Nov 21 (Reuters) – The FTSE 100 slipped on Monday, dragged by weakness in commodity-linked stocks, as COVID-19 curbs in top metals consumer China and a stronger dollar weighed on the global mood.
The blue-chip FTSE 100 (.FTSE) fell 0.3%, after notching its strongest close in over two months on Friday.
UK’s energy sector (.FTNMX601010) slipped 0.6% on the back of falling oil prices , as a slew of COVID-related curbs in China sparked demand fears.
Hawkish comments from Federal Reserve officials have helped the dollar stabilise after its sharp losses earlier in November.
Meanwhile, industrial metal miners (.FTNMX551020) shed 1.8% as worries about slowing demand from the world’s second largest economy hit metal prices including those of copper.
Energy and materials stocks combined weigh more than 25% on the FTSE 100.
The more domestically focused FTSE 250 midcaps (.FTMC) lost 0.3%.
Among individual stocks, Virgin Money (VMUK.L) gained nearly 13% after the lender reported a 43% increase in full-year profit as Bank of England rate hikes lifted its finances ahead of a likely prolonged economic downturn.
Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil
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