FTSE Down 69.95 Points After Burberry Warns About Profits, US Po
London stocks closed lower on Monday (July 15), weighed down by weaker commodity prices and uncertainty over US politics , while Burberry shares fell to a 14-year low.
Meanwhile, the FTSE 100 index on the London Stock Exchange closed at 8,182.96 points, down 69.95 points or -0.85%.
The market fell after three straight days of gains, pressured by Burberry shares, which plunged 16% after it warned about profits and changed its CEO.
Personal care stocks fell about 12% to their lowest level since June 2010.
Industrial metals stocks fell 1.5% after copper prices fell on weak demand outlook in China, which is facing slowing economic growth, weak lending and rising inventories.
Political uncertainty in the US has sent global markets into a tailspin following an assassination attempt on President Donald Trump on Saturday.
Investors will be eyeing the release of the UK's consumer and producer prices this week ahead of the Bank of England's (BoE) next meeting next month.
BoE policymaker Swati Dhingra said the UK inflation outlook was unlikely to rise again rapidly and the BoE should cut interest rates, with investors eyeing a more than 50% chance of a rate cut at its August meeting.
Meanwhile, the FTSE 100 index on the London Stock Exchange closed at 8,182.96 points, down 69.95 points or -0.85%.
The market fell after three straight days of gains, pressured by Burberry shares, which plunged 16% after it warned about profits and changed its CEO.
Personal care stocks fell about 12% to their lowest level since June 2010.
Industrial metals stocks fell 1.5% after copper prices fell on weak demand outlook in China, which is facing slowing economic growth, weak lending and rising inventories.
Political uncertainty in the US has sent global markets into a tailspin following an assassination attempt on President Donald Trump on Saturday.
Investors will be eyeing the release of the UK's consumer and producer prices this week ahead of the Bank of England's (BoE) next meeting next month.
BoE policymaker Swati Dhingra said the UK inflation outlook was unlikely to rise again rapidly and the BoE should cut interest rates, with investors eyeing a more than 50% chance of a rate cut at its August meeting.
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