Sector movers: Miners and metals weigh
Industrial metals and mining were the main drag on London stocks on Monday.
Industrial metals & mining was dragged down as World Steel Association data on Monday showed a 6.6% annual increase in global steel production in May, driven by higher output in China, India, Japan and the US. "We expect this trend to continue over the coming months, which is a key reason behind our bearish view on prices this year," said economists at Capital Economics.
Mining companies were also mostly lower, amid heightened fears of a global trade war. Investors fear that demand for metals and minerals in particular could stall if growth in China slows as a result of the US’s attempt to improve its trade deficit.
TI Fluid's small rebound on Monday after a 10% fall over last week was enough to lift the Automobiles & Parts sector.
Top performing sectors so far today
Automobiles & Parts 10,514.41 +0.78%
Food Producers & Processors 7,921.72 +0.05%
Alternative Energy 0.00 0.00%
Alternative Investment Instruments NULL 0.00%
Automobiles and related providers NULL 0.00%
Bottom performing sectors so far today
Industrial Metals & Mining 4,612.46 -3.87%
Mining 18,387.14 -3.83%
Oil & Gas Producers 9,430.02 -3.00%
Construction & Materials 6,408.67 -2.85%
Household Goods & Home Construction 16,239.23 -2.79%