A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020. REUTERS/Toby Melville/File Photo Acquire Licensing Rights
Nov 28 (Reuters) – UK’s FTSE 100 slumped in broad-based losses on Tuesday, with industrial metal miners among the top losers, while investors awaited a slew of global economic data due later in the week.
By 0812 GMT, the exporter-heavy FTSE 100 (.FTSE) was down 0.4%, while the more domestically-oriented FTSE 250 midcap index (.FTMC) lost 0.2%.
Industrial metal miners (.FTNMX551020) dropped 0.9% early on, while personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 1.9% after HSBC reduced the stock’s price target.
Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the United States – the Federal Reserve’s preferred inflation gauge – later this week.
Among individual stocks, Rolls-Royce (RR.L) vowed to become a much more profitable business by targeting a leap in its civil aerospace margin to 15%-17% from 2.5% last year. Shares of the aero-engineer jumped 4%.
Reporting by Shashwat Chauhan in Bengaluru; Editing by Sonia Cheema
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