FTSE 100 opens flat as homebuilders counter miners’ drag
The exporter-heavy FTSE 100 index opened flat on Thursday as declines in miner shares after weak China data were mitigated by gains in homebuilder stocks. The blue-chip FTSE 100 index was flat in early trade, while the mid-cap index was up 0.1%. Industrial metal miners were down 0.9%, tracking lower metal prices after data showed China’s manufacturing activity contracted for a fifth straight month in August. Precious metal miners fell 1.7%, leading sectoral declines. Weighing further on the miners were Glencore and Endeavour Mining, down 4.8% and 2.0% respectively as both stocks traded ex-dividend. Homebuilders rose 0.7% extending gains for the third straight day. Frasers shares rose 0.7% after the British sportswear group raised its stake in online fashion seller Boohoo to 9.1% from 7.8%, a regulatory filing showed. The U.S. Food and Drug Administration issued warnings to three infant formula makers including Reckitt Benckiser Group’s Mead Johnson Nutrition to correct their manufacturing processes to better catch bacterial contamination. Shares of Reckitt were down 1.2%.
Karobar
The exporter-heavy FTSE 100 index opened flat on Thursday as declines in miner shares after weak China data were mitigated by gains in homebuilder stocks.
The blue-chip FTSE 100 index was flat in early trade, while the mid-cap index was up 0.1%.
Industrial metal miners were down 0.9%, tracking lower metal prices after data showed China’s manufacturing activity contracted for a fifth straight month in August.
Precious metal miners fell 1.7%, leading sectoral declines.
Weighing further on the miners were Glencore and Endeavour Mining, down 4.8% and 2.0% respectively as both stocks traded ex-dividend.
Homebuilders rose 0.7% extending gains for the third straight day.
Frasers shares rose 0.7% after the British sportswear group raised its stake in online fashion seller Boohoo to 9.1% from 7.8%, a regulatory filing showed.
The U.S. Food and Drug Administration issued warnings to three infant formula makers including Reckitt Benckiser Group’s Mead Johnson Nutrition to correct their manufacturing processes to better catch bacterial contamination.
Shares of Reckitt were down 1.2%.
