Home Business NewsBusiness China-linked resources sell-off sinks FTSE

China-linked resources sell-off sinks FTSE

by LLB Editor
16th Aug 21 11:34 am

It’s a downbeat start to trading on Monday with the FTSE 100 giving up some of last week’s gains. The oil and mining sectors helped drag down the index as BHP confirmed it was in talks over an exit from its petroleum division.

AJ Bell investment director Russ Mould says: “The commodities-related sell-off also followed weak data from China where retail sales slumped – raising questions over demand from the resources-hungry nation.

“The aerospace and defence sector was in focus thanks to the latest M&A news as Meggitt sanctioned a takeover deal from Parker Hannifin while Cobham and Ultra Electronics agreed terms on a merger.

“The downside for UK investors is yet another part of the market is being hollowed out, reducing the breadth and diversity on offer from London-listed shares.”

 

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