FTSE 100 drops to over 1-week low as retail, energy stocks drag

  • The blue-chip FTSE 100 index dropped 0.3% to its lowest since Aug. 6, with retailer Unilever, insurer Prudential and oil major BP among the top drags
17 Aug, 2021

London's FTSE 100 fell on Tuesday, dragged down by heavyweight retail, insurance and energy stocks, although employment numbers highlighting a steady UK economic recovery helped limit losses.

The number of employees on British company payrolls rose by 182,000 in July from June, moving closer to their pre-pandemic level as the economy recovers from its coronavirus lockdowns, tax data showed.

FTSE 100 drops

The blue-chip FTSE 100 index dropped 0.3% to its lowest since Aug. 6, with retailer Unilever, insurer Prudential and oil major BP among the top drags.

The domestically focussed mid-cap index fell 0.5% with travel stocks declining the most.

Online trading platform Plus500 jumped 7.7% to the top of the mid-cap index after it forecast annual revenue "significantly ahead" of analysts' estimates.

UK-listed shares of miner BHP Group jumped 9.2% to the top of the FTSE 100 after the company posted its best annual profit in nearly a decade and said it would sell its petroleum assets to Woodside Petroleum.

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