Earnings, China worries drag FTSE 100 to three-month low

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Nov 12 - London's benchmark index hit its lowest point in over three months on Tuesday, fuelled by concerns over Donald Trump potentially appointing a China hawk as the leading U.S. diplomat, along with some disappointing corporate updates.Industrial metal miners , fell 2.4% as copper prices hit a two-month low, on worries about the impact of incoming U.S. President Trump on the economy of top metals consumer China.

Personal Goods , led sectoral declines, falling 5.9%, as Burberry , extended declines by 6% from the previous session, after Reuters reported Moncler , is not in talks to take over the luxury brand. The medical equipment and services sector , gained 8%, boosted by a 20% surge in Convatec Group , after the medical products and technologies firm raised its full-year organic sales growth.

 

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FTSE indexes post weekly losses on mixed earnings, budget angstThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
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