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Name Symbol Market Type
FTSE 100 FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  +40.00 +0.58% 6,895.02 6,910.45 6,849.63 6,855.02 0 16:35:31

LONDON MARKETS: Unhappy New Year For U.K. Investors As FTSE 100 Flashes Red

02/01/2019 11:11am

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By Emily Horton

U.K. markets reopened after the New Year break on Wednesday and the FTSE 100 promptly followed Europe's other major indexes by flashing red. Mining companies, in particular, were under pressure.

How are markets trading?

The U.K.'s FTSE 100 fell by around 1% to 6,671.66 after finishing 2018 down 12.5% on Monday.

The pound fell to $1.2688 from $1.2745 late on Tuesday in New York.

What is driving the markets?

U.S. stock indexes are poised to sink on the first trading day of 2019 ( as global markets react negatively to signs of economic weakness in China.

Oil futures also retreated ( on Wednesday.

In the U.S., President Donald Trump has ramped up pressure on the Democrats in an attempt to secure funding for a border wall between the U.S. and Mexico, inviting them to a bipartisan meeting at the White House amid a partial government shutdown, The Wall Street Journal ( (

Pharmaceutical companies started off the New Year by raising the price of hundreds of drugs, with Allergan PLC (AGN) increasing its prices by nearly 10% on more than two dozen products, the Journal also reported (

What stocks are active?

Mining stocks were under pressure on Wednesday. BHP Group PLC (BHP.LN), Evraz PLC (EVR.LN), Antofagasta PLC (ANTO.LN) and Glencore PLC (GLEN.LN) all lost just over 4%, while Anglo America PLC (AAL.LN) lost just under 4%. However, Fresnillo PLC (FRES.LN) rose by just over 1%.

Elsewhere, online gambling provider GVC Holdings PLC (GVC.LN) gained 2%, retailer Next PLC (NXT.LN) added 2% and online supermarket Ocado Group PLC (OCDO.LN) rose by 1.5%.


(END) Dow Jones Newswires

January 02, 2019 05:56 ET (10:56 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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