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FTSE 100 drops as commodity stocks weigh; Ultra Electronics jumps | Malay Mail

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LONDON, Aug 17 ― London's FTSE 100 yesterday recorded its worst session in nearly a month, as weakness in commodity prices hit heavyweight energy and mining shares, while Ultra Electronics jumped after it agreed to a takeover deal. The blue-chip FTSE 100 ended 0.9 per cent lower, dragged down by...

LONDON, Aug 17 ― London's FTSE 100 yesterday recorded its worst session in nearly a month, as weakness in commodity prices hit heavyweight energy and mining shares, while Ultra Electronics jumped after it agreed to a takeover deal.

“Some investors may be worried that BHP is selling at a bad time, owing to the uncertain economic outlook, forecasts in some quarters of US$100 -a-barrel oil in 2022, and the substantial number of oil and gas assets that are potentially up for sale,” Russ Mould, investment director at AJ Bell said in a note.

In the UK, investor focus this week will be on latest unemployment, retail sales, and inflation numbers.

 

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