FTSE 100 Joins Global Selloff
The FTSE 100 fell 0.5% on Tuesday, tracking a global equity selloff as losses among US chipmakers and uncertainty ahead of the US midterm elections weighed on investor sentiment. Mining stocks were among the biggest drags, with Antofagasta down more than 3%, while Anglo American and Rio Tinto also declined as copper prices weakened. Precious metal miners also came under pressure as gold and silver prices fell. Gold hovered near a one-year low, pressured by rising oil prices and doubts over the prospects for an end to the US-Iran conflict. Fresnillo dropped 3%, while Endeavour lost 2.3%. Associated British Foods fell more than 2.5% after reporting lower annual profit, reflecting weaker Primark margins and continued difficulties in its sugar business, although it maintained plans to separate Primark by the end of 2027. Coca-Cola Europacific Partners slipped around 2% despite reporting third-quarter revenue in line with analyst expectations and reaffirming its guidance.
The FTSE 100 fell 0.5% on Tuesday, tracking a global equity selloff as losses among US chipmakers and uncertainty ahead of the US midterm elections weighed on investor sentiment. Mining stocks were among the biggest drags, with Antofagasta down more than 3%, while Anglo American and Rio Tinto also declined as copper prices weakened. Precious metal miners also came under pressure as gold and silver prices fell. Gold hovered near a one-year low, pressured by rising oil prices and doubts over the prospects for an end to the US-Iran conflict.
Fresnillo dropped 3%, while Endeavour lost 2.3%. Associated British Foods fell more than 2.5% after reporting lower annual profit, reflecting weaker Primark margins and continued difficulties in its sugar business, although it maintained plans to separate Primark by the end of 2027. Coca-Cola Europacific Partners slipped around 2% despite reporting third-quarter revenue in line with analyst expectations and reaffirming its guidance.