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FTSE 100 snaps three-day winning streak

Published 07/24/2019, 03:38 PM
Updated 07/24/2019, 03:40 PM
FTSE 100 snaps three-day winning streak
UK100
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MBGn
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RIO
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AAL
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BHPB
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ITV
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FTMC
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VALE3
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AML
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 0.2%, FTSE 250 up 0.3%
* Miners biggest drags on the main bourse
* Carmaker Aston Martin falls on forecast cut

July 24 (Reuters) - Mining heavyweights pulled London's main
index lower on Wednesday as iron ore prices fell after Brazilian
miner Vale prepared to resume operations at its Vargem Grande
complex, while luxury carmaker Aston Martin was set to lose a
fifth of its value after cutting annual targets.
The FTSE 100 .FTSE inched 0.2% lower by 0710 GMT, lagging
most of the global markets where signs of progress in the
U.S.-China trade talks lifted sentiments. The FTSE 250 midcap
.FTMC was seen up 0.3%. Vale SA VALE3.SA said it has been authorized to partially
resume dry processing operations at the complex, months after
Brazil's mining regulatory agency had ordered the miner to halt
operations there to guarantee the stability of its dams.

Rio Tinto RIO.L was the biggest drag with a 3.3% drop,
while Anglo American AAL.L and BHP BHPB.L were also lower,
as Liberum analysts flagged warning signs for the sector after
rising iron ore port inventories.
Helping contain losses was broadcaster ITV ITV.L , which
jumped 7.2% after it said a strong contribution to online
revenue from reality show "Love Island" helped limit the decline
in first-half ad revenue. Among midcaps, Aston Martin AML.L slumped 22% after it
slashed several of its forecasts, blaming macro-economic
uncertainty and weakness in UK and European markets. That
followed a disappointing quarterly update from its German peer
Daimler DAIGn.DE .

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