Quantcast

Mining shares lead London's FTSE 100 lower; Bunzl drops on weak Q1


Shutterstock photo


(For a live blog on European stocks, type LIVE/ in an Eikonnews window)

* FTSE 100 down 0.3 pct

* FTSE 250 dip 0.1 pct

April 17 (Reuters) - Britain's blue-chip index retreated onWednesday from its six-month high after a Brazilian courtallowed Vale to resume operations at a major mine, potentiallyincreasing iron ore supplies and lowering its price.

The FTSE 100 .FTSE , which had climbed to its highest sinceearly October the day before, was 0.3 percent lower by 0710 GMT.Midcaps fell 0.1 percent.

Sentiment was sour despite a rise in Asian shares afterChinese economic reports beat expectations, a sign thatBeijing's stimulus may finally be paying off in the world'ssecond-largest economy. urn:newsml:reuters.com:*:nL3N21Z0UF

Mining shares .FTNMX1770 lost 2 percent and were on coursefor their worst day in six weeks after reports that Vale SAVALE3.SA expected to resume operations at its Brucutu minewithin 72 hours urn:newsml:reuters.com:*:nL1N21Y0XK.

London-listed shares in Rio Tinto RIO.L fell nearly 3percent and BHP GroupBLT.L , the world's biggest miningcompany, gave up 2.3 percent after cutting its target for ironore output following a tropical cyclone. urn:newsml:reuters.com:*:nL3N21Y4XA

Business supplies distributor BunzlBNZL.L fell 11.7percent after reporting a slowdown in quarterly growth. Thegrocery and retail business was sluggish in its biggest market,North America. The decline put Bunzl on course for its worst dayin nearly three decades.

Among midcaps, Telecom PlusTEP.L slipped 3 percent afterwarning that full-year profit would be lower than expected.Revenue in the fourth quarter partly hurt by a price cap imposedby Britain's energy regulator. urn:newsml:reuters.com:*:nL3N21Z1SN

London-listed shares of MediclinicMDCM.L rose more than 8percent. The company forecast annual core profit would fall inline with the market expectations. urn:newsml:reuters.com:*:nL5N21Z1G4

Pendragon PDG.L led losses in the small-cap index .FTSC ,dropping almost 8 percent after it said it would review itsoperational and financial prospects under its new managementafter margin pressures led it to report a quarterly loss. (Reporting by Muvija M and Shashwat Awasthi in Bengaluru,editing by Larry King) ((Muvija.M@thomsonreuters.com; within U.S. +1 646 223 8780,outside U.S. +91 80 6749 3638; Reuters Messaging:muvija.m.thomsonreuters.com@reuters.net))

(( For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L

* For related news, click on - * UK hot stocks: [HOT and GB] Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EUTokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/

* For company prices, click on - * Company directory: UKEQ By sector: FTAX

* For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR ))






This article appears in: Politics , Economy , World Markets , US Markets , Stocks




More from Reuters

Subscribe






See Reuters News













Research Brokers before you trade

Want to trade FX?