MINERS AND HOMEBUILDERS DRAG UK STOCKS LOWER
On Monday, Britain's stock indexes saw slight declines, with miners facing pressure from weaker copper and iron ore prices, while homebuilders dipped following an investigation initiated by the UK antitrust watchdog into the sector.
The resource-heavy FTSE 100 index and the mid-cap FTSE 250 closed the session around 0.3% lower.
Industrial metal miners fell by 2.3%, reflecting decreases in copper and iron ore prices driven by a stronger dollar and increasing inventories in China, the top consumer of these metals. Homebuilders experienced a 1.5% decline after the Competition and Markets Authority announced an investigation into the British housebuilding market. The investigation aims to determine if there are fundamental issues within the sector hindering the construction of more homes and to assess whether there has been any sharing of commercially sensitive information.
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