FTSE 100 hits two-week low as energy stocks slide
EWU•London’s FTSE 100 fell 0.5% to 10,636.71, its lowest level since September 15, as energy stocks declined with oil prices. The FTSE 250 rose 0.2%.
1. Energy stocks drag index
The FTSE 100 slipped to a two-week low on Tuesday as oil prices retreated. The energy sector fell 1.9%, with BP down 2.3% and Shell down 1.7%.
2. Company and economic news
British American Tobacco fell 1.9% after warning annual growth is likely to be at the lower end of its forecast range. Vesuvius surged 24.7% after RHI Magnesita proposed a cash-and-stock bid for the company. Bank of England data showed unsecured lending to British households grew at its fastest annual pace since 1993 in August; investors were awaiting UK second-quarter GDP data later in the week.
