Ftse 100 Hits Over 5: week low on slowdown woes; Russia's Polymetal outperforms

Polymetal International PK

25/04/2022 08:19

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markets, click LIVE/ or type LIVE/ in a news window)
    * FTSE 100 down 1.7%, FTSE 250 off 1.3%

    April 25 (Reuters) - London's FTSE 100 slid more than 1.5%
on Monday, dragged down by financial and commodity stocks, as
concerns over global economic slowdown clouded investors' risk
appetite ahead of a barrage of corporate earnings reports this
week.
    The blue-chip index  .FTSE  fell 1.7% to touch its lowest
level since March 18, with 96% of its constituents trading in
red. 
    Oil majors BP  BP.L  and Shell  SHEL.L  were down 3.2% and
2.4%, respectively, while the industrial mining sub-index
 .FTNMX551020  lost 4.3%, tracking tepid crude and metal prices
as prospects of prolonged COVID-19 lockdowns in China stoked
demand fears.  O/R  MET/L 
    Broadly, Asian stocks had their worst session in 1-1/2
months as concerns about rapid and aggressive U.S. rate hikes
and slowing growth rattled sentiment.  GLOB/MKTS 
    Banks  .FTNMX301010  dropped 2.1%, with Asia-focused lenders
HSBC Holdings  HSBA.L  and Standard Chartered  STAN.L  slipping
more than 2% each ahead of their results.
    The domestically focused midcap FTSE 250 index  .FTMC 
declined 1.3%.
    Bucking the sombre mood, shares of Polymetal  POLYP.L 
jumped 9.2% after the Russian gold and silver producer said its
first-quarter revenue grew by 4% year-on-year to $616 million
due to higher gold prices.  urn:newsml:reuters.com:*:nR4N2WA01B


 (Reporting by Devik Jain in Bengaluru; Editing by Sherry
Jacob-Phillips)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))
 
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