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Glencore fall hits mining stocks as FTSE steadies

Glencore fall hits mining stocks as FTSE steadies
FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls -
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PETER NICHOLLS(Reuters)
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(Reuters) – London’s main stock market index held steady on Wednesday after a run of six losing sessions triggered by worries over the U.S.-China trade dispute, although commodities trader Glencore hit an almost 3-year low after poor first half results.

Glencore’s almost one-third drop in core profit, allied to lower copper prices, pulled mining firms lower. That was offset by gains in healthcare and consumer goods stocks, leaving the FTSE 100 <.FTSE> blue chip index largely unchanged.

The mid-cap FTSE 250 <.FTMC> rose 0.3% by 0706 GMT, helped by a post-earnings jump in Ultra Electronic <ULE.L>.

(Reporting by Shashwat Awasthi in Bengaluru; editing by Patrick Graham)

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