Pedestrians leave and enter the London Stock Exchange in London, Britain August 15, 2017. REUTERS/Neil Hall/File Photo
July 12 (Reuters) – London’s FTSE 100 fell on Monday, dragged down by heavyweight energy and mining stocks on lower commodity prices, while gains in insurers led by Admiral helped cut some of the losses.
British motor insurer Admiral (ADML.L) jumped 6% to the top of the FTSE 100 after it said it was on track for a higher-than-expected first-half profit due to lower motor accident claims through pandemic lockdowns.
The blue-chip FTSE 100 (.FTSE) eased 0.2% with heavyweight energy (.FTNMX601010) and precious mining stocks (.FTNMX551030) falling the most on weak commodity prices.
Among stocks, Tate & Lyle Plc (TATE.L) rose 2.2% after it agreed to sell a controlling stake in its commercial sweeteners business in a deal that values the new standalone unit at $1.7 billion, including debt.
Daily Mail and General Trust Plc (DMGOa.L) was up 8.5% after it said the Rothermere family was prepared to make an 810 million pounds ($1.13 billion) bid if the divestment of its insurance risk division and Cazoo business went through. read more
The domestically focussed mid-cap index (.FTMC) inched 0.1% higher.
Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu
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