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FTSE 100 drops as lockdowns weigh on mining shares; Fresnillo dips

Published 27/01/2021, 09:24
Updated 27/01/2021, 09:30
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 down 0.2%, FTSE 250 adds 0.1%

Jan 27 (Reuters) - Britain's FTSE 100 fell on Wednesday, led
by declines in mining shares as a surge in virus cases and
movement curbs raised demand worries, while precious metals
miner Fresnillo dropped after predicting lower gold output.
The blue-chip FTSE 100 index .FTSE dropped 0.6% with
miners .FTNMX1770 and travel stocks .FTNMX5750 falling the
most, while the mid-cap index .FTMC gained 0.1%.
British retailers .FTNMX5370 dropped nearly 0.3% after
reporting the biggest annual fall in prices since May this
month, adding to signs of pressure on the sector. The mood further dampened as Britain's death toll from the
coronavirus pandemic passed 100,000 people as the government
battled to speed up vaccination delivery and keep variants of
the virus at bay. In company news, oil exploration company Tullow TLW.L
dropped 2.7% even after saying it expects its operating cash
flow to reach $500 million in 2021 if the oil price stays above
$50 a barrel. Precious metal miner Fresnillo Plc FRES.L fell 3.1% after
forecasting lower gold output for the current year than
COVID-hit 2020, mainly after a land slip at one of its mines in
Mexico restricted operations.

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