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Business

British shares slip as energy, mining stocks weigh

2021 01 22T081728Z 1 LYNXMPEH0L0FA RTROPTP 4 REFINITIV M A LSE EU - Global Banking | Finance

(Reuters) – London-listed shares eased on Friday, as a dip in oil and copper prices hit energy and mining stocks, while investors also worried about the pace of an economic recovery following a coronavirus-driven recession.

The FTSE 100 index was down 0.4% by 0801 GMT and was set for its second straight week of declines. BP, Royal Dutch Shell and Anglo American were among the biggest drags on the commodity-heavy index. [O/R] [MET/L]

The domestically focussed mid-cap FTSE 250 index lost 0.1%, as data showed a gauge of confidence among British consumers slipped back in January because of worries sparked by widespread business restrictions due to lockdowns.

Fashion retailer Next lost 0.4%, after it pulled out of the bidding for brands owned by British tycoon Philip Green’s Arcadia Group as it was unable to meet the price expectations of the collapsed fashion chain.

(Reporting by Shivani Kumaresan in Bengaluru; Editing by Rashmi Aich)

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