London’s FTSE 100 was down 1.4% at 7,068.65 in afternoon trade on Thursday.
Anglo American was the biggest faller on the index as it traded without entitlement to the dividend. Phoenix Group, Abrdn and M&G also slumped as they went ex-div.
Miners more generally were under the cosh as commodity prices fell, with Antofagasta and Glencore both lower.
Antofagasta was also in focus after the Chilean copper miner cut its full-year production guidance as interim profits rose on the back of higher copper prices.
Luxury fashion brand Burberry slid after Chinese Premier Xi Jinping threatened to cap high incomes and redistribute wealth. Burberry is heavily dependent on demand from China. Other stocks in the same boat such as France’s Kering and LVMH also suffered heavy losses.
Broadcaster ITV was weaker as it said it had concluded an investment in Feel Holdings, a UK-based digital health start-up. ITV has agreed to subscribe for up to £3m convertible loan notes in Feel in three tranches. It said Feel will begin its tailored media campaign across the broadcaster’s channels later this year.
On the upside, Polymetal was a high riser as gold prices gained.
FTSE 100 – Risers
Polymetal International (POLY) 1,513.00p 1.48%
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,705.00p 0.98%
Bunzl (BNZL) 2,682.00p 0.86%
National Grid (NG.) 976.80p 0.83%
SSE (SSE) 1,652.50p 0.79%
Smith & Nephew (SN.) 1,404.00p 0.61%
Weir Group (WEIR) 1,641.50p 0.43%
Fresnillo (FRES) 833.00p 0.24%
Admiral Group (ADM) 3,666.00p 0.05%
Intertek Group (ITRK) 5,244.00p 0.04%
FTSE 100 – Fallers
Anglo American (AAL) 2,912.50p -9.98%
Burberry Group (BRBY) 1,829.50p -5.74%
Phoenix Group Holdings (PHNX) 633.40p -5.12%
Abrdn (ABDN) 262.70p -4.44%
M&G (MNG) 212.10p -4.29%
BP (BP.) 290.45p -4.03%
Imperial Brands (IMB) 1,530.50p -3.68%
Antofagasta (ANTO) 1,421.50p -3.33%
ITV (ITV) 116.55p -3.32%
Glencore (GLEN) 308.00p -3.22%
