FTSE 100 Drops as Mining and Energy Stocks Slide

The FTSE 100 index fell 0.27% to 10,803.54 on Thursday, primarily weighed down by losses in the mining and energy sectors. Mining stocks experienced sharp declines, led by Antofagasta, which saw shares tumble nearly 6% after the company trimmed its copper output forecast for 2026. Other mining firms, including Rio Tinto, Fresnillo, and Anglo American Plc, also lost value.

Energy stocks followed a similar downward trend. BP and Shell declined as Brent crude futures dropped nearly 2% to $87.25 a barrel, a move driven by expectations of weaker global demand.

Some sectors provided a counter-balance to the losses. Rank Group shares surged over 3% after the company reported a 21% increase in underlying annual profit. Additionally, Costain Group rallied 3.5% after reaffirming its annual guidance following strong half-year results.

Economic data released by the Office for National Statistics showed that U.K. real gross domestic product grew 0.4% in the second quarter, meeting market expectations. However, the data also revealed that the visible trade deficit widened to GBP 23.01 billion in June.