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London Stock Exchange Falls 0.73%, Dragged Down by Miners and Centrica
🇵🇾 Paraguay /Economy & Trade

London Stock Exchange Falls 0.73%, Dragged Down by Miners and Centrica

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

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  • The London Stock Exchange's FTSE 100 index fell 0.73% to 10,639.17 points.
  • Centrica, an electricity and gas supplier, led the decline with a 10.23% drop after reporting poor quarterly results and announcing 1,300 job cuts.
  • Mining companies Fresnillo, Endeavour, and Antofagasta also saw significant losses, while BP rose on higher oil prices.

London – The London Stock Exchange experienced a downturn on Thursday, with its main index, the FTSE 100, closing down 0.73%. The index lost 77.80 points, settling at 10,639.17. The secondary index, the FTSE 250, saw a steeper decline of 1.25%, ending the day at 23,627.33 points.

The sharpest fall was recorded by Centrica, the electricity and gas supplier, which plummeted 10.23%. This significant drop followed the company's announcement of poor quarterly results and the immediate decision to lay off 1,300 employees.

Several major mining companies also contributed to the market's decline. Fresnillo (-6.13%), Endeavour (-4.78%), and Antofagasta (-4.61%) were among the day's biggest losers. Investors opted for sell-offs after these same stocks had closed higher on Wednesday.

Conversely, investment funds Segro (6.50%) and 3I Group (4.78%) were among the day's gainers. The oil company BP also saw a rise of 3.08%, benefiting from the surge in oil prices. Brent crude surpassed $100 per barrel for the first time since May amid renewed tensions in Iran.

DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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