
The market will eye a bunch of U.S. employment data this week, with an October JOLTS number and November ADP National Employment report due during the week leading up to the more comprehensive November non-farm payrolls report on Friday.
Among individual stocks, Rolls-Royce gained 1.7% after J.P. Morgan upgraded the engineering company’s stock to “overweight” from “neutral”.
Comments
Comments are closed.