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FTSE 100 drops to over 1-week low as retail, energy stocks drag

FTSE 100 drops to over 1-week low as retail, energy stocks drag
FTSE 100 drops to over 1-week low as retail, energy stocks drag   -   Copyright  Thomson Reuters 2021
By Reuters

– London’s FTSE 100 fell on Tuesday, dragged down by heavyweight retail, insurance and energy stocks, although employment numbers highlighting a steady UK economic recovery helped limit losses.

The number of employees on British company payrolls rose by 182,000 in July from June, moving closer to their pre-pandemic level as the economy recovers from its coronavirus lockdowns, tax data showed.

The blue-chip FTSE 100 index dropped 0.3% to its lowest since Aug. 6, with retailer Unilever, insurer Prudential and oil major BP among the top drags.

The domestically focussed mid-cap index fell 0.5% with travel stocks declining the most.

Online trading platform Plus500 jumped 7.7% to the top of the mid-cap index after it forecast annual revenue “significantly ahead” of analysts’ estimates.

UK-listed shares of miner BHP Group jumped 9.2% to the top of the FTSE 100 after the company posted its best annual profit in nearly a decade and said it would sell its petroleum assets to Woodside Petroleum.